Bank technology

Recent breaches at Epsilon and Citibank are evidence that criminals are not just going after financial information anymore; they are increasingly profiting from stealing all kinds of customer data, especially email addresses. By accessing personally identifiable information (PII) such as email addresses or social security numbers, thieves can sell the information on the black market or move forward with highly lucrative phishing or other scams on their own. In fact, according to analyst firm Frost and Sullivan, the global black market for email addresses and national ID numbers is now worth about $5 billion.

Six days into the bank's website malfunction, Bank of America won't say what the root cause is, but does insist there's no foul play involved.

Despite the financial crisis, noncash payments are growing 7.8% around the world.

A report on online and mobile banking security uncovered a surprising research finding: smartphone banking growth is stagnant.

First Tech Credit Union and Addison Avenue Federal Credit Union needed to prevent news about their merger negotiation from leaking out to competitors and the press through emails and instant messages.

A discontinued agreement between competing vendors forced this Silicon Valley bank to search for a new core system. But it's also finding new efficiencies and product opportunities.

FirstMerit's own research made it starkly clear: it needed to deploy mobile banking, and it needed to act soon. The $14 billion-asset Ohio bank found what it needed in Mobile Money FastTrack.

1st Advantage Credit Union is migrating from direct mail promotions to pop-up surveys incorporated into online banking, and members are responding favorably.

The bank is offering PCI compliance technology to ease the auditing burden for retailers and strengthen its merchant relationships.

Not the major enterprise software vendors, who see a golden opportunity in the tighter capital and reporting requirements coming out of Switzerland and are prepping new products to respond.

New delivery channels can allow quick product deployment to help customers under unexpected duress. But mobile and web can also be hostage to the same adverse elements, so it helps to have extra contingencies.

Integration tools that link online banking authentication to sign-on for other channels are finally starting to emerge as institutions risk losing competitive position in online banking.

Fieldpoint Private Bank & Trust makes no bones about its enthusiasm for finding reliable ways to job out IT.

Consolidation isn't letting up. But Core sales have stabilized, and deals often include orders for ancillary products. Is this the new normal?

The Madrid banking giant has brought the modern, real-time core processing technology it uses in its Latin American subsidiaries to Alabama and is modifying it to handle U.S. regulations and products.

Visa Inc. has hired Gavin Krugel to work on its global mobile team, in an effort to reach unbanked consumers in developing economies.

Two major tech players have pushed further into the data security space with acquisitions announced on Tuesday.

The online book store's line of tablets could help shepherd older customers into online banking and offer an ad platform, but there's a downside.

British Airways' data security efforts would have never gotten off the ground if they were focused purely on complying with payment industry rules.

When the profits and losses of the debit card unit suffer as regulation clips revenues, the banks increase fees, discouraging debit card usage. Any pretense to customer focus goes out the window.