Data and information management

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.

By adding strong authentication to the “tap,” consumers can benefit from greater security without harming the user experience of contactless. Or slowing throughput time for merchants, says Fingerprints’ Lina Aondolf-Orup.

Innovation is showing little sign of slowing, creating both myriad benefits and risks moving ahead, says Visa's Paul Fabara.

Consumers face significant risk if this highly personal information is exposed, says Mitek's Stephen Ritter.

The first line of defense is to not pay the ransom. Then a layered approach to security and recovery plan can ward off the crooks, says Nominet's Stuart Reed.

A new report from the National Credit Union Administration's Office of the Inspector General outlines what to expect in the year ahead following some 2019 scandals.

PNC, Plaid and Venmo have been blamestorming over customer data-sharing issues of access, security and consent.

Deposit Solutions says lenders can use its platform to acquire customers at little expense.

Open banking transactions are not initiated by a consumer but are coming from another financial services company. This could make some fraud detection models in place today obsolete.

The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.

Cybercrime has become harder to fight as it becomes more sophisticated. Criminals have deployed technology that can infiltrate a consumer's personal computer and copy parts of the underlying hardware and mimic typing speed, style and other computer habits of the user.

The National Credit Union's ACET tool will have a big impact on the industry, but passing the exam with flying colors could be a challenge for smaller shops.

A new system uses biometrics and distributed ledger technology to safeguard call centers from identity theft attacks.

In the four years since Nets set up a laboratory at its Copenhagen headquarters to test new approaches to payments, it’s learned that consumer response to biometric payments technology such as finger-vein checkout is nearly impossible to predict.

Payments messaging standards provider Swift has opened its global Know Your Customer registry to all the corporations it connects to following a successful test.