Bank technology

Personal financial management software must deliver real value to banks, not just consumers. Just saying PFM increases customer loyalty doesn't cut it. The value proposition has to be more attractive given the revenue pressures banks face today.

It's hard to say why, but bank technology companies seem to be in love with nonsensical names. Their origins may not be obvious, but goofy brands often have straightforward stories behind them.

Wells Fargo has launched a collaborative online community for college planning aimed at students, parents, guidance counselors and financial advisors.

Every year, despite the risks and high costs, millions of Americans turn to payday loans for emergency funds. To date, a top-down, regulatory approach has been the primary means of addressing the downsides of the payday lending industry. To improve protection of consumers and encourage this industry to mature, such regulation should be joined by efforts that encourage market transparency.

RBS Citizens Financial Group is adding person-to-person payments for its online banking users and expedited automated clearing house transfers for its mobile banking users.

Cardlytics announced Wednesday that the company, which provides targeted offers to debit-card users, is offering a similar technology designed for credit card portfolios.

On YouTube, puppet shows are fine for consumers, but to appeal to businesses many banks are taking a more serious tone — and putting their own clients in the spotlight.

Jumio has released a software development kit to allow programmers to use its credit card scanning technology in mobile apps.

New programs based on the company’s HANA in-memory database technology are intended to help banks analyze financial data and deposit transactions.

Attaching readers to smartphones is an emerging way for merchant acquiring banks to extend digital payments to businesses. Before the market takes off, PCI plans to weigh in on the new technology to ensure solutions pass encryption vetting.

One drawback with most envelope-free automated teller machines is that checks and cash have to be deposited separately, but that could soon change for customers of Fifth Third Bank (FITB).

The mobile payments venture Isis has already signed some major banking companies to its smartphone-based payment system. Its newly announced merchant roster likewise features big-name participants.

Yahoo has dipped a toe into the banking and payments waters several times over the years. With the departure of CEO Scott Thompson, it may be back to the drawing board.

Microsoft's new reference model for financial services offers more than just technology advice.

Virtual currency is prevalent in gaming, where users can deploy credits to continue using favorite social games or to buy virtual goods and powerups. But that's likely just the start. According to several market reports, virtual commerce is a $2.2 billion industry that's projected to grow to a whopping $6 billion in fewer than five years.

Banks want to use more data, particularly social media and other behavioral data, as part of risk and marketing. But that requires an upgrade of scoring systems, traditionally a time-consuming process with a large learning curve. Tech providers are competing with new systems that speed these development cycles and migrate more data crunching power to the user level.

The abrupt end of Scott Thompson's short term as CEO of Yahoo calls the company's payments plans into question.

Dwolla's CEO, Ben Milne, explains how his company's alternative payment system affects incumbents in banking and payments.

Less than a third of U.S. consumers have used their phones to make payments, compared to two thirds of consumers in China, according to a report published Monday by Aite Group and ACI Worldwide.

Fundtech announced the launch of a product Monday that will help banks deal with liquidity issues stemming from regulations including Basel III.