Technology

Even as the payments landscape has become increasingly complicated and convoluted over the past several years, many industry players have not kept pace with their payments testing methods or tools, writes Steve Gilde, director of global product marketing for Paragon Application Systems.

One community bank decided it can build closer relationships with business clients by hosting events to help them learn how to fortify their cyberdefenses.

Rep. Emanuel Cleaver, D-Mo., released a survey of lending practices that he said point to practices such as forced arbitration clauses and extracting a customer’s credit score to determine creditworthiness.

Financial institutions are hoping to get ahead of the growing and seemingly insurmountable problem of payment card fraud not just by looking at who cyber-attackers are going after currently but who they are likely to defraud in the near future.

As the state phases in tougher requirements from its 2017 regulation, federal agencies continue to show an interest in updating their cyber policies.

To date, payments companies have feared common biometric methods such as fingerprint or iris scanning are unreliable and susceptible to hacking. However, there’s growing evidence that finger vein ID could prove more palatable.

The bank is working with SpringFour and Genivity, two graduates of its mentorship program, and plans more such partnerships.

After warnings of an impending major ATM cash-out had bank security teams working overtime last weekend, crooks made off with over $13 million over the weekend in a double attack on India’s venerable Cosmos bank.

Installing a modern payment gateway, for example, makes the checkout process more convenient, speeding up order processing while offering alternative payment methods, saved customer information and location-specific options, writes Amit Bhaiya, co-founder and CEO of DotcomWeavers.

One expert says the U.S. lags behind other countries, but changes are coming soon – and fast.