Bank technology

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.

New personal financial management software companies that demonstrated their wares at Finovate last week are offering financial advice to the middle class and women.

Customer credit card data was not endangered during last week's security breach of a small portion of websites hosted by GoDaddy.com Inc., a company executive says.

Telecommunication network providers may seem like banks' competition in the mobile payments arms race, but a look at initiatives around the world shows that collaboration between the two groups is the wisest course.

Think Finance has hired William A. Kontgis as chief information officer to help develop products for the unbanked.

About 78% of consumers surveyed are comfortable with their banks using security cameras to improve customer service. Union Savings Bank in Danbury, Conn. is testing this concept.

Updates to the 20-year-old Americans With Disabilities Act means, for banks that need to bring their ATMs in line with compliance, there is a heavy chore ahead.

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Bill Beckmann took on a job that has become among the most daunting among executive jobs in the mortgage industry: President and chief executive of Merscorp Inc.