Data security

In a major break from the Payment Card Industry security standards playbook, merchants and service providers using newer technologies would have the opportunity to rewrite network operation and testing procedures when achieving compliance.

Good communication is integral to facilitating collaboration between departments and offering a reminder that security is not achieved solely within the IT department; rather, it is a team effort, says KnowBe4's Javvad Malik.

Mastercard has rolled out a set of AI-powered tools to thwart fraud and data breaches across banks' ecosystems, particularly to benefit acquirers’ online merchants.

Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.

The rulemaking is expected to draw enormous interest from both banks and third-party fintech providers.

Industry groups have launched new programs that are expected to carry over into 2021, while others are raising new calls for Congress to tackle data security.

The credit union regulator has held back in allowing the use of derivatives but has released a proposal that would remove red tape for some larger institutions.

Executives and technology analysts offered a host of concerns that are likely to dog credit unions well into the new year.

Swedish point of sale credit company Klarna put itself in the awkward position of apologizing and trying to explain marketing emails to surprised and angry consumers, a misstep for a firm whose credit card alternative has found major traction during 2020’s crises.