Technology

Proposals that would have financial firms monitor or refuse to finance certain firearms purchases are misguided, putting the onus on unelected corporations.

In recent years, new machine learning algorithms and big data have reduced fraud losses to an extent — however, their impact has been relatively limited, in part because the industry has been reluctant to use them. But the use of such technology is soon likely to become far more widespread in the U.K., and across the EU.

Jason Oxman is leaving his CEO position at the Electronic Transactions Association to become the president and CEO of the Information Technology Industry Council, a position he will assume in late February.

Spring Labs is spearheading a group of prominent fintech lenders to use a blockchain-based, peer-to-peer network to share consumer information to help with ID verification on loan applications.

Samsung’s been pushing for government support for its blockchain and cryptocurrency technology for much of the past year, and early Galaxy S10 leaks suggest a built-in crypto wallet will be among the handset's planned features.

The industry faces a range of risks every day ranging from natural disasters to employee misconduct. Management needs a plan in place for when a problem arises.

Midsize banks have much smaller security budgets, less mature security programs and less robust controls than their bigger counterparts, writes Leigh-Anne Galloway, cybersecurity resilience lead at Positive Technologies.

There’s no reason for the central bank to prohibit nonbank financial firms from entering the payments system as long as appropriate rules are put in place to protect against risk.

EU states such as Belgium, Lithuania and Ireland are offering e-money institution, payments institution or banking licenses to fintechs, which can be passported across Europe, in anticipation of the U.K. losing its ability to do so after Brexit. But there is no cross-border deposit protection for European consumers holding accounts at EU banks with passported licenses.

While the transaction will lower the cost of servicing First Data’s massive debt, the fintech and processing giant will be more complex and ponderous, writes Eric Grover, a principal at Intrepid Ventures.