Bank technology

In the midst of massive bank layoffs, one bank is looking to hire, with help from an iPhone app.

MasterCard is emphasizing products aimed at affluent consumers as well as emerging categories like prepaid cards and mobile payments in an effort to drive growth, executives said Thursday.

The board of the payments technology vendor Fundtech plans to halt its intended merger with S1 after receiving a separate offer from the private equity firm GTCR.

Hearst-backed E-biller Manilla aggregates bank accounts, rewards and coupon information for consumers.

The recent Dreamforce conference in San Francisco focused on the rise of the 'social enterprise.'

The volume of mobile and e-payments has grown around the world, despite the troubled economy, according to research from Capgemini and Royal Bank of Scotland. Card transactions are growing 10% annually as check usage drops.

Wells Fargo was rated top among retail banks in the overall quality of its mobile banking products and services according to Keynote. The largest banks are trying to create a new channel that goes beyond what they do with PC online banking.

Merchant-funded rewards provider BillShrink Inc. is expected to announce Wednesday it has changed its name to Truaxis Inc.

Fiserv said Wednesday that it has completed its acquisition of the New York bank technology and payments vendor CashEdge.

Despite an increase in the number of cyber attacks, losses to financial institutions and their customers have fallen over the last 18 months.

S1's board advised the company's shareholders not to accept the exchange offer ACI made in its hostile bid. ACI's offer, which would disrupt S1's planned merger with Fundtech, "is not in the best interests of S1 or its stockholders," S1 said.

The new law's a major impetus behind a huge GRC project that will touch all departments.

Fraudsters are increasingly using alternative payment methods to make bogus transactions, in many cases moving away from debit cards and checks, merchants report.

Mainframe growth expected to accelerate with business growth and increasing transaction volumes.

Letting commercial customers bank and approve wire transfers on the go.

The online payment provider eLayaway said on Monday that it would join the Secure Vault Payments network and offer the service to its customers in the fourth quarter.

As part of its investigation leading to recent card-fraud arrests, the U.S. Secret Service Electronic Crimes Task Force revealed some of the latest tactics being used to snag card data to conduct fraudulent transactions.

1st Advantage Federal Credit Union had a problem: Almost no one was clicking on the banner ads it displays to cross-sell products. So it tried a different approach that boosted conversion rates for one product to nearly 10%.

IMGCAP(1)]

Regulators should not allow any more bank mergers if the resulting entity would exceed $100 billion in assets. The return is just not worth the risk.