Tag: data security


8 Challenges Fintech Startups Should Be Ready to Face

October 13, 2022

Via: TechBullion

“Can Fintech change how traditional banks function?” “What effects will it have on the global economy in the long run?” “Can Fintech match the stability and reliability of traditional banking systems?” Most people have these questions when they first hear […]


The carrots and sticks of open banking

July 7, 2022

Via: American Banker

Each American bank has an opportunity to stay ahead of the regulatory environment by adopting and building open banking systems that serve both its customers and the bank itself. That’s according to experts who discussed the subject at American Banker’s […]

Capital and Risk, Operational

How identity fraud is costing fintechs millions each year

September 15, 2021

Via: FinTech Futures

While this sounds great on the surface – who doesn’t want access to more sophisticated knowledge, after all? – it presents serious challenges as well. One of these challenges comes in the form of identity verification. Public access to media […]

Capital and Risk, Operational

Morgan Stanley blocks remote network access for China interns

July 27, 2020

Via: Banking Technology

The FT reports that the news comes “as foreign companies become increasingly concerned about Beijing’s tough cybersecurity rules”, despite China’s cybersecurity laws covering similar regulations to the EU’s General Data Protection Act (GDPR) or the EU Cybersecurity Act. The Wall […]

Capital and Risk, Operational

Creating data trust as the basis of open banking innovation

June 5, 2020

Via: Finextra

More than ever before, banks need to stay relevant, as traditional financial services companies are competing with far nimbler challenger brands that are changing traditional service models and product mixes. We’ve seen this accelerate, as the world continues to be […]

Retail Banking

JP Morgan vows to ban fintech apps from using customer passwords

January 3, 2020

Via: Banking Technology

Bill Wallace, Chase’s head of digital, told the Financial Times the lender was working towards getting customers’ passwords “out of the system” and instead issuing tokens that send third parties a narrow range of data in a secure form. Aggregator […]

Retail Banking

Capital One reveals huge data breach by hacker

July 30, 2019

Via: Banking Technology

An external security investigator notified Capital One on 17 July and the breach was confirmed on 19 July. The FBI has arrested the alleged hacker and taken them into custody. The Financial Times reports that the suspect is Paige Thompson, […]

Capital and Risk, Operational

Open Banking is in the customer’s hands in the age of data breaches

December 5, 2018

Via: Finextra

Jon Roughley, director of innovation and strategy UK&I at Experian, explained that although it has “taken a lot of internal pain, data should not be trapped and consumers are now understanding that their personal information should be theirs to be […]

Capital and Risk, Operational

Revolut Designed a Virtual Card to Prevent Fraud, By Renewing User Details With Each Payment

March 22, 2018

Via: Bank Innovation

UK-based fintech Revolut’s newest product is a “disposable” virtual card, a product that was designed with fraud protection in mind, the fintech announced today. The card, which sits inside Revolut’s mobile app, wipes a user’s details and resets them after […]