Data security

HSBC said a cyber attack temporarily shut down its Internet banking on Friday, the second time the bank's online services have been disrupted in the U.K. this month.

The potential for more convergence between financial products and physical products raises a whole host of data and privacy issues that banks must deal with proactively.

Many people in the payments industry believe stolen payment card industry data will diminish in its black market value as EMV approaches ubiquity across U.S. retailers. That's not the case.

Bank of America announced Thursday that it customers can now suspend their debit cards temporarily; it is the first of several new features the bank has planned for 2016 after it tripled its digital banking budget.

Wendy’s Co., the third-biggest U.S. burger chain, is investigating reports of unusual activity with payment cards used at some of its 5,700 domestic locations.

Retailers often worry that their customers won't return after a breach, but as logical as this expectation is, it may be far from the truth.

CPI Card Group in Littleton, Colo., has joined the FIDO Alliance, a consortium of players in the payments security industry that works on improving authentication.

Subtly altered versions of popular apps are appearing more often on smartphones. These rogue apps, often available for free, can steal mobile banking passwords or redirect text messages containing passcodes.

For years, the financial services industry has relied on tactics such as education campaigns, sales pitches and financial penalties to get merchants to upgrade their technology. Ironically, the bad security that led to Target's 2013 data breach may have been the strongest way to deliver this message.

Fiserv in Brookfield, Wis., has agreed to buy the community financial services business of ACI Worldwide for $200 million in cash.

It may seem odd for a vendor of payment acceptance hardware to discredit EMV security, which is commonly seen as a catalyst for hardware sales, but that's exactly what MagTek is doing.

More than 100 online authentication methods have earned Fast Identity Online Alliance certification as the organization's goal of eliminating static passwords gains momentum.

Consumers say they consider mobile banking unsafe even as they increasingly use it, assuming they can do nothing to protect themselves from the escalating threats. Banks can't afford to be so fatalistic.

Acquirers are starting to look more closely at a seller’s commitment to cybersecurity to avoid reputational and operational risk.

Roughly 28% of Swift's correspondent bank users have signed up for the cooperative's KYC Registry, defying early skepticism about financial institutions' willingness to share information.

The huge growth of online banking, including mobile, has transformed the industry, bringing tremendous choice, flexibility and convenience to consumers and businesses. But online banking can also be a source of fraud. Watch this video and learn the real risks of web fraud to financial institutions and ways to prevent it.

Bank regulators will stiffen their requirements and identity theft will escalate, but banks will toughen up their defenses.

Bank regulators will stiffen their requirements and identity theft will escalate, but banks will toughen up their defenses.

The blockchain could move from testing to reality, APIs are likely to expand, and more functions will move to the cloud as banks look for ways to fend off fintechs in 2016.

Banks claim bandwidth and security concerns led to interruptions for personal finance apps, but institutions still resist a more secure and efficient portal.