Compliance

Cathy Bessant, Bank of America’s chief operations and technology officer, offers her takeaways from the first meeting of the Council on the Responsible Use of Artificial Intelligence. She also shares some challenges banks are facing with cyberattacks and data encryption.

Credit unions have measures in place to assist members hit by fraud but many smaller institutions are challenged when it comes to an effective response.

As banks continue to invest heavily in developing mobile and web-based services for personal and business accounts, investments, money transfers, micro loans and peer-to-peer payments to make the customer experience as seamless as possible, they cannot afford to let compliance efforts lag, writes Sam Abadir, vice president of industry solutions for Lockpath.

PSD2 and other moves push a higher level of authentication, and are a welcome development for biometrics, according to Lina Andolf-Orup, a senior director at Fingerprints.

The SEC and other regulators are taking a closer look at ICOs and mergers involving cryptocurrencies and distributed ledgers, which requires careful diligence for payment companies and dealmakers, according to Will Turner, a partner in the blockchain and cryptocurrency practice at Steptoe & Johnson.

Alternative providers like courting new banks. De novos like the modern features many alternative providers offer upfront.

Several credit union leagues and credit union service organizations have formed a new group, called AffirmXCU, that will offer risk management technology.

A Toronto fintech is seeking share for distinct niche — and it thinks a three-year-old technology decision by Visa may be the ticket to its success.

Stripe has updated its products and made an acquisition to prep for new security standards it says will impact more than 300 million people, potentially giving Stripe the same kind of influence over European merchant technology that it enjoys in the U.S.

Two months after Mastercard lawyers urged an English appeals court to follow the lead of antitrust judges that had tossed out a multi-billion pound class action lawsuit from U.K. consumers over credit card charges, that appeals court has ruled against the credit card giant.