Bank technology

Innovations can fail catastrophically, as was the case for the mortgage and securitization innovations that precipitated the crisis. Valuable innovation profitably and honestly delivers greater perceived value to customers, without incurring disproportionate cost and risk.

Several banks that were victims of a fall round of distributed denial of service attacks, including JPMorgan Chase and Bank of America, are likely to be hit again.

Birmingham, Ala.-based BBVA Compass announced Monday enhancements to its iPhone app. The latest version comes in both English and Spanish.

Todd Park is hardly a civil service Yes man. He's a presidential scholar with a Harvard degree and two successful start-ups under his belt.

National Australia Bank has opened a social media command center that will staff employees to respond to customer comments delivered in its social media channels seven days a week.

American Banker's Innovator of the Year launches a new barcode-based gift card that can be redeemed through the Square Wallet, Apple's Passbook, or paper printouts.

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Chase Paymentech has renewed a long-term exclusive referral and marketing agreement to provide Scotiabank's Canadian business clients with e-commerce and card-present payment processing options.

City National Bank in Los Angeles has hired two Comerica Bank veterans who cater to high-tech and biotech clients.

The biggest ATM security issues continue to revolve around physical tampering of the machines that enables card skimming and card and cash trapping, according to a global survey.

Payoff.com and Encore partner to match collection, advice and research into improving consumer debt payments.

Ripple, the latest project of serial disruptor Chris Larsen, aims to be a flexible technology for handling digital payments in any imaginable currency, from bucks to bitcoins to bicycle parts.

Fifth Third said it expects to recognize a pretax gain of roughly $140 million in the fourth quarter from the sale of 12.4 million shares of common stock in Vantiv.

Billtrust has added a new product to its suite of btConnect accounts receivable automation services.

Chris Larsen, who made waves in consumer finance in the 1990s and 2000s with E-Loan and Prosper, is seeking to shake up the industry again with Ripple, a peer-to-peer payment and credit system.

Tech chief Ken Nagel tells Bank Technology News about the bank's new mobile banking apps and "smart" ATMs.

Sotheby's is auctioning off a prototype of the magnetic credit card. It's not as impressive as you might think.

A state court yesterday approved a request from the South Carolina Revenue Department to notify credit unions and banks of the 3.3 million bank account numbers compromised when someone hacked department tax files.

The Wilmington, N.C., provider of cloud-based software has received a clean opinion with no exceptions noted during a recent SOC 2 compliance certification.

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