Bank technology

A lack of understanding got users riled up when the app asked them for permission to access their contact list without explaining why.

First Tennessee Bank is offering customers the ability to make deposits by taking pictures of their checks with their iPhones.

Fiserv announced BancAnalyst Risk, a new online tool to help financial institutions evaluate risk.

Whereas most financial companies use Facebook and Twitter solely for branding and customer service, some have taken the next step and designed financial products that are meant to be interacted with primarily through social networks and online games.

The vast majority of companies continue to fall short of complying with the Payment Card Industry data security standard during their initial audit, with only 21% getting a passing grade.

Card association will allow European Visa cardholders to send money to each other by phone.

Paul Smocer is spearheading a new project intended to help banks monitor their internet service providers' authentication methods.

A cloud is hovering over bankers due to the Durbin Amendment and its impending impact on their revenue. However, for bankers who focus on unique opportunities to grow their customer base, these regulatory changes coupled with emerging technologies can present a profitable silver lining.

Banks and technology companies betting on mobile payments must overcome a very basic obstacle: most Americans still don't have smartphones and so can't use Google Wallet or its rivals.

Though some have criticized whether the Payment Card Industry data security standard does enough to protect card data, in Europe the standard has become a catalyst for getting companies to take security seriously.

ACI Worldwide has extended its exchange offer for shares of S1 until Oct. 31. The offer, which has a blended value of $9.44 per share, was set to expire Sept. 28.

Mitek announced late Tuesday a single platform for remote deposit check capture, as well a partnership that will help banks using its product fight duplicate-check fraud.

Bankers, directly and through their lobbyists, have been expressing outrage related to the Basel III rules designed to ensure the safety and soundness of the global banking system. A top spokesman at the American Bankers Association, for example, was recently quoted saying that Basel III should be "put on a shelf."

Consumers have a "trust issue" with mobile payments, which could lead the Google Wallet and other projects to fail, a Fiserv Inc. executive said at a Federal Reserve Bank of Chicago conference.

The financial management startup is leaning on the expertise of its tech-savvy team of founders to build advanced aggregation, coupled with personalized service in automated channels.

When the two workforce optimization vendors combine, banks' choices for software to manage tellers, call center reps and back-office employees will narrow.

Automated replication tool intended to support business intelligence, data migrations and master data management.

Even Google's Motorola Mobility has agreed to work with the telecom consortium on mobile payment technology.

The payment industry's focus on adding encryption at the point of sale to protect card data is counterproductive. MagTek's CEO says that the PCI Council, in pushing advanced encryption,is doing more harm than good.

Deals are a beacon for hackers, who can exploit deficiencies in the systems of merging banks, their vendors or their advisors during negotiations or the integration.