Data and information management

Financial regulators’ statement cautiously encouraging lenders to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.

The age of PINs and passwords are sadly not yet gone, but new devices and digital services will need more advanced authentication, says Fingerprints' Maria Philstrom.

While the road to API connectivity has not been smooth, solid progress is being made in connecting banks to third parties, says Token's Todd Clyde.

Whether data leaks come from internal mistakes and exposures or from direct hacking, the outcome is the same. Data is exposed and cybercriminals are using it for fraud today, next year or several years from now, says NuData's Rosemary O'Neill.

Testing shows an overreliance on machine learning data can unfairly harm credit scores.

In updating its point-to-point encryption standard, the PCI Security Standards Council says the resulting simplified validation process for component and software providers will result in more products available for cardholder data protection.

Radius Bank is letting consumers open accounts through NerdWallet as part of its banking-as-a-service offerings to reach customers through third parties.

Banks are increasingly sharing data and must brace for new regulations protecting that data.

The leader of a new Compliance and Payments Task Force dives into how it will address emerging issues of counterterrorism financing in the digital age.

The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.

When a crisis does strike, all too often organizations struggle to coordinate ongoing, speedy and effective responses, even when they have valid and compelling things to say, according to RockDove Solutions’ Chris Britton.

Citizens Bank's Bruce Van Saun is our Banker of the Year; shake-up continues at Wells Fargo with poaching of Santander's CEO; the Navy commander behind the credit union banks love to hate; and more from this week's most-read stories.

The U.S. unveiled criminal charges and sanctions against members of a group that calls itself Evil Corp, which authorities blame for some of the worst computer hacking and bank fraud schemes of the past decade.

The largest U.S. bank will share data through application programming interfaces with a sometimes-controversial data aggregator.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.

A 15-hour shutdown of online banking, mobile banking, ATMs and wire transfers was caused by a single data storage unit. BB&T's lawsuit blames the vendor, but the bank may have left itself too exposed to equipment failure.

The CFPB has promised an equal-access rule for small-business lending for nearly a decade. But Apple’s recent discrimination inquiry into its credit card could force the agency’s hand.

While we expect growing consumer demand for biometrics, we also expect to see payments industry players move toward these types of future-proof technologies and away from legacy password-type systems, says Nuance Communications' Simon Marchand.

Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely.