Risk

One expert offers credit union leaders "the best defense against risk" and lessons from previous economic crises.

Even as the payments landscape has become increasingly complicated and convoluted over the past several years, many industry players have not kept pace with their payments testing methods or tools, writes Steve Gilde, director of global product marketing for Paragon Application Systems.

IBM claims that by monitoring customer behavior first and foremost, banks can make suspicious activity reporting far more accurate.

It's a fickle industry, given the uncertainty over the Affordable Care Act and government reimbursements, but opportunities in lending to medical practices and device manufacturers make it hard to resist, bankers say.

The trading ban is even less effective than feared at making the banking system safer.

Concern over Exobot is spreading beyond banking and across other sectors where customers regularly transact online, from e-commerce and retail to health care, writes Don Duncan, security engineer for NuData Security.

Consumers generally approve of GDPR’s goals of tightening data-protection and consumer privacy, and more than half would consider fleeing to another provider if they suspected corporations were unclear in their communications or intentions about gathering data.

Real-time graph technology and analytics offer a rare opportunity to revolutionize the entire field of AML in banking and financial services. It will become the industry best practice in the near future and may well become part of the regulatory expectations, according to Gaurav Deshpande, vice president of marketing at TigerGraph.

Lack of preparation for a PCI DSS assessment usually results in unexpected and unnecessary expenses, as well as lost productivity among all parties involved, writes Marc Punzirudu, director of security consulting services at ControlScan.

Given how much financial activity occurs every second, every day, it’s important for banks and financial organizations to develop a robust AML strategy that is effective in stopping fraudsters in their tracks, according to Gaurav Deshpande, vice president of marketing at TigerGraph.

Wells Fargo estimates that in 400 instances, borrowers later went through foreclosure who were improperly denied or not offered a mortgage modification.

The regulator’s move comes as Congress is considering legislation that would offer credit unions an even lengthier delay.

Payment companies have a responsibility to both merchants and consumers to emerge as brands in their own right, with values that resonate not just with the businesses they are supporting, but with the customers using their services, writes Koen Vanpraet, CEO of Intrapay.

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

It’s anyone’s guess when the National Credit Union Administration’s controversial risk-based capital rule will take effect.

A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.

The outage that halted a portion of Visa payments in Europe was almost two months ago, but the card brand is still explaining what happened and attempting to isolate the incident.

Multifactor authentication is table stakes in today's breach-heavy environment. Falling short of that standard creates a dangerously high threat, according to David Vergara, head of security product marketing for OneSpan.

As interest rates rise, banks need to watch how much they are paying on deposits to avoid exceeding rate caps designed to ensure liquidity.

The House appropriations bill would also expedite the appeals process for CFPB examination decisions and reduce the number of times big banks must submit resolution plans to every two years.