Risk

PSD2 compliance remains a necessary step to protect data and ID even if the coronavirus presents more challenges, says GlobalSign's Arvid Vermote.

The coronavirus is accelerating contactless and digital payments, while upending traditional funding models for fintechs, says Sage's Pamela Novoa Ralli.

Modern life can be full of anxieties for people living paycheck-to-paycheck, especially during times of emergency such as the COVID-19 pandemic.

Contactless, mobile and a retreat from cash are just the start. The coronavirus will upend the entire payments process, said Icon Solutions' Simon Wilson.

Historical data doesn’t paint a sufficient picture in a business climate characterized by rapid, unexpected change and lingering uncertainty, says MSTS' Brandon Spear.

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.

Whether presented at the teller line or through digital channels, the best way to prevent fraud is by triangulating items in real-time against a robust fraud database. To strengthen the database, fraud data needs to be contributed in return, says Advance Fraud Solutions' Ted Kirk.

Not everything is in decline. T&E approval processes need to be ready for spikes in invoices for streaming content, tele-meetings and remote technology rather than air travel and hotels, said AppZen's Uri Kogan.

Inside Citigroup's headquarters in Manhattan, executives are trying to solve a problem bedeviling much of Wall Street: How to get employees up elevators.

Smaller institutions should prepare themselves for some of what the competition has experienced, including increased provisions for losses and declining net interest margins.

As phishing and other attacks mount, a personal ID number can act as a second authentication factor, says LogRhythm Labs' James Carder.