Data and information management

Policymakers have called for streamlined disclosures for customers granting third parties access to their financial account data. They don’t have to look far for a potential solution.

RPA changes the game, enabling the automated transfer of data between different systems, and bringing significant levels of improved efficiency to the organization, writes Christine Parker, vice president and financial services industry market lead for Pegasystems.

The credit union service organization has added 20 new owners this year and has reached its maximum number of shareholders.

The hacks keep coming — most recently to Facebook and the federal government’s health insurance sites — and consumer trust in online security systems disintegrates along with them, according to a number of recent surveys.

For hackers, ATMs serve as “welcome mats” for company networks where much customer information is stored, writes Eric Crabtree, vice president and global head of financial services for Unisys.

Executives can't adequately protect members if they aren't familiar with current auditing standards.

“We have actually discouraged banks from innovating,” FDIC Chairman Jelena McWilliams said in announcing a move that other agencies have made.

Even consumers are fed up with passwords, which seem to do little to deter hackers, but Visa says there's still some life left in the dated authentication method.

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

Trade groups are calling on Congress to further delay NCUA's risk-based capital rule and extending a helping hand to red-state Democrats in tough reelection battles.

Payment and banking apps are deploying passwordless experiences for convenience and some degree of improved security ahead of a goal to eliminate passwords from the authentication process altogether. We should not, however, conflate passwordless experiences with system architecture where there is no password in use, writes George Avetisov, CEO of HYPR.

Netspend customers kept from accessing paychecks; Sen. Elizabeth Warren rebukes Comerica over fraud in benefits program; FDIC poised to revamp deposit rules (about time, say banks); and more from this week's most-read stories.

A recent study concluded there are first-mover benefits for banks that embrace open banking. But many executives see its risks instead.

Crowdsourced cybersecurity is making inroads into the world of big banks, even though there is a risk bad actors will exploit the opportunity.

Wells Fargo, Bank of America, Citigroup and other banks have joined forces with fintechs and data aggregators to create the Financial Data Exchange, which aims to resolve the fight over sharing customer information.

Intent on rapidly capturing the value and benefits of these new services, companies too often take a path of least resistance to cloud assessment and operational planning, writes Justin Yunag, chief digital officer, financial services for Atos North America Operations.

Stripe’s expanding global profile has come with a growing security risk operation, which will now be overseen by former Google security expert Niels Provos.

Seeking to bring advanced technology to its managed security services, ControlScan has acquired Dunbar Cybersecurity and its security operations center.

Trade groups say the National Credit Union Administration hasn't adequately explained how it plans to reduce its budget at the same time it asks Congress for increased oversight powers.

Twilio has secured the services of Stripe as a launch partner to enable businesses to accept payments over the phone through their existing Stripe account. The companies plan to offer Twilio Pay in early 2019.