Bank technology

United Bankshares in Charleston, W. Va., and local organizations in the Washington area figured out that cooperating on a bike program could improve big-city commutes, recruit new customers and help the unbanked.

Modern technology allows a new entrant in the peer-to-peer lending space, SoMoLend, to create a more targeted matching system for small-business borrowers and lenders.

Visa Inc. is setting aside $1.6 billion to cover potential costs from pending lawsuits, the credit-card processor said Friday.

By outsourcing large parts of its core, the Washington State community bank is removing more than a dozen different vendor relationships.

A Northern Michigan gas station redesigned the payment process around drivers' IDs to deter dishonest motorists that were driving off without paying for their gas.

eBay's acquisition of BillSafe, which lets shoppers pay for purchases only after they receive a mailed invoice, shows its commitment to the instant-credit model. But observers warn that this model requires finely-tuned risk management to guard against fraud or excess delinquencies.

The firm believes the decline of the postal service and lingering cash-flow problems for businesses equal a robust opportunity for electronic billing services.

While banks are in varying stages of readiness for compliance, the FFIEC's guidance has affected smaller and regional banks disproportionately. Many must cobble together security systems from multiple vendors to make the grade.

eBay announced today that it has acquired Billsafe, a provider of purchase-on-invoice technology in Germany. eBay plans to combine Billsafe with its PayPal subsidiary in Germany.

Fiserv core users can re-evaluate and stress their loan portfolios with Sageworks tools under the new partnership.

The explosion of mobile applications, especially those involving banking and payments, is almost certain to lead to ingenious new hacker attacks on consumer data next year.

By placing credit scores on mobile devices, the credit management site is hoping to give shoppers another tool to use to gauge whether or not they should or can make a purchase.

About one-third of consumers use mobile banking; of those who don’t, 39% are worried about security.

VeriFone said Wednesday that it has installed a million payment acceptance systems in Russia.

Free ATMs NYC's approach raises concerns among industry experts who have explored the possibility before. They say there are customer-service issues and even safety concerns around placing ads on ATMs.

The average checking account costs banks about $350 annually, American Banker reported this month. But whether banks should use that estimate in determining individual customer profitability remains up for debate.

The Massachusetts community bank's existing customers are getting older, new lending is stagnant and regs are around the corner. An analytics-driven rewards program, it is hoped, will help cure all three.

Does an ATM-locator app need to have sex appeal? At first, the design of the new PNC Finder app for the iPhone seems like it might be overkill. But its main feature — an augmented-reality display — is winning over customers.

A Stanford University professor has filed a letter with the Federal Communications Commission urging it to investigate Verizon Wireless's blocking of Google Wallet on its new smart phone.

Reaching new customer via social media is nice, getting them to make payments there is better, according to Aite Group analyst Ron Shevlin.