Bank technology

The plan President Obama announced Tuesday to crack down on patent assertion entities or "patent trolls" was met with approval by attendees at the Mobile Banking Summit in Miami.

With consumers cherry-picking mobile banking apps, the industry is facing a dramatic transformation in how it develops and popularizes products, say execs from Wells Fargo, USAA and Citi.

Banks are increasingly competing with nonbanks to develop products for low-income and underserved customers. Here are the crucial questions they need to ask about regulation, technology and the competitive landscape.

President Obama's moves to rein in patent litigation should ease the squabbling over intellectual property that's hampered innovation in payments and should also reduce banks' legal costs.

The computer maker is aiming its all-in-one server, storage and network appliance at bank and other retail branches that have little or no IT staff.

Charaka Kithulegoda, CIO of ING Direct Canada, encouraged fellow bankers to go beyond the status quo during his keynote address at the Mobile Banking and Commerce Summit.

Shamir Karkal, the fintech company's CFO and co-founder, was a speaker at the Mobile Banking and Commerce Summit this week in Miami.

BBVA Compass announced Monday that it's offering Mitek's (MITK) Mobile Photo Bill Pay technology to its retail customers.

Citigroup said Monday that it has launched a mobile version of its CitiManager desktop portal. The management tool allows corporate cardholders to check in on accounts, statements and transactions.

The Houston company said Monday it has purchased the assets of Merrimak ATM Group of Rohnert Park, Calif. Financial terms were not disclosed.

The nation's largest mutual has been an early adopter, using the Internet to market and originate small-business loans.

The financial software company Misys has introduced a new system to aid banks in managing risk.

Hewlett-Packard announced Monday that Spanish banking company NCG has chosen HP's Fortify service to assess the security of its software.

Digital security company nProtect has introduced software that aims to prevent online banking fraud by detecting anomalous activity.

Nomura Securities has begun using a mobile application for asset managers from Nomura Research Institute.

Tech startups are gunning to compete with banks by providing financial services to low-income and other underserved customers. Many of the offerings provide me-too services with limited appeal, however, rather than attractive innovations.

Making City Bank Texas, a community bank based in Lubbock, an early adopter of mobile banking features such as mobile photo bill pay and debit card management won Jim Simpson an honorable mention for BTN's Mobile Banker of the Year.

Mathieu Krogstad, one of BTN's Mobile Banker of the Year honorable mentions, has pushed several innovations through at Bank of the West in his 18 months as vice president of mobile banking and payments.

NewDominion is the rare community bank that invests in its own apps for small business clients. Behind that effort stands Chris Block, one of BTN's Mobile Banker of the Year honorees.

Jeff Casey, one of BTN's Mobile Banker of the Year honorable mentions, has found letting people pay bills by snapping photos of them with their smartphones is a hit among customers.