Compliance

Three years ago, payments technology provider Dwolla submitted a 164-page proposal to the Federal Reserve's Faster Payments Task Force. This week, the Fed unveiled a plan for its own faster payments system, but Dwolla had already moved on to other projects.

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.

David Marcus spent more than 15 years climbing the ranks in the mobile sector before becoming PayPal’s president and then moving onto Facebook, where he now leads the blockchain team that launched the controversial Libra cryptocurrency project.

Many businesses are not doing enough to protect their client sensitive PII information. They do not realize that internet and cloud services are not bullet-proof, says Pravin Kothari, founder and CEO of CipherCloud.

Banks have to do a better job of protecting personal information about their customers' children.

Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it.

Banks have to do a better job of protecting personal information about their customers' children.

The CEO's tenure lasted just 18 months; the former FDIC chair says having Congress more involved in setting accounting standards "could well backfire on the banks."

Open banking could help credit unions retain and attract new members but concerns remain around data privacy.

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.