Bank technology

The firm will use part of the $34 million funding round to beef up a predictive algorithm that determines how much money merchants should give consumers to spend at their stores. The theory is they'll spend more.

American Express will put its reloadable prepaid card on Walgreen Co. shelves by the end of the week.

The coffee giant makes a $25 million bet on a disruptive payments technology. But how much of a jolt will the investment cause in the banking industry?

PayPal still rules the roost in person-to-person (P2P) transfers, but faces an increasingly strong field of competitors, according to Javelin Strategy & Research.

Campus card provider Higher One, along with The Bancorp Bank, its former bank partner, have settled a lawsuit with the FDIC stemming from several "alleged unfair and deceptive practices."

Innovest Systems, a technology firm specializing in trust accounting and wealth management products, has named Glenn Schmidt as its chief operating officer.

Bank of America's Merrill Lynch unit has named a former Citigroup executive as managing director of North American product sales for its global transaction services business.

Starbucks' $25 million investment in Square says a lot about the mobile payment provider's appeal to larger merchants — but the coffee chain's decision to leave out some of Square's technology also speaks volumes.

Vendors are jockeying to be the go-to firm for banks that wish to shed the piles of paper statements and bills still blocking the path to low-cost digital processing.

Cardtronics USA has acquired the assets of independent sales organization ATM Network, including its merchant contracts, customer relationships, online store and Web properties.

Starbucks announced today that it is investing $25 million in Square and will begin using Square's mobile payment technology in its stores.

Former Bank of America (BAC) executive Marc Gordon has been appointed executive vice president and chief information officer at American Express (AXP), the credit card company announced Tuesday.

Bureau says banks with fewer than 100 international money transfers a year can avoid new fee disclosure requirements, but some industry officials say the threshold is still too low.

Creative Payment Solutions, a unit of BB&T (BBT), has launched a new remote deposit capture (RDC) risk self-assessment tool that financial institutions can provide to customers.

Walt Doyle, general manager of the PayPal Media Network, explains how PayPal is helping drive consumer traffic to merchants, using technology it acquired when it bought Where Inc.

After two financial institutions merge on paper, the hard work starts in the IT trenches. Mark Duthu, executive vice president for Hancock Holding's trust and asset management group, discusses the complex integration of Whitney Bank.

Consumer use of prepaid cards is incredibly varied, relatively short-lived and full of mystery, finds a report released Tuesday by the Philadelphia Fed.

Navy Army Community Credit Union cites familiarity, Fiserv’s wide array of services.

The mathematical insight that turned Google Inc. into a multibillion-dollar company has the potential to help the world avert the next financial crisis. If only banks made public the data required to do the job.

Financial institutions cannot continue to be hampered by costly, ineffective legacy data management systems that are not up to evolving needs. It's time for a change.