PYMNTS

JANUARY 13, 2020

Wells Fargo has had trouble meeting regulator expectations due to obsolete methods and resources and is trying to revamp its approach to technology to address digital security and regulators’ concerns. Application program interfaces (APIs) bring much needed convenience to banks operating a variety of tools needed for daily operations.

Mobile 131

Mobile Payments Regulation Resources 131

PYMNTS

JANUARY 22, 2020

The new platform combines buyer units and suppliers in one platform, places the supplier data and responsibility with the suppliers, and is on a blockchain network that’s accessible by a distributed application in a way that allows for the data to be shared securely.

blockchain 132

blockchain Software Data Resources 132

PYMNTS

AUGUST 15, 2019

Seventy countries had adopted the standard as of May 2018, and it is expected to support 87 percent of the world’s financial transactions by 2023. Deep Data For Swift, Secure Payments . High-value payment systems operated by the U.S. Federal Reserve and TCH, Europe’s Eurosystem and EBA CLEARING and the U.K.’s

Resources 145

Resources System Data Payments 145

PYMNTS

JUNE 29, 2020

SMBs and merchants operating in the EU must comply with strong customer authentication (SCA), which mandates stricter authentication requirements for online and contactless purchases above a certain value. Banco de España, Spain’s central bank, granted the license, which enables RevoluPAY to operate within all 27 EU member countries.

How To 239

How To Payments Management social media 239

PYMNTS

DECEMBER 28, 2018

To prepare for the settlement expense, the bank put aside $400 million in the third quarter of 2018, and will pay the rest by the end of the year. Securities and Exchange Commission, the Department of Justice and the Department of Labor. Wells Fargo’s troubles are far from over. It faces an inquiry by the the U.S.

California 158

California Resources Management System 158

PYMNTS

NOVEMBER 23, 2020

While technological advancements have revolutionized many aspects of operations, payroll and expense management are not [among] them. Banking as a service makes it far easier for [entities] from startups to multinational corporations to access and create simple, fast, secure and transparent full-fledged financial products,” Athavale said.

System 165

System Management Tools Cards 165

PYMNTS

APRIL 20, 2018

PayGroup provides multi-currency payroll and human resources solutions; the firm also serves as the holding company for PayAsia, a cloud human capital management software and business process outsourcing provider to medium-sized and large, multinational conglomerates with operations in multiple countries. million for fiscal year 2018.

Software 100

Software Capital Security Resources 100

PYMNTS

NOVEMBER 30, 2020

101 percent more BEC scams have hit New Zealand businesses between July and September of this year , with total losses in the country hitting nearly $700,000, according to a report from Human Resources Director , citing data from CERT NZ. This unfortunately makes it an easy target for cyber attackers who are looking to make a quick buck."

Fraud 177

Fraud Cyber Security Data Software 177

PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. Around The Data Protection And Security World. Security . To learn more about U.S.

Data 199

Data Retail US California 199

PYMNTS

JANUARY 29, 2020

A significant number of firms — notably small- to medium-sized businesses (SMBs) — still use such systems, as 25 percent of smaller firms stated in 2018 that their payroll involved pen-and-paper methods. A 2018 report found that 21 percent of the fraud SMBs see is expense reimbursement fraud from their own employees.

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

APRIL 24, 2019

The firm conducted a comprehensive and diligent search for a new CEO, led by the board’s human resources committee and advised by an independent search firm. “I He was also an executive sponsor of SWIFT ’s customer security program from 2016 to 2018, and helped lead SWIFT’s response to cyber challenges facing the payments industry.

Leadership 169

Leadership Regional America Community 169

PYMNTS

JANUARY 17, 2020

billion in 2018. A lot of companies keep using checks because it takes a lot of resources for systems to process payments electronically, and it’s not easy to convince other partners in business to start using electronic payments either. 15) by The Wall Street Journal. Check fraud, or the attempt to perpetrate it, has gone up from $8.5

Fraud 141

Fraud Survey California Resources 141

PYMNTS

JUNE 24, 2020

trillion in premiums for 2018, according to one recent report , a notable portion of the wider industry’s approximately $5 trillion in revenue that year. The space recorded a 66 percent increase in net income, hitting $60 billion in 2018, for example, and the first half of 2019 saw individual insurer Lloyd’s report a $2.8

Industry 152

Industry Payments Examples System 152

PYMNTS

APRIL 16, 2020

Not only do industry giants have innate name recognition, but they also have colossal advertising budgets and access to cutting-edge mobile ordering technology and features that small operations cannot match. This is on top of a staggering 347 percent increase in account takeover (ATO) fraud between 2018 and 2019.

