Investment

Criminals are getting aggressive when using mobile apps to compromise consumer accounts, and that's causing headaches for execs who bear responsibility for data security.

Many bankers say they’re more comfortable with using artificial intelligence behind the scenes, but others — including Synchrony and Wells Fargo — insist AI can be used to interact with customers if it’s deployed properly.

There are concerns that artificial intelligence could erase jobs across financial firms, but it will actually benefit employees by cutting rote tasks, giving them time to focus on more fulfilling work.

Mobeewave, a provider of in-person contactless payment acceptance software, is getting an investment from Samsung Venture Investment Corporation that pushes a recent Series B funding round led by NewAlpha, Mastercard and Forestay Capital to nearly $20 million.

Blockchain reclaims proof of trust and allows users to reassign the data management role to a decentralized network guided by autonomous and immutable code, writes IIya Pupko, chief architect at Jitterbit.

A man entered a SunTrust branch in Sebring, Fla., and shot and killed five women, four of whom were bank employees; 24 million mortgage documents exposed in data security lapse; the battle for deposits is like "a steel-cage" match; and more from this week's most-read stories.

The data aggregator has purchased Abe AI and plans to use the artificial intelligence firm's technology in a host of applications.

The core-banking vendor won the investment and ringing endorsements from the trade group and several banks because its open system and cloud delivery could eventually challenge entrenched tech players.

The problem with bug bounties is that while it can complement vulnerability management programs, it does not offer the comprehensive coverage an enterprise requires, contends Mark Weiner, CMO of Balbix.

In recent years, new machine learning algorithms and big data have reduced fraud losses to an extent — however, their impact has been relatively limited, in part because the industry has been reluctant to use them. But the use of such technology is soon likely to become far more widespread in the U.K., and across the EU.