Data and information management

The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck.

Four global banks have joined American Express Ventures in contributing to BioCatch’s Series C fundraising round and earning themselves seats on its newly formed Client Innovation Board.

There’s no PSD2-style law requiring banks in the U.S. to share data with third-party payment apps, but the market is progressing as if there will be one, leaving some smaller banks at a disadvantage.

Origin Bank is rolling out software to let customers curb or shut down account-data sharing with third-party apps. In the process, it hopes to learn a lot about client behavior and preferences that it could use in its own products.

David Heun, Associate Editor at PaymentsSource, talks to Kevin Gosschalk, CEO and founder of Arkose Labs, about the fraud trends that have emerged over the course of the coronavirus pandemic.

The startup said its Marqeta Tokenization-as-a-Service enables banks or fintechs to instantly add credit, debit or prepaid cards to a digital wallet by directly managing tokens instead of going through a third party.

It’s about time that we stopped ranking personal data theft on perceived severity. Any breach in which personal data is stolen needs to be treated as highly serious and punishable, says Juniper Networks’ Laurence Pitt.

Since July, Visa has noticed an uptick in unemployment insurance fraud with prepaid cards being used as a key disbursement vehicle. And the best solution may be rooted in technology, not law enforcement.

As the coronavirus pandemic has driven more people to work from home and shop online, the demands on digital, faster payment systems have been heightened — as have the opportunities for fraudsters to exploit them.

The company's new agreement with Envestnet Yodlee to share customers' account data over secure pipes is its 17th pact with aggregators and other fintech firms.

As many businesses and consumers have been forced to deal with the difficult conditions thrust upon them by the COVID-19 pandemic, so too have fraudsters needed to make adjustments just to continue their life of crime.

Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice.

Netwalker attacks are known to target victims using phishing emails disguised as COVID-19 updates from their organization, taking advantage of the heightened fears and anxieties that come with the current pandemic, says Stealthbits Technologies' Dan Piazza.

Even before the COVID-19 pandemic forced retailers and consumers alike to consider the benefits of shopping via a mobile app, providers of shopping and loyalty apps were seeking partnerships with security vendors to deploy fraud prevention technology.

By implementing email protections and patches, the bank was able to protect mobile payments, ATMs, and digital banking, says Red Canary's Tony Lambert.

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook.

This information can be used to access bank accounts and combined with other information on the dark web to access social media profiles, email accounts and more, says Jumio's Robert Prigge.

Businesses must take steps to manage Shadow Code data breach risk by applying timely security patches and upgrading vulnerable open source libraries and third-party plugins, says PermiterX's Ameet Naik.

The actual exposure could be more than ten times the initial breach, due to downstream sales of data, says Bitglass' Anurag Kahol.

The bank's Pershing unit is using fingerprint and facial recognition technology on Apple devices to protect user access to its desktop software.