Risk

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.

The complexity of the migration is an opportunity to examine other elements of the payment experience, says TNS' Brian DuCharme.

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

Many banks buy modeling tools from vendors to help detect new areas of risk, fraud and profitability without realizing their existing systems are capable of doing the same.

A good security strategy is a lot like a healthy lifestyle for small businesses, says Sysnet's Sandra Higgins.

Video games provide a rare escape to locked-down consumers, and many modern games are so sophisticated that they support their own digital storefronts — with the potential for real-world losses if fraudsters find a way in.

One of the few clear implications from the initial two months of the lockdown with the changes to consumer behavior and the uncertainty ahead is the imperative for organizations to regain clarity on credit risk by obtaining a more complete picture of consumer creditworthiness, says LexisNexis Risk Solutions' Ankush Tewari.

An industry coalition wants to ensure borrowers who took out certain types of loans to fund their education aren’t locked out of access to historically low mortgage rates.

It’s likely that our dependence on digital channels will have become the norm, which means that security protocols like EMV 3-D Secure should also become part of the new status quo, says Entersekt's Simon Armstrong.

Scams have ranged from false, pseudo-scientific charities raising money for “cures” or “medical research," to fraudsters preying on individuals who want to donate to medical and emergency staff in hospitals or care facilities, says The ai Corporation's James Crawshaw.

EventBot is a particularly frightening development since it hides in an altered version of an app that seems legitimate and steals unprotected information in banking, wallet, payment and cryptocurrency mobile apps, says Appdome's Tom Tovar.

Lexicon Bank in Las Vegas, whose chairman was a professional gambler, is actively courting poker players to open deposit accounts for their tournament winnings.

As demand for secure and seamless digital payments increases, financial institutions must prioritize a digital-first payments strategy that incorporates the latest trends, says CSI's Matt Herren.

Business size and payment volume all play a role in what's needed for compliance, says 2Checkout's Madalin Cojocariu.

Realize that everyone is your customer; your members, employees, partners, vendors and the general population, says OBI Creative's Mary Ann O'Brien.

Factoring in customer behavior as an element in the risk profile can provide financial institutions with better assurances in their lending practices, consultants Maria Arminio and Bo Berg say.

Nobody likes making errors or admitting they make them, but they are a fact of life when you’re sending payments, says Nvoicepay's Deirdre Christensen.

In this uncertain environment, companies that are nimble and adaptive are rising to the challenge, finding new ways to navigate the crisis and embracing innovative electronic solutions, says Bank of America's Daniel Stanton.