Bank technology

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Eighty-five percent of U.K. consumers say they would recommend the technology, but 37% lack of retailer acceptance prevents them from using it more often.

Selco Credit Union will go from an outsourced relationship with VSoft to licensing and to in-house development to defray deployment costs, yet maintain control as the credit union expands ancillary services tied to check processing.

Catherine Palmieri, a veteran of Citigroup Inc. and CashEdge Inc., has been hired as chairman and chief executive officer of a unit of TIAA-CREF.

Zions, in its attempt to spot fraud, was gathering much more data than its technology could handle. While searching for a needle in a haystack, it was just piling on more hay.

BofI Holding Inc. in San Diego is planning to raise $10 million in a stock sale and intends to use the proceeds to support growth and to boost regulatory capital at its bank subsidiary, Bank of Internet USA.

Banks of all sizes are tackling changes in regulations such as RESPA. Bank of Billings is using loan documentation compliance software to meet the challenge.

Computer Services Inc. said Thursday that it completed its acquisition of Heit. It did not disclose the price of the deal, which it announced Aug. 10.

It's not just IBM — Oracle, SAS and SAP are among the large vendors making major investments in bank risk technology. Their reasons for doing so are sound.

Banks are using technology developed by search engines to cheaply sort through vast amounts of consumer data to identify potential fraud.

Capital Access Network puts the electronic payments system to work in a way that allows lenders to small- and medium-size businesses to access the daily cash flows of borrowers, and collect daily remittances from them. The platform gives lenders a window into their customers, and relies on payment processors to split the settlement of card transactions between the small business and its bank.

This acquisition expands IBM's business analytics capabilities in the financial services industry.

New web and mobile research says most banks are planning to develop downloadable mobile banking apps. But they aren't vigorously marketing the channel.

When it became clear that manually looking for potential money laundering wasn't working, Northwest Federal Credit Union turned to AML software.

Unsure of the efficacy of the various LEED ratings, Arvest is using its own branches as test bases, intentionally using lower certification levels as a baseline.

Catherine Bessant is driving an initiative to centralize and streamline a sprawling technology network at Bank of America. She's got her work cut out for her: the many companies BofA has acquired all came with their own software and hardware, some state-of-the-art and others, not so much. This month, BTN takes an inside look at the challenges facing Bessant and her team, and examines the diffi cult path toward IT modernity at one of the world's largest financialinstitutions.

At Bank of America, Catherine Bessant's perseverance has helped her on a number of fronts.

Data breaches aren't going away, as Bank of America and Citigroup can attest. A group of institutional, tech and research experts offer 10 steps banks can take now to mitigate the risk.

Enterprise data systems are proving to be porous, as a number of breaches over the past few months have affected not only large banks, but major organizations outside of financial services as well.

Driven by economic pressures to account for and manage costs in a moredetailed manner, more banks are outsourcing specific operations ratherthan entire technology functions.