Bank technology

New regulations are burdening mortgage lenders with staggering new data storage requirements. Fairway Independent Mortgage is using storage area networks to help manage the task and keep up with paper reduction strategies and business continuity.

Imposing fees risks further alienation of consumers, raising the stakes on the “dare” to consumers to find other ways to meet their financial needs. And there are new and better ways for banks to make money.

With 8.5 million mobile banking users, Bank of America has one of the most populated mobile channels in the banking industry. It's responding to security challenges by making sure it launches new mobile capabilities only after it kicks the security tires.

Google has technology plans designed to help reel more banks, merchants and coupon providers into its mobile payment scheme. It continues to take a hardware agnostic approach to the mobile wallet.

In an unprecedented move, South Korea's telecommunication regulator is partnering with mobile-phone operators and card networks to test a near field communication-based mobile-payment system on the country's busiest shopping street.

Soon, even unbanked consumers can accept payment cards. Intuit plans to launch a prepaid card account that merchants may use to deposit sales made with its GoPayment device.

Although it sports fees high enough to make Bank of America blush, this is no Kardashian Kard, the sponsor says.

Minneapolis bank is adding person-to-person payments and support for quick response codes to its mobile apps.

As banks and third-party providers try to find ways to convince complacent consumers to turn off paper bills, Pitney Bowes is putting emphasis on the volume of bills it can eliminate in one fell swoop.

Banks have spent billions of dollars to stop data thieves cold in their tracks, but despite the investments, lenders remain daunted by one of the oldest tricks in fraudsters' playbooks: card skimming.

Russell Investments has started an iPad-friendly version of its Helping Advisors website.

Heightened regulation is forcing more bank buyers to overhaul their entire computer platform as regulators zero in on a greater need for compliance.

Retail shoppers who download a Shopkick Inc. mobile application on their smartphones to earn rewards points, or "kicks," may earn extra points by paying for purchases with a Visa-branded card.

JPMorgan Chase is rolling out what it says is the first airline card issued in the U.S. that uses the EMV chip-card standard. The EMV standard is used in many other countries to add security at the point of sale.

International remittance service will now be available on iPhones, Androids and other handsets, a nod to the importance of mobile to this market.

Acquirers and processors are giving greater attention to the hardware-security module used to protect card data while transactions are processed.

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In a nod to ISIS' preferences, dozens of mobile operators — including huge networks in China — are backing near-field communication standards that make it easier for the operators to grab revenue share and offer similar technology around the world.

The authority expects to activate the system in late 2012 or early 2013.

A survey conducted by Auriemma Consulting has found that 58% of consumers would use mobile payments at a large retailer.