December 30, 2016

Tech Talk Editors George Milner and Teri Wesley have compiled a summary of our annual best of Tech Talk 2016:

  • The next generation eATM
  • Secure cardless cash solution
  • Blockchain fraud detection
  • A SWIFT way to steal funds
  • Selfie banking access
  • ATM management app
  • Smart banking bots
  • Tech to track bank robbers
  • Innovative ATM solutions
  • Open source blockchain for banks
  • Office of Innovation
  • AI tech for card transactions
  • Spam, Scams & Breaches
  • Updates, Patches and Alerts
  • and on the lighter side...
For more information, including a direct link to the source articles, visit the Tech Talk page on

The next generation eATM

Following in the cardless cash movement behind its big bank peers Wells Fargo and Citibank, JP Morgan Chase will be rolling out the next generation of ATMs this year. The new eATMs will provide cash access via the bank's mobile app and offer enhanced features, such as multi-denomination withdrawals and a significant increase in the daily cash withdrawal limit. Get the details in Tech Talk.

187 Banks Share Their Audit Prep Secrets
91% of banks surveyed stated that each audit requires a minimum of 5 hours of preparation time. A major cause for this inefficiency is lack of audit preparation technology, particularly with regard to gathering loan documents for auditors. Read this 10-page whitepaper, packed full of findings from 187 community banks.
— AccuSystems

Secure cardless cash solution

With ATM skimming on the rise, banks are leveraging the latest technology to provide their customers with safer, more secure transactions at the ATM. Last year, financial services provider FIS and digital payments mogul PayPal joined forces to launch Cardless Cash a mobile banking app that enables users to remotely control ATM transactions from their smartphone, without the use of a physical card. More banks are adopting the technology and it's being well-received by consumers. Get the details in Tech Talk.

Blockchain fraud detection

As innovation in the fintech industry brings disruption (and regulatory oversight) to the financial industry, it also provides new avenues for online and payment fraud. Blockchain the distributed ledger technology that underpins bitcoin and verifies digital currency transactions is gaining traction for use in the financial industry. Blockchain intelligence firm Elliptic has raised significant capital for its blockchain fraud detection solution to help financial services monitor and detect illicit activity in blockchain transactions. Get the details in Tech Talk.

A SWIFT way to steal funds

Sophisticated hackers who stole $81 million from the Bangladesh Bank before their billion dollar heist was thwarted due to spelling errors may have put thousands of banks at risk. Security researchers from BAE report that the thieves deployed malware installed on the SWIFT international banking network to cover their tracks and delete the funds transfers and other transactions. SWIFT has reportedly released a security update removing the malware behind the breach, but banks should be on the alert for any signs of illicit activity. Get the details in Tech Talk.

Selfie banking access

The fallibility of using passwords to secure sensitive and financial data is even more evident in light of recent high profile hacks. Banks are increasingly moving toward more secure biometric technology to authenticate users. The proliferation of smartphone users and the explosion of social media has led to the smartphone self-portrait, or "selfie," phenomenon and a new means for banks to provide today's tech savvy customers with more secure access to their bank accounts. Get the details in Tech Talk.

ATM management app

These days there's an app for everything! ATM provider Nautilus Hyosung America has announced the availability of the industry's first mobile app for ATM management and maintenance. The free MoniMobile app enables users to collect ATM data from their machines by simply scanning a prompted QR code on the ATM screen that provides details on errors and the corrective action needed. Get the details in Tech Talk.

Smart banking bots

Social media has changed the way people connect to their family, friends, and businesses and is transforming banking relationships, from enhancing customer service to accessing banking services via social media platforms. AI (artificial intelligence) provider Kasisto is helping consumers connect to their banks through social media sites via smart banking bots. Get the details in Tech Talk.

Tech to track bank robbers

If the infamous Bonnie and Clydes, John Dillingers and Willie Suttons were pulling off their prolific crimes in today's digital age, their careers might have been short-lived and far less profitable. Technology has increasingly been used to help catch bank robbers and other nefarious criminals. Most-wanted posters that used to hang in local post offices were replaced with online sites featuring photos of the bandits and details of bank robberies. Now, when financial institutions and law enforcement agencies want to view photos and information about bank robberies and the most wanted in their region, there's an app for that. Get the details in Tech Talk.

Innovative ATM solutions

Technology has transformed what used to be simple cash dispensing machines into advanced, next-generation ATMs with enhanced service capabilities. Banking software solutions provider CR2 has ramped up two of its ATM solutions to provide personalization, business intelligence and advanced service capabilities such as teller assistance via live video, touch screen functionality, and more. Get the details in Tech Talk.

Open source blockchain for banks

Blockchain technology the digital ledger that underpins Bitcoin is all the rage today in fintech innovation. Financial industry groups are taking steps to harness the power of the digital ledger technology to overhaul existing infrastructures, lower costs, speed up settlements and streamline financial transactions. A group of more than 70 of the world's biggest financial institutions is developing an open-source blockchain platform that could become the industry standard for the nascent technology. Get the details in Tech Talk.

Office of Innovation

In response to the recent release of its "Recommendations and Decisions for Implementing a Responsible Innovation Framework," which clarifies its intended approach toward regulation innovation in the financial sector, the OCC has established a stand-alone office dedicated to responsible innovation of financial products and services and their associated risks. The Office of Innovation will be similar to the CFPB's Project Catalyst, which oversees consumer-friendly innovation and entrepreneurship in consumer financial products and services markets, and is expected to be fully operational in Q1 2017. Get the details in Tech Talk.

AI tech for card transactions

Many financial institutions and retailers use Mastercard-branded credit and debit cards. When a customer's card is unexpectedly declined during a transaction, it creates a frustrating and embarrassing situation for the customer. In an effort to reduce the number of false declines, Mastercard is deploying AI (artificial intelligence) technology to help banks and merchants improve on the consumer experience. Get the details in Tech Talk.


Save Date

On the Lighter Side....
In 2017 we can expect to see advances in technology that continue to enhance the way we live, work and play – providing the mobility to do all those things while on the go. The only limitation we have on mobile devices is the screen size. An innovative kickstart company has solved that problem with a large, portable display you can take on sales calls, trade shows, or anywhere.

Happy New Year from all of us at BankersOnline!

You are subscribed to BankersOnline Tech Talk, 2541 Flint Ridge Rd, Edmond, OK 73003 (888)-229-8872 (ext. 87)