PayThink

Banks need to mitigate potential bias in algorithmic predictive models using artificial intelligence, as regulators are weighing how to oversee the emerging technology.

Many businesses are not doing enough to protect their client sensitive PII information. They do not realize that internet and cloud services are not bullet-proof, says Pravin Kothari, founder and CEO of CipherCloud.

Banks have to do a better job of protecting personal information about their customers' children.

Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.

Banks have to do a better job of protecting personal information about their customers' children.

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.

Younger consumers still like to go to the mall. Keeping them there requires a mix of easy payments, financing and shopping in multiple channels, says Nufar Segal, general manager of consumer financing for at Jifiti.

Under the Illicit Cash Act, anti-money-laundering rules would be clearer — so banks would have no excuses for noncompliance.

Most cloud storage systems have gaps that open the door to account takeover, API attacks and other threats, argues Pravin Kothari, founder and CEO of CipherCloud.

Standardizing charge backs would make management easier, and merchants would only have to understand one set of protocols, which could also standardize responses, says Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.