The Pittsburgh company is not interested in bank acquisitions, CEO Demchak says; why Citi, Wells, JPMorgan are seeing a spike in API calls; FHFA's Mark Calabria details next steps on GSE reform; and more from this week's most-read stories.
The bank is moving a large analytics program and a massive amount of data into Google's public cloud, which its tech chief says is more efficient, secure and better able to handle spikes in demand.
The payments system, called FedNow, would go head-to-head against one built by big banks; the senator from Oregon wants Amazon to address vulnerabilities in its cloud data storage.
A Fed team toured an Amazon facility at about the same time Capital One’s data was hacked; House oversight members want answers from the CEOs of the two companies.
The hack prompts renewed concerns about security of data held in the cloud; lawmakers acknowledge that Facebook’s proposed Libra cryptocurrency could have applications for law enforcement.
Though involving an eye-popping 106 million credit card applicants' information, Capital One's breach was also unusual in a number of ways, including that it was quickly caught through a responsible disclosure program run by the bank.
The North American banking giant is making a gradual yet concerted effort to migrate applications to Microsoft’s cloud, but there are still sensitive operations and pieces of data that it’s holding back on for now.
