Bank technology

Although the contactless or proximity mobile payments market is still in its infancy, research firm NPD In-Stat is projecting that by 2016, the number of payments made with a swipe of a mobile device will approach 9.9 billion.

U.S. Bancorp is offering a new iPad app that will allow stores to offer instant credit to customers.

Texas bank hopes to streamline end-of-day processing and risk reporting with new platform.

Citing the completion of its acquisition of Swedish payments provider Point, VeriFone posted a 40.4% increase in fiscal first quarter year-over-year earnings.

Citigroup's new lending module is designed to help track financial flows between different parts of the same company, improving management of tax liabilities and compliance.

Intuit announced that Bottomline Technologies will acquire the commercial banking business of its Intuit Financial Services unit.

BofI has expanded its mobile banking offerings with a new app for mobile check deposit.

Fifth Third Bancorp has established a small venture-capital fund to invest in emerging companies that typically do not qualify for bank loans.

Joins small club of female bank CIOs that includes Catherine Bessant at Bank of America and Anne Weatherston at ANZ Bank.

Bank said to be finding ways to use the Jeopardy!-winning computer to analyze customer data.

Square, an early and successful contender in mobile payment acceptance, has launched a new system that it says can replace a traditional cash register.

EVP and director of mobile strategies Alejandro Carriles shares details of the bank's new iPhone app and mobile banking plans, including why it's allowing direct registration from a mobile device and why it handles all development in-house.

The carrier mobile payment venture Isis said Monday that it is working with several major payment system providers to allow merchants to accept its system at the point of sale.

Hancock Bank of Gulfport, Miss., was losing the fight against fraud in certain channels. Their odds improved after working with the vendor of their fraud system, ACI.

Barclaycard US is courting customers who are frustrated by hidden bank charges with a credit card that lays bare not only its fees but also its profitability for the issuer.

U.S. bankers and telecom providers seeking to crack the code on how to successfully implement and accelerate mobile payments can take a lesson from their peers in Kenya. This country is at the forefront of a mobile banking revolution that is empowering its citizens and opening up new lines of commerce.

IMGCAP(1)]

Speculation as to the motives of large retailers, such as Target and Wal-Mart, who are creating their own mobile wallet system abound. But there's no question the merchants seek better transaction security and control over customer data.

A European coalition of bank regulators says domains such as .bank are prime for phishing and other web crime. Proponents of the new domains, such as BITS, beg to differ.

Complex calculations can be made using Microsoft's Windows Azure servers rather than on an expensive server farm on premises.