Compliance

Mastercard and IBM have founded a company with a very narrow goal: to help organizations scramble their data to thwart hackers and comply with Europe's General Data Protection Regulation.

It remains to be seen whether Mark Zuckerberg’s testimony on Capitol Hill will prompt lawmakers to move forward on data privacy legislation. But it’s clear that the debate is just getting started — and that banks have a big stake.

With consumer privacy issues in the spotlight, Citibank is betting its app — as an offering from a trusted data partner — will be more appealing than those from unknown brands or companies that have less liability if security breaches occur.

The card networks recently admitted what consumers have long suspected—card signatures have become worthless for authentication at the point of sale. But that's not the end of this story.

The self-regulatory body says working with data aggregators increases risk of cyber fraud, unauthorized transactions and identity theft. But aggregators say other links in the information chain are more vulnerable.

AI relies on catching the malware itself at a later stage, once it begins to operate in the system, and that's not enough to combat breaches and payment systems, according to Mordechai Guri, chief science officer at Morphisec.

So far, U.K. fintechs' options range from relocating to other countries to finding ways to offset negative effects by attempting to “Brexit-proof” their businesses. The latter option can still be a substantial undertaking.

As lawmakers consider reforms to the Dodd-Frank Act, fresh data shows a dramatic reduction in new items issued by the regulatory agencies.

MoviePass has purchased Moviefone, the movie listing and information service, in a deal that gives momentum to a business that owes its success to honor-all-cards rules.

Brand and access to capital can suffer if companies don't take proper care of data from payments and other online activities, according to David Thomas, CEO of Evident ID.