Capital and Risk, Channels, Operational
July 11, 2022
Via: FinTech FuturesAs more governments consider launching a central bank digital currency (CBDC), they face many important questions: Why create a digital dollar, euro, or rupee? What technology best fits that purpose? How might a CBDC affect competition in the market? Policymakers […]
June 23, 2022
Via: FinTech FuturesThe collaboration aims to aid companies and their operations through AI, machine learning, automation and data and analytics applications on the KPMG proprietary Digital Gateway platform, enabled by the Microsoft Azure cloud. The companies say that the investment in new […]
June 22, 2022
Via: Banking DiveFlagstar said it has no evidence that any of the information obtained in the breach has been misused. The bank has hired the global consultant Kroll in the aftermath of the breach. “Nevertheless, out of an abundance of caution we […]
June 9, 2022
Via: FinTech FuturesBLKB selected NetGuardians’ fraud mitigation software and plans to go live with it in H2 this year. “Everything we do is for our customers,” states Christoph Schaer, chief operating officer (COO) at BLKB. “By working with NetGuardians we will be […]
June 6, 2022
Via: TechBullionThe announcement by Fidelity that it will provide 401K asset management services for Bitcoin is just the latest sign of crypto becoming a mainstream asset. Now, the question for investors is how to approach this immature and extremely volatile market. […]
Capital and Risk, Operational, Regulations
June 6, 2022
Via: JD SupraThe New York State Department of Financial Services (NYDFS) recently issued guidance on the use of blockchain analytics for all virtual currency businesses that either have a BitLicense or are chartered as limited purpose trust companies under the New York […]
May 16, 2022
Via: American BankerThe global COVID-19 pandemic has shone a floodlight on financial vulnerabilities and the stress they cause for families. A recent survey shows that only 22% of Americans give themselves high scores on their own financial wellness. This is a failing […]
May 13, 2022
Via: Bank DirectorAfter rapidly adjusting operations at the start of the pandemic and accelerating their digital transformation roadmaps, banks are left wondering: What happens next? And what did the acceleration mean for banks’ digital strategy? Banks need to shift their mindsets from […]
May 3, 2022
Via: Bank DirectorBy now, most bank leadership teams understand the importance of offering well-designed digital experiences. What we’ve found is often more elusive is knowing where to start when making a significant investment in digital. One bank that recently grappled with this […]
April 26, 2022
Via: Bank DirectorThere is a pervasive data conundrum throughout the financial services industry: Banks have an inordinate amount of data, but antiquated and siloed solutions are suppressing incredible, untapped opportunities to use it. Data analytics offer banks seven distinct and tangible benefits; […]
April 7, 2022
Via: Bank DirectorThere is no question that digital transformation has been a long-term trend in banking. However, innovation is not instantaneous. When faced with the obstacles the recent pandemic presented, bankers initially accelerated innovation and digital transformation on the consumer side, thanks […]
April 6, 2022
Via: Insurance JournalFor anyone who wants a phony pay stub or doctored tax return, an easy source is just a click away. A website called banknovelties.com claims it can provide “fake bank statements” as well as “fake pay stubs,” “fake utility bills” […]
March 14, 2022
Via: American BankerLake Shore Savings Bank in Dunkirk, New York, disclosed in a financial statement to investors that it had suffered a data breach after hackers gained access to customers’ personal information. The bank, which recently reported it has just under $600 […]
March 2, 2022
Via: Insurance JournalCyber claims from small and midsize businesses saw a “material uptick” in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its 2022 Cyber Claims Report, Coalition concluded that from 2020 […]
February 22, 2022
Via: YahooU.S. Bank today announced a substantial investment in modernizing its technology foundation through the selection of Microsoft Azure as its primary cloud provider for U.S. Bank applications. Powering the majority of its infrastructure and application portfolio with cloud computing will […]
Capital and Risk, Channels, Operational
February 21, 2022
Via: FinTech FuturesOpen banking empowers individuals to benefit from their financial data through a simple, secure connection they permission from their banks to their favorite financial app. Fintech services powered by open banking data are gaining adoption across the banking and financial […]
February 9, 2022
Via: Insurance JournalThe European Central Bank is preparing banks for a possible Russian-sponsored cyber attack as tensions with Ukraine mount, two people with knowledge of the matter said, as the region braces for the financial fallout of any conflict. The stand-off between […]
February 9, 2022
Via: FinTech FuturesWhile analysing past behaviour might be successful in catching certain serial offenders, criminals that want to launder money anticipate this way of working and typically will not stick to a pattern. Still, anti-money laundering (AML) and fraud systems are designed […]
January 11, 2022
Via: Bank DirectorThere has been much chatter about open banking over the last couple of years, and for a good reason. If it stays on its current growth trajectory, it could revolutionize the financial services sector worldwide, forcing changes to existing business […]
Capital and Risk, Insurance, Operational
January 6, 2022
Via: Insurance JournalThe “Lloyd’s Product Launchpad” is the new home for the development of insurance solutions to tackle emerging risks. The Lloyd’s Product Launchpad has been created to replace the Product Innovation Facility and enable the Lloyd’s market to keep partnering with […]