News Topic: Bank technology

Many banks talk about the need to replace legacy core systems, but relatively few go through with it. The CEO of Mechanics Cooperative Bank in Massachusetts explains the case he made to his board that the promise outweighed the risk. ... Read full article

Using Orchard’s data science smarts, Kabbage intends to offer new payment products to small businesses and loan portfolio insights to financial institution partners. ... Read full article

Alice Milligan, its chief digital client experience officer, said the company dedicated itself to delivering what customers really want and that more features are on the way. ... Read full article

PayPal and Barclays have formed a strategic partnership enabling Barclays customers in the U.K. and U.S. to manage their Barclays and PayPal accounts within each app. ... Read full article

Banking apps now rank just after weather and social media in usage. Alice Milligan, chief customer and digital experience officer at Citi Global Cards, shares the results of the bank's survey of 2,000 Americans. ... Read full article

Nymbus is offering its bank clients a service to create a digital brand under their existing charter in as little as 90 days. ... Read full article

Banks using Zelle share the good, the bad and the indifferent of the person-to-person payment network. ... Read full article

In a survey, bankers conceded they may not be doing enough to avoid the mistakes social media giants made in the use of unverified data. ... Read full article

JPMorgan Chase is sending signals that its homegrown blockchain, Quorum, is alive and well despite a recent shake-up. ... Read full article

Several banks have reported digital service outages this year, but now there’s a detailed breakdown of one of them — and it shows that the damage goes far beyond reputation. ... Read full article

The fresh funding supports the popular fintech trends of encouraging people to save money and “rebundling” alternative banking services. ... Read full article

Investing in technology has been an important focus for banks. But big questions remain about these investments, including how best to pay for them. ... Read full article

Consumers around the world are increasingly accessing banking solely through digital means, according to new global studies by Oracle and the World Bank. ... Read full article

Banks struggle to make their websites and apps a destination rather than a utility. Analyst Jacob Jegher offers some ideas for building digital relationships. ... Read full article

WebAuthn could eventually mean passwords are replaced with fingerprints and facial recognition. But how hard will it be to implement? ... Read full article

New York Attorney General Eric Schneiderman asked 13 cryptocurrency exchanges for detailed information about their operations as part of a "fact-finding inquiry." ... Read full article

Community banks are increasingly turning to account onboarding technology to help them solve a growing problem — how to win new customers without opening physical branches. ... Read full article

Many large internationally active U.S. banks are facing potentially hefty fines if they fail to comply with Europe's General Data Protection Regulation, which takes effect May 25 and gives consumers much more control over how their data is gathered, ... Read full article