Despite the January announcement that hackers had breached the network of Princeton, N.J.-based merchant processor Heartland Payment Systems Inc., orders from issuers for news cards have not increased significantly, a representative for a card-printing company who asked not to be identified tells CardLine sister publication Cards&Payments. "We really haven't seen a major push as of yet," the source says, nearly two weeks after Heartland's official announcement (CardLine, 1/20). That does not necessarily mean Heartland hackers compromised fewer cards than in previous breaches, he adds. Since the breach TJX announced in January 2007 (CardLine, 1/18/2007), "it seems that processors and issuers have improved their systems to monitor accounts identified by the associations as compromised," the source says. "A lot of card issuers are probably using those applications before they jump and do a mass reissue."
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The payments fintech recently introduced AI agents to its lineup of products banks and credit unions can pick from and add to their existing technology stacks.
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Haiqu's new encoding technique allows quantum computers to process high-dimensional financial data, showing improved performance in spotting anomalies.
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The Virginia-based bank had been an example of what can go wrong when banks partner with fintechs. After being released from an OCC enforcement action, Blue Ridge is now focused on operating as a traditional community bank, said CEO Billy Beale.
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The payments company is expanding the transfer app in an effort to entice more consumers to use the service as their primary banking relationship
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Customers of fintechs like Yotta and Juno, who in some cases lost their life savings, may start to get reimbursed out of the agency's Civil Penalty Fund, but no timeline has been announced for repaying them.
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MetroCity Bankshares in Doraville, Georgia, plans to finalize its acquisition of First IC Corp; Rockefeller Capital Management's Brian D. Riley will join BNY Wealth as global head; Blackstone appoints former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe; and more in this week's banking news roundup.
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