Risk

The San Francisco company forecast a modest profit in the third quarter because its cost-cutting plans are ahead of schedule. It's also starting a program to sell riskier loans to sophisticated investors.

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.

Most cloud storage systems have gaps that open the door to account takeover, API attacks and other threats, argues Pravin Kothari, founder and CEO of CipherCloud.

To address users’ privacy concerns, secure data and avoid litigation or fines while delivering a competitive customer experience, financial institutions must adopt a customer digital identity and access management (CIAM) strategy, says ForgeRock's Ben Goodman.

The approach could work as long as the Fed were to add certain thresholds.

The time is ripe to move decision-making up the ladder and for organizations to bite the bullet by creating a more inclusive comprehensive strategy for the overall business that considers all the disparate security needs, writes Madeline Aufseeser, an analyst and fintech executive.

It’s the latest development in a foreign-exchange-related case that has triggered regulatory probes around the world, and it's one of the first cases to be brought under 2015 U.K. legislation that paves the way for U.S.-style class actions.

A traditional rules-based fraud system will not be capable of detecting synthetic identity fraud. A combination of supervised and unsupervised machine learning algorithms must be implemented to process the data necessary to effectively segment good and bad identities, says Steven D'Alfonso, research director at IDC Financial Insights.

In their efforts to understand data privacy regulations and maintain compliance, it’s become clear that a large number of retailers simply don’t know the true whereabouts of their customers’ data, never mind how that data is being used, says Cleo's Dave Brunswick.

KeyCorp, Regions Financial and others have sacrificed short-term profits to avoid being crushed by an anticipated decline in interest rates.

Rachel Pross, chief risk officer at Maps Credit Union, told the Senate Banking Committee the inability for more banks and CUs to safely serve the legal pot industry is having an effect on ancillary businesses.

New regs force financial institutions to go deeper to stop laundering, but the prize is easier overall enrollment, says NTT Data Services' Edmund Tribue.

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

From data rights to common security measures, organizations that provide clarity on how companies handle financial data and access can pave the way to more fruitful relationships, writes Steve Smith, chairman, CEO and co-founder of Fincity.

The technology provides convenience and is growing fast, but is prone to card-not-present fraud, says Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

Once a dataset’s data and lifecycle events are in a known state with lineage, new and exciting opportunities are possible, writes David Levine, head of data product strategy for PeerNova.

Fraud targeting accounts payable departments had been on the rise to begin with, but a new sense of urgency has taken hold in the wake of a recent incident that cost Facebook and Google $100 million.

A handful of institutions in the last year have rolled out loan programs targeting members of the military and first responders, but there could be risks associated with these mortgages if the economy takes a nosedive.

Credit unions can reduce concentration risk and free up funding for new loans though participations but many institutions are hesitant about the process.

Only one CU in West Virginia wants to enter the pot banking space, but they're going against the grain not just of the state's credit union league but an industry where fewer than 1% of institutions are serving that market.