Cloud Computing

Google, IBM rush to sell banks cloud software


As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.


Why some banks still lean on mainframes


Sales of the tried-and-true hardware keep rising despite a global shift to the cloud, and a recent survey found that large companies continue to prefer the performance and security they get from big iron.


Live Oak outpaces larger rivals in moving core system to public cloud


The North Carolina bank deployed Finxact's new technology, which runs on Amazon Web Services, to make Paycheck Protection Program loans and will use it next to offer business savings accounts and CDs.


How COVID-19 cratered customer acquisition, profitability


New research finds that it's become harder than ever to acquire new customers — and equally challenging to engage newly acquired ones.


Capital One fine is latest wake-up call for banks using the cloud


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.


Capital One to pay $80M in connection with massive data breach


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


BNP Paribas is latest bank to join IBM cloud project


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


Google adds security layer to its cloud offering


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


Cloud banking provider nCino plans to go public


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.


PPP loan forgiveness, BofA’s cost cutting, Amex’s cloud commitment: Top stories of the week


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.