Risk

The group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.

Institutions need to think about revenue streams and portfolio diversification as the coronavirus affects much of the U.S. economy.

Large spikes in transactions and unusual payment amounts can be a response to the pandemic, not a sign of fraud, says Genpact's Manish Chopra.

Some megabanks are pushing New York lawmakers to add a legal safe harbor if lenders use the new Secured Overnight Financing Rate. Smaller banks would have little choice but to take that option.

Bots can complete tedious tasks, such as validating customer information against standard databases, more quickly and accurately than people and free up staff for other parts of the payment crime fight, says Genpact's Manish Chopra.

Cybercrime has emerged as one of the biggest potential sources of risk to the financial system over the last 20 years, and cybersecurity is a paramount concern to bankers everywhere. But can the internet be made more secure?

Computers were invented to calculate quickly and efficiently, and the emergence of the internet opened up enticing new possibilities for communication and commerce. But security has long been an afterthought.

The government's approach to cybersecurity has evolved gradually over the last 40 years, and what we have now is a patchwork approach that serves some critical infrastructures better than others.

The advent of advanced quantum computers could upend encryption as we know it, and a race is on to protect cyberspace before one arrives. But no one knows when that will be, and updating the internet will require a new approach.

Introducing Zero Day, a five-part podcast on the structural challenges cybersecurity poses for the financial system and why those problems are getting harder to solve.