Risk

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.

See this crisis not as a nail in your corporate coffin but as an opportunity to move your team and members forward, said OBI Creative CEO Mary Ann O'Brien.

The biggest takeaway from this hack should be large digital media companies reworking their admin controls

Securities laws, in spite of their shortcomings, exist for very good reasons: to regulate the fair exchange of units of ownership, to protect individuals from fraud or exploitation and to identify bad actors and hold them accountable.

Trust in biometrics solves the major obstacle to even wider contactless adoption: contactless spending limits, says Fingerprints' Christian Frederickson.

While the use of behavioral biometrics such as keystroke patterns has become commonplace for web-based security, this has less applicability to mobile commerce given the different form factor and interface of a smartphone, says Incognia's André Ferraz.

Some criticized the Fed’s decision to temporarily lift capital restrictions for megabanks, but the move will help ease the crisis.

Payment fraud remains a credible threat and unfortunate reality for the majority of businesses, something that is unlikely to go away as fraud methods continue to evolve, says JPMorgan Chase's Alec Grant.

The trio of clients that got Deutsche Bank in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase.

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.