PayThink

Companies are swarming to provide added security for mobile phones – but their services might not yet be needed.

Bankers, directly and through their lobbyists, have been expressing outrage related to the Basel III rules designed to ensure the safety and soundness of the global banking system. A top spokesman at the American Bankers Association, for example, was recently quoted saying that Basel III should be "put on a shelf."

Last week, my organization, the Center for Financial Services Innovation, released a set of principles and best practices for delivering the kinds of everyday products and services consumers need to manage their financial lives. We call them the "Compass Principles," and we believe they have the potential to create a more enabling environment for financial services innovation that is positive for consumers and promotes competition and profits.

Banks are pushing mobile devices for payments, but there may be an untapped – and more immediate – opportunity to use mobile for security improvements on mainstream payment types.

A "don't waste a good financial crisis" moment has arrived. The G-20's Financial Stability Board is set to convene a global workshop on how to create and administer a global identification standard for businesses and their ownership structures involved in the financial supply chain.

Many users have criticized a recent redesign Facebook made to its social networking site, but the company may have pleased hackers by making personal information easier to dig up.

Although financial institutions have been developing and implementing Anti-Money Laundering programs for at least a decade, many still seek to develop more effective practices for identifying and minimizing risk.

What if NCUA had used college football rankings to decide which corporates survived and which didn't. Would the CU community have been better off?

Cody Andrew Kretsinger was arrested in Arizona Tuesday for allegedly hacking Sony Corp.'s movie business in May.

Alternative capital instruments would allow mutually held banks to become more vital providers of financial services.