Risk

With a growing number of new applications integrated into the fabric of banking and financial services businesses, security throughout the system becomes a critical success factor, says White Hat Security's Craig Hinkley.

Small businesses have been hard hit by the pandemic, meaning commercial lenders are considering how they can better manage risk in this portfolio and make other changes to help.

Tia Ilori, Senior Director of global fraud and breach investigations at Visa, joins us to talk with Michael Moeser, PaymentsSource's senior analyst, about the new attacks and fraud trends that have emerged since the start of the pandemic.

Bank consolidation has been stagnant since the pandemic hit, and the outlook for the rest of the year is bleak.

With multiple business sectors reeling from the pandemic, banks are facing tighter net interest margins, provisioning more for losses and seeing their balance sheets expand, the agency said in a report.

With more employees than ever working from home due to the coronavirus, credit unions' networks may be less secure than usual. But purchasing cyber insurance to help cover the costs if a breach occurs isn't as clear cut as it may seem.

Always view fraud prevention tactics and strategies within the proper context. Be aware of current economic and societal conditions and analyze how behaviors may vary, says Sift's Jeff Sakasegawa.

It's not enough to just get rid of cash or go contactless. There's an entire experience to consider, says Tappit's Jason Thomas.

Brick-and-mortar merchants that have shifted to online have changed their risk profile, causing conflicts with the fintechs like Square that handle their payments. And that could be an opportunity for banks.

Borrower relief is necessary in a national emergency, but if the exclusion of the deferred loans from troubled-debt restructurings is extended past the end of the year, safety and soundness could be compromised.