Technology

While open banking is a fascinating movement poised to benefit consumers and spark significant innovation in financial services, the world must weigh convenience vs. risk and approach the inherent privacy and security concerns with caution, says Imperva's Terry Ray.

Competition over virtual currency could alter politics and global power structures, potentially to the detriment of the U.S., the author of "The Currency Cold War" argues.

Katie Haun, a general partner at Andreessen Horowitz, said that in 10 years money will be digital, the same way books and music are today -- and that efforts such as Libra, which the venture-capital firm has invested in, will be key to getting there.

Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times.

By targeting the API rather than scripting a form fill, bad actors are leveraging the same efficiency and flexibility that APIs provide developers, says Cequence Security's Matt Keil.

The security method offers real-time authentication checks to combat phony chargebacks, says PAAY CEO Yitz Mendlowitz.

The coronavirus pandemic was an unexpected catalyst for contactless cards, and another no-contact payment method is poised for growth as well: voice payments.

U.K. fintechs are using their technology to assist British businesses and consumers during the coronavirus pandemic by helping banks disburse emergency business loans, enabling e-commerce merchants to offer installment payments to consumers, and giving employees access to salary advances.

Merchants should also monitor fraud by channel, to see how much each channel contributes to total fraud losses, Bernardo Lustosa of ClearSales says.

The modern mobile wallet no longer uses a card as a crutch. Instead, it sees it as an additional product that can add revenue from interchange, lending and loyalty.