Customer experience

Social Security numbers are used to verify identity across the financial services industry, but their use is outdated and leaves consumers vulnerable to data breaches.

HSBC is the latest bank to be hit with this type of attack, in which hackers take stolen usernames and passwords from one site and attempt to reuse them to login to banks.

Tech innovation isn't just about creating more bells and whistles. It can also help deepen client bonds.

The breach may have occurred through a technique called "credential stuffing," in which hackers who have stolen passwords for other websites try them out on an online banking site.

Clearly communicating with customers on a powerful engagement platform is enough to increase customer confidence, writes Donika Kraeva, strategic communications manager at Dentacoin.

Readers consider to new evidence regarding Operation Choke Point, debate the impact of Democrats taking control of the House in November, respond to concerns about weakening the Volcker Rule and more.

Self-sovereign identity solutions are becoming increasingly common as credit unions move away from less secure authentication methods.

Consumers may say they like where they bank, but a survey suggests banks and credit unions lag behind retail brands like Amazon in ease of service and satisfaction.

The two megabanks face different problems, as Bank of America customers are frustrated over fees and customer service while Wells customers are alarmed about the bank's recent scandals.