Mobile banking

PNC Financial Services Group has expanded its support of mobile wallets to Microsoft devices.

The federal government recently began to discourage companies from using SMS-based authentication in their two-factor authentication schemes. So do banks need to completely eliminate authentication via text message? Not entirely.

In 2008, the smartphone revolution had begun but there were no mobile-first banks and brick-and-mortar institutions were still watching whether mobile banking would actually catch on with consumers.

Application programming interfaces are the connective tissue of the digital transformation at banks. Their role is getting more important as consumers look for more ways to connect.

Banks need to embrace technology that can deliver the speed and personalization millennials have come to expect or risk losing this customer segment to fintech companies for good.

The U.S. is steadily building the foundation of a nationwide faster payments system, but not all of the pieces are connected. Many of the elements developed independently, with influence from across the globe.

Bank of America, which spends about $1 billion a year handling cash, will save money and require fewer employees as more customers make payments electronically, Chief Executive Officer Brian Moynihan said.

The startup firm Paymency is seeking to offer an API-driven "banking-as-a-platform" service to the U.S. financial services industry.

Bots have slowly begun to creep onto the online payments scene, and they could offer a whole new, simpler way to part with our cash.

What was true in the late 1700s, the 1970s and the 1980s is still true today: bank customers want to interact with real-life people when managing finances.