Bank technology

The growing challenges that bankers face amid a fast-changing technological and regulatory landscape were the focus of CEB TowerGroup's annual conference in Boston last week.

Acquired software meant to help customers handle new rules around overdraft fees.

Firm sees rise in threats to iOS and Windows devices, provides 42 tips for better mobile security.

Banks had two years to update their ATMs following changes to the Americans with Disabilities Act. As soon as the March 15 deadline passed, laggards found that plaintiffs' lawyers were waiting.

Elavon, a unit of U.S. Bancorp, is taking a different approach to mobile card acceptance by using a wireless card reader that is as big as the phone it pairs with.

IMGCAP(1)]

If we had a legal entity identifier in place could we have seen the problem building up? The short answer is yes.

The market-making arm of Citigroup Inc. suffered losses of about $20 million on trades made during last Friday's glitch-plagued listing of Facebook Inc. on the Nasdaq Stock Market, according to persons familiar with the matter.

A new product from the clearXchange joint venture of Wells Fargo, Bank of America and JPMorgan Chase may rattle the highly competitive person-to-person payments market.

New version of Flexcube said to provide integrated core, private and online banking, as well as new development tools that let banks make their own system changes.

VeriFone Systems reported that its second-quarter net income dropped roughly 42%, to $14.5 million, from a year earlier as expenses rose.

Paul Galant, Citi's head of enterprise payments, shares the company's direction on the mobile wallet and B2B payments.

PayPal is done taking baby steps. It revealed 15 new national retailers that will eventually accept PayPal payments, as well as numerous agreements with terminal makers and other vendors to increase PayPal's presence as an option in brick-and-mortar stores.

Accepting payments on the go is taxing enough without having to worry about the government's cut. To address this pain point, Intuit added a geolocation feature to its GoPayment mobile card reader to determine where a payment is being accepted and apply the appropriate tax rate.

"The future is going to be no one company is going to own digital payments and digital commerce," says Dan Schulman, group president of enterprise growth at American Express, who has met with more than 300 mobile commerce companies in Silicon Valley. "It's going to be a combination of financial services companies, wireless companies, software companies, retailers coming together to think about, how do we offer a better experience for the consumer in this commerce lifecycle."

Amex has plans to converge its prepaid cards and its digital wallet. Dan Schulman, group president of enterprise growth, explains.

Waves were made in early August, when Google announced that its Wallet worked with all major credit cards and American Express counter-announced that no, it does not have an agreement with Google to work with its Wallet. Sean Sposito grills Dan Schulman, group president of enterprise growth at Amex, about this very public dispute.

It's a crowded mobile wallet market, with Google, PayPal, Isis and others strenuously pushing their products. Dan Schulman, group president of enterprise growth, shares what he believes are the strengths of American Express’s Serve digital wallet.

A closed loop can help eliminate spam and unwanted marketing messages, according to Dan Schulman, group president of enterprise growth.

American Express has ambitious plans for Serve, Dan Schulman, group president of enterprise growth explains.