Technology

The impact of U.S. sanctions against Russia on U.S. banks has so far been limited. But further escalation could lead to anti-money-laundering compliance challenges and invite cyberattacks, among other consequences.

With tensions high between Russia and the West, Synechron is looking to develop a real-time kill switch that can shut down a malware threat. The company’s PayTech Accelerator is also focusing on the opportunity for banks in buy now/pay later lending.

Amid Russia’s invasion of its neighbor, cybersecurity officials are warning about the potential for an unconstrained cyberattack on targets in Ukraine to spread around the globe.

Cloud-hosted systems add flexibility to develop payment and lending services that aren't possible on legacy platforms. “We want to develop products that suit our customers rather than what our core provider tells us to provide,” said Samantha Pause, chief marketing and benefit officer at Mascoma Bank in New Hampshire.

The M&A surge promises to improve the services fintechs offer to many banks. But it's also creating a new class of full-service competitors.

Eighty percent of banks plan to spend more to strengthen their safeguards against malware, phishing and other threats in the next 12 months, but only about half are vetting their defenses each year, according to a new Arizent survey. Read on for more findings.

Marqeta COO Vidya Peters and Plaid COO Eric Sager discuss their plan to bypass the use of microdeposits — small transfers that are used to verify identity when linking accounts — to improve speed and security for consumers.

The activist investor ValueAct Capital Management has been awarded a seat on the board of Fiserv as part of a settlement with the financial technology and payments firm.

Roughly two dozen countries have issued central bank digital currencies or have pilots underway. But until financial services firms strengthen the security of their mobile apps, these payment tools are unlikely to gain widespread acceptance.

A new wave of cyberattacks is targeting banks and other companies, two research groups have found.