Risk

The recent Dodd-Frank rollbacks for smaller banks could encourage risk-taking that leads to a systemic issue.

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features and more time-saving capabilities.

For banks and other financial institutions to survive and thrive in the age of mobile payments and e-commerce, they need to continue to enhance their mobile apps with more innovations, tighter security features, and more time-saving capabilities, says Informa Financial Intelligence's Gina DeCorla.

Moving to an open banking system comes with both costs and benefits that each bank will need to weigh before diving in.

It might sound like a risky strategy at a time when millions of Americans are drowning in debt: keep raising the limit on people’s credit cards, even if they don’t ask.

The Massachusetts senator and presidential contender sent a letter to eight of the biggest U.S. banks asking about how they assess climate-related risks to assets and how they plan to mitigate social and economic fallout.

The concept can enable chargeback abuse, and if this “blind-eye” approach continues to dominate, the bad behavior will only get worse, says Chargeback 911's Monica Eaton-Cardone.

Criminals will react to the EU legislation by changing their modus operandi, says Nets' Sune Gabelgard.

The two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran.

The ransomware attack chain uses a number of methods to infect an organization's systems, which can easily bypass an entire organizational security framework in seconds, according to Exabeam's Richard Cassidy

Open banking and identity services are both still evolving to meet the needs of the new digital economy. These communities will need to connect at the hip to prevent fraud, avoid identity theft and to deter other financial crimes, like money laundering.

Data privacy regulations may be improving, and tech companies may now be forced to be more transparent about their practices, but the fact remains that vast quantities of personally identifying information are already out in the wild, says TRUSTID's Patrick Cox.

WhatsApp may be a great way to communicate with friends, but when Wall Streeters touch it, their firms get very nervous.

Financial institutions need to be aware of the platform model, strategic and reputational hazards that come with granting access to their networks.

Fraudsters can attack multiple individuals with the same scam, knowing that the details won’t be shared. Sharing the details of a scam takes that advantage away, says The ai Corporation's James Crawshaw.

Facebook, Instagram and other platforms can help credit unions differentiate themselves from big banks, but CUs that don't use these platforms strategically could be opening themselves up to risks.

Conflict continues to mount between the card brands and merchants. Merchants say they deserve more input and actual decision-making power and that payments should operate through completely open standards in which all involved parties have had a say.

Akin to the democratization of computing power through personal computers, the growing use of AI will continue to fuel new products and services in payments and have a significant impact on society. But AI will also introduce tremendous challenges due to its potential use by threat actors, says Visa's Paul Fabara.

Granting a third party access to a bank's systems in exchange for more advanced technology can help prevent fraud, but it can also attract cyberattacks.

The industry faced a host of bad press coverage over the last year or so. Analysts say it may not resonate with consumers, but it could hit home with a more important audience.