Fraud 130

Fraud Chicago Resources Mobile 130

PYMNTS

JANUARY 20, 2019

According to a report in The Wall Street Journal citing people familiar with the matter, Francis Racioppi, head of global security at Snap, was fired at the end of 2018 after law firm Gibson, Dunn & Crutcher found via an investigation that he had a relationship with a woman he hired and then ended the contract once the relationship ended.

Leadership 134

Leadership Resources Report Company 134

PYMNTS

DECEMBER 28, 2018

With FinTechs offering clients a range of easy-to-use, sophisticated products, banks in 2018 were pressured to react to small businesses’ demand for advisory services — not just data, and not just digital platforms. Bank technology provider nCino has kept this challenge in mind throughout 2018. percent drop in the number of U.S.

Fintech 177

Fintech Customer Experience Tools Technology 177

PYMNTS

JUNE 5, 2019

Bloomberg reports that a slew of regulators and investigators are looking into QuadrigaCX’s shuttering of operations earlier this year. Those investigators join the Ontario Securities Commission, which said in February that it was looking into “potential harm to Ontario investors.”.

District of Columbia 128

District of Columbia Bitcoin United States Resources 128

PYMNTS

DECEMBER 11, 2018

But according to Protiviti, the c-suite corporate leaders are most concerned about the ability of their firms to compete against those born-digital organizations, with this risk rising from number 10 in 2018’s report to number 1 in the 2019 survey.

North Carolina 163

North Carolina Survey America Big Data 163

PYMNTS

NOVEMBER 5, 2019

Digital identities are gaining popularity across industries as businesses, services and other operations increasingly move online. Increased technology adoption brings along additional security concerns, however. billion in Q2 2018 to $1.02 Victims are often completely unaware when their digital identity has been compromised.

Data 101

Data Fraud Security Trends 101

Independent Banker

OCTOBER 1, 2022

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. Data privacy and security is a hot topic and is only getting hotter. By Katie Kuehner-Hebert. Bob Hickok.

Data 91

Data How To Community Bank California 91

Abrigo

JUNE 16, 2016

Visit ALLL.com for CECL resources and more information especially geared toward financial institutions. For a quick list of resources, access the CECL Prep Kit , a toolkit that aggregates industry resources to help prepare for the accounting change. They all have finance operations. 15, 2018.

Resources 150

Resources Exercises Lending Community 150

Abrigo

OCTOBER 22, 2019

With prominent victims such as British Airways, Ticketmaster, and Newegg, among others, this type of attack became known as “Magecart” and gained notoriety within information security circles and beyond. to a secure payment page hosted by a payment service provider or IFrame). October 2018. Minimum 5 orders / day. February 2019.

Fraud 150

Fraud Cards Data Payments 150

PYMNTS

AUGUST 3, 2018

That kind of growth is slated to continue, with researchers predicting that by 2023, the volume of mPOS transactions will increase threefold over an estimated 28 billion in 2018. Payment software solution provider Alcinéo is one player putting a new focus on improving mPOS security. Around the mPOS World. About the Tracker.

Trends 105

Trends Massachusetts United States Boston 105

PYMNTS

MARCH 9, 2020

Payment scheme providers must consider how to encourage adoption, especially if operating in countries lacking a government mandate for financial institutions (FIs) to sign on. The federal government deliberated in 2018 and 2019 over developing its own real-time payment system, FedNow , to compete with RTP.

Strategy 202

Strategy System Payments Resources 202

BankUnderground

NOVEMBER 30, 2021

In our paper , we use balance sheet data for 118 UK banks to empirically investigate whether the asset compositions of banks involved in the UK QE operations reacted differently in comparison to banks not involved in the initial rounds of QE between March 2009 and July 2012. QE and central bank reserves. QE and bank lending.

