Commercial banking

Citigroup's new treasury partnership with Payoneer and JPMorganChase's deposit token are pressuring banks to quickly come up with a "vision," according to payment experts.

The timing of the breach at Connex aligns with data breaches by threat actor ShinyHunters, which uses phone calls to socially engineer victim organizations.

An Office of Inspector General audit says the agency's existing program for overseeing banks' technology providers lacks clear goals and metrics. It recommends the adoption of a new risk-ranking methodology by 2026.