Category: Operational

Capital and Risk, Operational

BBVA and Google Cloud Form Strategic Partnership to Drive Security Innovation in Financial Services

February 23, 2021

Via: PR Newswire

BBVA and Google Cloud today announced a new strategic partnership to transform the bank’s security strategy by optimizing and improving its security infrastructure. As part of this global agreement, BBVA will collaborate with Google Cloud in the development of groundbreaking […]

Capital and Risk, Operational

Learning to safeguard vulnerable customers in a digital world

February 19, 2021

Via: FinTech Futures

This is a sizeable figure and one that could grow if the economic impact of COVID-19 worsens. According to one BBC report, two million people deferred repayments on credit cards and loans at the height of the pandemic in spring […]

Capital and Risk, Operational, Regulations

UK government unveils digital identity plans based on wallet tech

February 17, 2021

Via: FinTech Futures

Conservative MP and minister for digital infrastructure, Matt Warman, led the policy paper and calls it “a first stage industry prototype”. He also cites Canada, Australia, Sweden and New Zealand – countries taking similar approaches to digital identity as the […]

Capital and Risk, Operational

Cyber Attacks Cost Russian Companies and Citizens $49B in 2020: Sberbank

December 29, 2020

Via: Insurance Journal

MOSCOW – Cyber attacks have cost Russian companies and citizens up to 3.6 trillion roubles ($49 billion) this year, the country’s largest lender Sberbank said. Russia has encouraged its citizens to switch to bank cards and limit cash use to […]

Capital and Risk, Operational

Banks and bad actors: the race to digitally adapt

December 24, 2020

Via: FinTech Futures

Firms must start building on the lessons learned during the initial crisis if they are to survive the second wave, meaning customer experience and fraud should be working hand in hand right now for banking leaders. As an industry, banking […]

Capital and Risk, Operational

2020 review: Top five cyberattacks this year

December 22, 2020

Via: FinTech Futures

Ransomware is on the rise across all sectors. Sophos reports that half of all companies it surveyed had been hit by a ransomware attack and 48% of financial services firms reported being targeted. As fraudsters get more sophisticated, we will […]

Capital and Risk, Operational, Retail Banking

Bank of America flags 640K accounts on suspected unemployment benefits fraud

December 10, 2020

Via: Banking Dive

Bank of America issued more than 8.2 million cards holding more than $105 billion between March and November under a contract with the California Employment Development Department (EDD). After the EDD announced that nearly 350,000 of its debit cards had […]

Activity, Capital and Risk, Insurance, Operational

Intact, Resilience Insurance to Provide Cyber Risk Coverage, Services

November 19, 2020

Via: Insurance Journal

Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s (IFC) U.S. insurance company subsidiaries, has launched cyber insurance options that will be offered in partnership with program manager Resilience Insurance. Through the new partnership, standalone cyber coverages coupled with […]

Capital and Risk, Operational

Unlocking the benefits of unstructured data in banking

October 20, 2020

Via: FinTech Futures

But the sector wasn’t always as open to embracing new technologies. Until the arrival of challenger banks like Monzo and Starling Bank a little over five years ago, who showed the benefits that taking a digital-first approach could bring, traditional […]

Capital and Risk, Operational

Global card spend grows 13% in 2019, mostly down to China’s UnionPay

October 9, 2020

Via: Banking Technology

The report cited three main drivers for the strong growth: financial inclusion initiatives in developing countries, rise of contactless in more mature markets, and the hygiene concerns around cash during COVID-19. UnionPay – the world’s largest card payment organisation based […]