Compliance

Two large deals happened this week in Australia to build scale against international financial services encroachment from card schemes and cross-border financial services — a concern that's cropping up in several nations.

Federal banking agencies want to give the industry a hard deadline for notifying their regulators about serious security breaches and failed system upgrades.

Paying on delivery with tokenization, biometric fingerprint cards, vein scanning or phone-to-phone with a variety of card payment options helps create a universe of consumer choice, convenience, personal preference and better fraud protection, says Radar Payments' Jane Loginova.

It has been 15 years since the federal banking agencies issued guidance on an institution’s obligation to inform its regulator about a cyberattack. A proposal to be unveiled this week could establish a more specific notification deadline.

Ride-sharing apps always seem to be racing to be something else — or at least something more — especially given the coronavirus pandemic's impact on travel. With a banking license in Singapore, Grab can add fuel to the strategy.

It's important that breach mitigation strategies take younger people, gaming and school into account, says ForgeRock's Ben Goodman.

The company’s noninterest expenses are expected to rise more than $500 million next year, largely because of a revamp of risk management and internal controls mandated by regulators.

Ant Group Co. and a venture led by Grab Holdings Ltd. won licenses to run digital banks in Singapore, paving the way for the technology giants to expand their financial services in the Southeast Asian hub.

Apple Inc. phones face scrutiny from Dutch antitrust regulators who are probing whether users get a free choice of financial apps with contactless payments.

The Accredited Standards Committee X9 is forming a group to study faster and real-time payments activity in the financial industry and eventually recommend new X9 standards and upgrades that would enhance interoperability and adoption.