Risk

Implementing real-time documentation and reporting workflows enabled by AI-powered speech recognition cuts time, says Nuance Communications' Ed McGuiggan.

By implementing email protections and patches, the bank was able to protect mobile payments, ATMs, and digital banking, says Red Canary's Tony Lambert.

In the coming months, governments will continue to disburse truly historic amounts of funds; and we can continue to expect historic levels of fraud. Leveraging technology can get money to those who deserve it while preventing criminals from exploiting this crisis, says Giant Oak's Gary Shiffman.

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

This information can be used to access bank accounts and combined with other information on the dark web to access social media profiles, email accounts and more, says Jumio's Robert Prigge.

Businesses must take steps to manage Shadow Code data breach risk by applying timely security patches and upgrading vulnerable open source libraries and third-party plugins, says PermiterX's Ameet Naik.

The actual exposure could be more than ten times the initial breach, due to downstream sales of data, says Bitglass' Anurag Kahol.

Subprime borrowers, who rely more on credit cards than any other group, are seeing their limits cut the most as banks reduce exposure during the coronavirus pandemic.

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.

There’s never been a better time, nor better technology available, to make cardholders safe from card-not-present fraud, says Keyno's Robert Steinman.

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.

Citigroup’s $900 million payment blunder in a normally low-profile part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.

The Federal Reserve could ease capital rules, foster the creation of special-purpose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.

Barb Godin, the deputy chief risk officer and chief credit officer at the Birmingham, Ala., bank, is stepping down after a 45-year career in banking.

Consumers are right to worry about data mismanagement. But there are ways to benefit from analytics while respecting privacy, says Cape Privacy's Ché Wijesinghe.

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.

Devon Bryan, who held similar jobs at KPMG and the Federal Reserve System, succeeds Brian DiPietro, who had been information security chief since 2016.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The industry will have to grapple with pressure on net interest margins, interchange income and credit quality, said CUNA Mutual's Steve Rick during a virtual conference.

The rapid move online boosts false positives, false negatives and actual fraud, says Adara's Nguyen Nguyen.