Risk management

Germany's state-owned development bank KfW, which gained publicity for erroneously transferring hundreds of millions of euros to Lehman Brothers the day the U.S. firm filed for bankruptcy, has done it again.

So-called performance-share units are pushing aside stock options as the preferred long-term incentive pay for bank executives. Many investors and regulators fear that options can encourage reckless conduct and have other shortcomings, though options still have supporters.

The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said.

The financial services industry has been using artificial intelligence for decades in trading, and as the technology gets smarter it’s being tested more often with payments as well.

Firms need to evaluate risks ranging from hackers spreading false information about the bank to an executive’s inappropriate social media posts.

The certification covers compliance, risk and strategy expertise as the payments industry becomes increasingly digitized and global.

If the megabanks' Zelle person-to-person payment service takes off, it will serve as much as a blueprint for collaboration as it does for digital payments.

In her work as a data scientist for several payments startups, Afra Khan's key skill is leveraging fast-evolving technology tools to analyze consumer financial behavior and block fraud before it strikes.

Fraudsters have a strong desire to take over a consumer's accounts or create new accounts to commit fraud by purchasing clothes or shoes to resell or initiate other crimes or chargebacks.

The insurance company, facing regulatory scrutiny and lawsuits over a former sales relationship with Wells Fargo, said it may press its partner to cover costs after halting the sales.