Bank technology

Only 10% of Fortune 250 chief information officers blog and tweet today. Is that number too low?

Large data breaches at companies like Global Payments (GPN) are just the tip of the iceberg of the financial industry's data security woes, says Steve Elefant, who was chief technology officer at Heartland Payment Systems (HPY) during its massive 2008 data breach.

A merchant processor gives his clients contactless readers — for free.

The private-equity owners of Open Solutions Inc., a provider of software and IT services to financial institutions, have put the company up for sale and a deal could fetch more than $1 billion, people familiar with the matter said.

HARRISBURG, Penn. — A federal court here dismissed a suit last week alleging Pennsylvania State Employees CU violated provisions of the Electronic Funds Transfer Act after the credit union produced evidence suggesting that someone had removed the legally required notice affixed to the ATM disclosing the fees to be charged to non-member users of the cash machine.

An alternative to near-field communication, Bump Pay lets people pay each other by tapping their phones together. The idea has lots of competition, but is drawing mixed reviews when it comes to a use case.

InComm, following a similar move by American Express, plans to stop selling gift cards in retail stores in New Jersey.

A big breach raises big questions and identity thieves face justice in the major security stories of the week through April 5.

Clairmail is offering a new mobile banking product for mid-tier regional banks, community banks and credit unions.

The Open Data Center Alliance has begun defining IT requirements for cloud computing solutions.

Computer Services Inc. (CSI), a Paducah, Ky.-based provider of core processing and related products and services, has introduced its new Financial Dashboard. The tool provides bank executives a graphical view of the bank's financial position.

BillMyParents made a strong course correction when it chose to abandon its inventive online parent-billing payment system for a more conventional product: plastic cards.

PayPal has recast its offerings for small merchants, a move it says builds on its recent launch of the PayPal Here portable card reader.

The Durbin amendment did not so much make the economics of low value payments unsustainable as reveal the fundamental truth that they were unsustainable to begin with.

Yodlee has added money movement and risk mitigation capabilities to its personal financial management system.

American Express (AXP) has begun removing its prepaid gift cards from shelves in New Jersey due to a law that requires retailers to collect ZIP codes from purchasers at the point of sale.

Zions' E-business director Matthew Wilcox discusses how the bank examines the troubles with mobile banking to inform fast adjustments in design.

Three companies — ARM, Gemalto and Giesecke & Devrient — to created a "trusted environment" for apps running on mobile devices, using their existing technology.

Mobile technology could crush branches, especially if it gives customers the chance to do one thing in particular — see what panelists on an American Banker roundtable said that is.

The prepaid card marketer Green Dot (GDOT) has completed its acquisition of the location-based deals company Loopt.