Swift is warning its member banks to quickly upgrade their software and security protocols for the global financial messaging system following a wave of new, recent hacks triggering more bank losses.

Jack Henry & Associates Inc. announced that SESLOC Federal Credit Union has selected its Symitar Episys core system for in-house processing.

Silicon Valley Bank in Santa Clara, Calif., has hired Laura Izurieta as its chief risk officer. She will lead the company's risk management, corporate compliance and regulatory relations functions and serve on the executive management team.

While biometric authentication has garnered significant attention in recent months, its actual application in face-to-face environments has seen slow adoption to date.

Health care stands to benefit from automated and easier-to-understand billing and payments, but PatientPay is betting that ridding the system of paper is required on the benefits end as well.

CHICAGO – Mobile wallets are evolving in the key areas of availability and consumer awareness, but they continue to lack in the critical aspect of convincing users of their value, said Google executive Jack Connors.

Identity management software company BioConnect is partnering with biometric security technology startup and Wells Fargo incubator participant EyeVerify on authentication services that includes eye scans and vein recognition.

As banks start giving work formerly done by humans to artificial intelligence programs, questions about legal and ethical implications arise. The time to impose values on, and set limits for, the technology is now.

Visa’s little-noticed purchase last year of a Silicon Valley-based rewards platform is playing a central role in a new loyalty program targeting Uber riders, starting in California’s largest cities.

Payworks, a payments technology services company, has launched a cloud-based payment infrastructure for processing in-person payments.

Credit card rewards programs were born in the heyday of plastic and paper. As payments go digital, banks will have to make sure their loyalty programs keep pace.

Banks need more specific guidance that clarifies requirements around vendor contracts, risk assessments, data management and other issues.

Banks in Australia want Apple Inc. to open its Apple Pay NFC controller to third parties, and while regulators weigh the case, U.S. banks are itemizing their own, related grievances as the mobile payments service nears its second anniversary.

India is bringing peer-to-peer payments to the country through 21 banks, including Axis Bank, Icici and Yes Bank.

Loyalty programs are likely the underpinning of the adoption of mobile payments, so banks need to make sure reward points are part of their digital offerings.

A few years after a deal with Starbucks didn't boost processing volume, Square's returning to partnerships to jog its volume.

TerraPay, a mobile-first international remittance company based in Amsterdam, has acquired Pay2Global, a U.K.-based money transfer service.

The era of banks and fintech companies cozying up to each other is in full bloom. Fintechs realize they can better disrupt the industry from within, while banks are looking for partners to help them navigate the digital world. Here's a look at how banks worldwide are buying, investing in and in some cases lending to fintech firms.

Square Inc. unveiled deals with software startups Vend and TouchBistro, the latest partnerships that will offer its products to larger businesses that aren’t already customers of its electronic-payments system.

Banks are playing a more active role in the next phase of fintech, both as investors and partners, says David Sica, partner at venture capital firm Nyca. That change is shaping how the firm looks at new investments.