Data and information management

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

Credit unions often overlook ensuring that different systems and departments are well connected and can share data. Application program interfaces can help with that.

Cybercriminals have become extremely adept at crafting emails that are indistinguishable from legitimate emails, says Valimail's Peter Goldstein.

A digital currency firm has been accused of recruiting actors to pretend to be Comerica and Mastercard employees, writing a fake prospectus and taking other steps to make it look like the two U.S. companies were its partners in an investment venture.

The next generation of wireless communication will lead to more devices being connected to the internet, creating additional vulnerabilities for credit unions to guard against.

Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.

A thorough process for approving experiments with artificial intelligence, clear philosophical principles and diverse human involvement are some of the ways BofA says it's working to ensure AI does no harm.

Companies should push advanced ID, but passwords and their fallout will be here for a while, says Sift's Kevin Lee.

Canada is often at the forefront of payments innovation, with active fintech hubs and a national initiative to restructure the country’s transaction system for e-commerce. Yet outdated attitudes about identity risk linger, showing how hard it will be to achieve global digital ID at scale.

Retailers are decelerating data security spending, even as attacks become more sophisticated and merchants emphasize the types of multi-channel shopping that draws attackers.

Mastercard has developed a service called Threat Scan to help card issuers get ahead of fraudsters by running scans on their card authorization systems based on the latest evolving global card scams.

More states are adopting mobile driver’s licenses, sparking hope of creating a shareable consumer-driven digital ID to power e-commerce and data sharing among banks, fintechs and merchants.

With financial institutions relying more and more on cloud computing services, Washington is increasingly focused on the concentration of industry data in the big three technology giants.

Fincen and others say third parties are proving to be treasure chests for crooks who create synthetic identities, but aggregators argue they help detect risk banks can’t see.

Visa is leaning more heavily on its Issuers’ Clearinghouse Service to help banks combat the rise of synthetic fraud, which it attributes in part to a security measure adopted by the Social Security Administration years ago.

Congress should consider acting quickly or companies could treat the Golden State's new data privacy restrictions as a national standard.

New plans for a ballot initiative in November 2020 threaten to overturn concessions that financial institutions, tech firms and other companies have won from state lawmakers.

With passive biometrics, customers are identified by their behavior online and not by static data such as passwords or one-time codes, says NuData Security's Justin Fox.

Microsoft Corp., Mastercard Inc. and the Hewlett Foundation are funding a new organization that is planning to help dissidents and other vulnerable groups across the world defend against hackers.

Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.