Cloud computing

A year-old data breach, which earned the company an $80 million OCC penalty this week, continues to offer lessons to banks as they put more sensitive information in the hands of cloud vendors.

Regulators found fault with the bank’s cloud migration efforts in the years that preceded a 2019 hacking incident.

The IBM-BNP collaboration and other new developments show that high-profile breaches haven't deterred banks from using the cloud to store data.

JPMorgan Chase is one financial institution that plans to test Google Cloud’s new Confidential Computing product.

Cloud-based mainframe provider LzLabs is expanding into the North American market, seeking to help banks, payment companies, insurance providers, telcos and government entities convert legacy mainframes to software-based platforms.

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.

A combination of digital and cloud capabilities, data gathering and regulatory experience should give smaller banks an edge over nonbanks.

The attack knocked out core and mobile banking systems at several U.S. banks, and Finastra is working to get them up and running.

Deluxe has spent many years working to diversify beyond paper checks, which are in an inevitable decline. But that diversity led to confusion.

Binance Holdings Ltd., one of the world’s largest cryptocurrency-trading platforms, has made its first foray into business services by lending its technology and liquidity to those who want to start their own exchanges.

Long-term success in the adoption of cloud technology requires a focus and integration of cloud within the broader business transformation plan, says Unisys' Maria Allen.