Cloud computing

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.

Newcomers Nymbus, Neocova, Finxact and Technisys and older competitors like Temenos, Infosys and Oracle are winning over community and regional banks by offering what some bankers describe as more flexible technology at fairer prices.

Rellevate, a startup founded by former Western Union executive Stewart Stockdale, is forming a digital bank designed for people who make $10 to $25 per hour and live paycheck to paycheck.

Rellevate, founded by Stewart Stockdale, will offer pay advances, fast bill pay payment and international remittances for consumers who live paycheck to paycheck.

Liability for missteps by vendors, jurisdictional headaches tied to locations of servers and legacy technology are other potential impediments.

Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.

It can be a painful process for a bank to go digital, but there are ways to ease the transition.

The bank is working with a Swedish fintech to offer a tool that lets account holders track how their spending choices might be contributing to climate change. The tool may never be a big moneymaker, but it could help the San Francisco bank attract customers and recruit employees.

A shifting fraud landscape and changing consumer expectations will play a part in how credit unions allocate resources toward technology in the new year, according to a prediction from the CUSO Member Driven Technologies.

The international regulatory group said that despite some benefits from tech firms' incursion, the companies' efforts may present operational and disruption risks.

In a move to aid faster expansion and provide more security and regulatory compliance tools, Sweden's Klarna Bank is strengthening its longtime relationship with Amazon Web Services by making it the preferred cloud provider.