Lending 82

Lending Capital Groups Policies 82

PYMNTS

JUNE 13, 2019

Fighting bad actors is particularly challenging for those in the banking industry, which lost more than $31 billion to fraud in 2018 and is projected to lose even more as cybercriminals become more sophisticated. The bank implemented a data-based fraud detection initiative in 2018 to help combat this problem with false positives.

Fraud 128

Fraud Analytics New Jersey Data 128

PYMNTS

JULY 26, 2017

And while that is a big goal, Taneja said that it’s all in a day’s work for the global card network that has operations in 200 countries, billions of cards issued across more than 16,000 banks, trillions of dollars in payments processed annually and a processing network — VisaNet — capable of securely processing 65,000 messages per second.

Data 102

Data Security Cards Regional 102

PYMNTS

JULY 21, 2020

These solutions thus offer similar support as those pitched to FIs within the EU, which have been searching for easier ways to share online data since open banking’ implementation in 2018. Prometeo’s product will be available in nine Latin American countries with the addition of Brazil and Panama. About The Tracker.

Mobile 229

Mobile Report America Regulation 229

PYMNTS

MAY 6, 2020

trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. Bad actors are constantly working to find online systems’ loopholes or weaknesses — a growing problem as such platforms enhance their operations to provide legitimate customers with more seamless experiences.

Data 181

Data Fraud Tools Technology 181

PYMNTS

APRIL 30, 2020

Online transactions are more important than ever amid the coronavirus pandemic, which has consumers following stay-at-home directives and merchants shifting commerce online after temporarily closing their in-person operations. Sellers need to understand each market’s local payment preferences to effectively reach them.

Payments 131

Payments Cards Online Resources 131

PYMNTS

NOVEMBER 11, 2019

Such insights can also help firms improve customers’ experiences and lower operational costs. . Using human employees to assess each transaction for potential fraud can drain funds and deplete resources, leading most modern companies to rely on digital tools to power large-scale, anti-fraud initiatives.

Analytics 116

Analytics Data Fraud Tools 116

PYMNTS

FEBRUARY 3, 2020

This prospective growth can largely be attributed to the Monetary Authority of Singapore (MAS), the region’s main regulator, which announced in June 2018 that it would grant five digital banking licenses to third-party companies. APIs are critical, as they enable further digital banking connectivity.

Digital Banking 185

Digital Banking Innovation Maine Regulation 185

FICO

AUGUST 22, 2018

Again, I’ll draw on the session Cyber Risk, Cyber Ratings and Cyber Risk Transfer at the recent FICO World 2018 conference , and the conversation with my three panellists: Josh Ladeau , CISSP, Global Head of Cyber, Aspen Insurance. Sasha Romanosky , Policy Researcher, RAND Corporation. If you don’t already, follow me on Twitter @dougoclare.

How To 53

How To Michigan System Resources 53

PYMNTS

FEBRUARY 11, 2019

Yet not all retailers have the same resources, as companies with less than $250,000 in earnings might not have an easy time paying for new innovations or finding talent. And many retailers are heeding the call: According to the PYMNTS Retail Innovation Readiness Index , 60 percent of health and beauty merchants are focusing on innovation.

Innovation 166

Innovation Retail social media Apple 166

NCR

DECEMBER 8, 2017

System architectures, uptime, distributed operation and security are all issues which need to be addressed in cloud migration. Register for our Closer Look at Cloud Computing and What it Means for Payments webinar here.

Payments 40

Payments System Operations Security 40

PYMNTS

DECEMBER 30, 2020

Massachusetts securities regulators recently sued the company , alleging that it exposes investors to “unnecessary trading risks” and prompts inexperienced investors to trade frequently through the “gamification” of stock-market investing. In addition to operating some 1,500 U.S. Bitcoin hit an all-time intraday high of 28,288.84

Marketing 198

Marketing Company Online Management 198

CB Insights

MARCH 8, 2018

Banks in Fintech: what’s ahead in 2018. In this brief, we explain what challenger banks are, dive into the playbooks of notable challenger banks, assess how different regulatory approaches have impacted growth, and highlight trends to watch through 2018. What we’re watching in 2018. First Name. customers since 2014.

Retail 78

Retail Digital Banking Fintech Regulation 78