Cloud computing

Microsoft has boosted its role in the digital payments migration through a series of ventures, using its cloud computing platform to support merchant upgrades and real-time processing.

The company, which has yet to turn a profit since it was spun off from Live Oak Bank, said it would use the proceeds for working capital and possibly to make acquisitions.

As the coronavirus pandemic took hold in March and the U.K. went into lockdown, many of the country’s e-commerce businesses suddenly found themselves facing a nigh unprecedented level of demand.

The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the pandemic.

American Express began adopting cloud computing a couple of years ago and has leaned hard on the technology to help front-line and corporate employees work at home during the coronavirus crisis, its global head of infrastructure says.

Cybercriminals have targeted at least four financial services technology companies in recent months, potentially giving hackers back-door access to clients. Here’s how banks can guard against that.

Payment infrastructure platform provider GoCardless has signed cloud-based VOIP technology provider 8X8 for recurring bills, with a goal of speeding invoice payments.

Recent breaches and a pandemic-driven strain on cloud computing seemed to prompt a regulatory warning that banks, tech vendors and cloud hosts share an obligation to safeguard customer data — no matter where it resides.

The joint statement on the risks of cloud computing summarizes years of guidance and rules as industry reliance on third-party platforms has become more ubiquitous.

The online lender has deployed new software designed to spot security risks early, especially the kind of cloud-data issues that led to the Capital One-Amazon breach.