National Bank of Canada faces website glitch: Bloomberg

(Reuters) – A glitch in National Bank of Canada’s website may have exposed personal information of about 400 customers, Bloomberg reported, citing an email statement from the bank.

Some people filling out an electronic form on the bank’s website could have seen data provided by a previous customer, according to Bloomberg.

The cause was human error in setting up the form, Bloomberg reported, adding that the bank was offering free credit monitoring to customers who may have been affected.

The bank was not immediately available for comment.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Anil D’Silva

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Tech

IDG Contributor Network: Digital transformation: Not your grandfather’s bank

Changes in the way we do business with banks are rarely initiated by banks themselves. Instead, banks are often forced to adapt because of technological advancements that are shifting social culture and customer expectations.

Just as mobile technology made selfies the norm, the introduction of new technologies is changing banking as we know it; paying by a social media app or on-demand lending are just the start.

Keeping up with customers

Established banks have an array of touchpoints with their customers that generate valuable insights about who their customers are. Yet all too often, banks do not act on those insights and pass up the opportunity to create a great customer experience.

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Network World Cloud Computing

Deutsche Bank digging out of technical debt, while moving to cloud

Deutsche Bank is facing significant technology overhaul challenges, the likes of which might make IT teams at the most sophisticated companies beg for mercy. Yet experts say the company, which last month recorded a $ 6.6 billion loss for the third quarter, must clear these hurdles if it’s going to survive in a sector where consumers expect to manage their money and other financial services from any device.

Deutsche Bank, like many large banks, is paying down technical debt accrued from years of rushed technology choices intended to help grow their businesses. “It is an incredibly painful transformation process,” says Dan Latimore, senior vice president of the banking practice at Celent, a research firm focusing on financial services. “There’s a certain amount of jury-rigging that you can do to keep up with [aging systems] for a while, but it places increasing strain on the back end and at a certain point, the strain is going to break things.”

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CIO Cloud Computing