Technology

Mastercard and IBM have founded a company with a very narrow goal: to help organizations scramble their data to thwart hackers and comply with Europe's General Data Protection Regulation.

Resourceful crooks will relentlessly probe systems, processes and people until they find a weakness or an opportunity. That weakness is the magnetic strip that still exists on all EMV cards, according to Nathan Horn-Mitchem, senior vice president and chief information security officer at Provident Bank.

It remains to be seen whether Mark Zuckerberg’s testimony on Capitol Hill will prompt lawmakers to move forward on data privacy legislation. But it’s clear that the debate is just getting started — and that banks have a big stake.

U.K.-based companies WorldRemit and Lebara have formed a strategic partnership that will give Lebara’s 3 million mobile telecom customers direct access to WorldRemit’s digital money transfer service.

With consumer privacy issues in the spotlight, Citibank is betting its app — as an offering from a trusted data partner — will be more appealing than those from unknown brands or companies that have less liability if security breaches occur.

AccessFintech lets financial firms track trades and aggregates data in order to get a sense of risk across a number of systems.

AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them.

The Middle East presents a rare opportunity for digital payment innovators to access a populous and high-spending region with good levels of connectivity, writes Tom MacDonald, financial and business services practice head for Global Growth Markets.

It's no surprise that London topped the chart of "Cashless Capitals" in a recent study, considering its status as a major fintech hub of the U.K. But this wasn't enough to make it the country's contactless capital.

Developers will struggle to create apps that can be used seamlessly across institutions unless banks can learn to share programming data in a consistent way.