Data and information management

Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.

A seasoned investor in startups offers his top predictions for the coming decade. Among them: Big tech firms will become big players in financial services.

From the presidential election to Supreme Court cases, growth strategies and more, these are the issues that could define the next 12 months.

In trying to adapt and survive in an increasingly tech-dominated world, banks may unintentionally give up their most valuable commodity — their relationship with the consumer, and the data that comes with it.

Cybersecurity, AML compliance and consumer protections top the credit union regulator's list.

Some security experts have warned that Iranian hackers may go after U.S. targets, including financial services companies, in retaliation for the U.S. government's assassination of Iranian military leader Qassem Soleimani.

Some security experts have warned that Iranian hackers may go after U.S. targets, including financial services companies, in retaliation for the U.S. government's assassination of Iranian military leader Qassem Soleimani.

Iranian hackers have a history of targeting U.S. banks. Security experts discussed how bankers can prepare themselves if such attacks are renewed as part of a response to the killing of Qassem Soleimani.

Travelex Holdings Ltd., the London-based foreign exchange company, is being held ransom by hackers, forcing the firm to suspend services across 30 countries.

Conflict continues to mount between the card brands and merchants. Merchants say they deserve more input and actual decision-making power and that payments should operate through completely open standards in which all involved parties have had a say.

Comerica will continue to handle the U.S. Treasury’s Direct Express prepaid card program, beating out other banks for the third time since the program launched in 2008, despite a high-profile glitch in 2018 that drew lawmakers’ scrutiny.

Most banks already have the means to communicate directly with customers, in the form of a mobile banking app or email. It’s just a matter of putting those channels to good use. Targeted discounts and perks reduce shopping costs, and therefore customers’ stress, says Flybits' Justine Melman.

Traditional phishing attacks on email are easier for most users to spot, causing crooks to migrate to new venues, argues The ai Corporation's James Crawshaw.

In seeking a more secure way for consumers to use payment cards when shopping online, Deutsche Bank, Mastercard and Idemia say they have launched the first motion code card in Spain.

Despite the convenience wearable payments hold, there are still obstacles that remain. Some factors are cultural, such as cash usage, or even more deep seated in the human mind, such as concerns over security.

The current climate is akin to the Wild West, with little protection for the consumer, and new regulations are needed if the technology is to continue to expand in a safe and sustainable way, argues Mitek's Stephen Ritter.

The largest digital token has posted gains of more than 9,000,000% since July 2010, according to data compiled by Bloomberg.

Pennsylvania-based Wawa recently discovered malware that may have been in place since as early as March. The chain has locations throughout the East Coast, meaning members of hundreds of credit unions could have had their cards compromised.

The technology has graduated from early movers and is large enough to make a difference in authentication, argues Findora's Charles Liu.

New, risk-based technologies powered by AI and machine learning (ML) enable financial institutions to analyze transaction, device, geographical and behavioral data to make real-time security decisions, detecting and preventing fraud as it happens, says OneSpan's Michael Crichton.