Fed working group proposes SOFR-based mortgage by 2021

BankThink

The Alternative Reference Rates Committee promotes the adoption of a new Secured Overnight Financing Rate index rate to replace Libor in pricing hybrid adjustable-rate mortgages within the next two years.

Global Mobile Wallet Market Set For Double-Digit Growth Through 2021

PYMNTS

percent from 2017 to 2021, according to research firm Research and Markets. In a press release highlighting the launch of new research, dubbed “Global Mobile Wallet Market 2017–2021,” Research and Markets said the use of 3G and 2G mobile data and broadband around the globe is a big contributor to the growth of the mobile wallet market. Technavio is also forecasting it to grow at a CAGR or more than 35 percent through 2021.

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Fleet Management Market To Grow To $27.9 Billion By 2021

PYMNTS

billion by 2021 at a CAGR of 23.9 The widespread integration of ICT in transportation and logistics is a major technological trend for fleet management , and the needs for increasing operational efficiency and concern for driver security are attracting various industries towards fleet solution management services, the report said. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The fleet management market is estimated to grow from $9.54

Homeland Security: US Travelers Should Be Included In Facial Scans

PYMNTS

The Department of Homeland Security (DHS) wants to update a current law requiring non-U.S. The department has a deadline of 2021 to provide the 20 largest airports in the U.S. Biometrics biometrics facial recognition Homeland Security News privacy travel What's Hot

Mastercard Taps Security Expert To Head Up Cybersecurity Solutions

PYMNTS

In a press release , the payment company said Hunt’s role will increase Mastercard security capabilities for its credit cardholders, customers, merchant and other stakeholders. According to Mastercard , cybercrime is forecasted to double over the next five years reaching $6 trillion by 2021. The digital security ecosystem is only as strong as its weakest link,” said Ajay Bhalla, global enterprise risk and security officer at Mastercard, announcing the appointment of Hunt. “We

Highspot Secures $60M In Funding Round Led By ICONIQ Capital

PYMNTS

Sales enablement platform Highspot announced it has secured $60 million in Series D funding. It has been predicted that by 2021, 15 percent of all sales technology investments will be applied to sales enablement technology, an increase from 7.2

Losing Libor will be messy

BankThink

The banking industry isn’t prepared to transition away from a key financial benchmark in 2021, and steps need to be taken now to avoid market disruptions. LIBOR SOFR Interest rates Securities

The secret to reeling in cybersecurity talent at three big banks

BankThink

million cybersecurity jobs will go unfilled by 2021. Cyber security Bank technology Recruiting Wells Fargo USAA U.S. One estimate says 3.5 Banks are looking to military veterans, universities and even high schools to help fill the gap.

The Ongoing Game Of Innovation Whack-a-Mole 

PYMNTS

SMBs find it hard to secure funds and keep them flowing. by 2021. Today In Data Commerce fraud Hackers Innovation News payments Security SMBs Today in Data

Criticism Prompts DHS To Abort Facial Recognition Of US Citizens

PYMNTS

The Department of Homeland Security (DHS) has reversed its plans for mandatory facial recognition scans of Americans arriving and departing the country, TechCrunch reported on Thursday (Dec. The department has a deadline of 2021 to provide the 20 largest airports in the U.S.

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Apple Tests In-Screen Fingerprint Tech

PYMNTS

While the technology is in testing among Apple’s overseas suppliers and inside Apple, its release may fall to the 2021 revamp, Bloomberg reported, citing unnamed sources. Apple biometrics Face ID in-screen fingerprint iPhone News Retail Security Touch ID What's Hot

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Samsung Galaxy S10 Fingerprint Sensor Tricked By 3D Printer

PYMNTS

Although the report may raise security concerns, the use of fingerprint scanning technology to validate users is expected to explode this year. The analyst predicts Samsung will adopt the technology with an update for the Galaxy S10 slated for the first quarter of 2021.

DHS Says US Citizens Should Be Included In Facial Scans

PYMNTS

The Department of Homeland Security (DHS) wants to update a current law requiring non-U.S. The department has a deadline of 2021 to provide the 20 largest airports in the U.S. Biometrics biometrics facial recognition Homeland Security News privacy travel What's Hotcitizens to be subject to facial recognition scans while entering and leaving the country to include U.S. citizens, according to a report by TechCrunch.

Facebook Admits To Uploading 1.5M User Contacts

PYMNTS

percent by 2021. Security & Fraud breach email contacts Facebook News privacy Security social media What's HotSocial media giant Facebook has admitted that it might have “unintentionally uploaded” the email contacts of 1.5

Removing friction and fraud from P2P payments

Insights on Business

A balance is required between adequate reliability and security without impacting the customer experience. American Banker recently predicted that the total dollar volume is expected to triple by 2021, topping $336 billion. Investing in security a necessity.

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Delivering differentiated business value with intelligent routing of payments

Insights on Business

billion in 2021 from just USD 250 million in 2016. These decisions also span across enhanced security for mobile and on-premises, off-premises and hybrid cloud deployments. Innovative payment options today are driving competition and rapid changes in the payments industry.

Deep Dive: Digital ID Developments From Around The World

PYMNTS

billion people worldwide will carry digital IDs with embedded biometrics by 2021. Even though biometrics offer notable security advantages, they do come with risks. These added security measures make it difficult to complete fraudulent transactions with them. .

TRENDING: Why Grocery Stores Want Autonomous Vehicle Delivery

PYMNTS

In the November Intelligence of Things Tracker , PYMNTS examines the forces pushing IoT adoption forward, the security risks holding it back, and how public and private sectors seek to strike the right balance.

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Keeping Friction-Free From Being A Fraudster’s Best Friend

PYMNTS

What you get there is a replication of a frictionless journey that is happening in a much less secure way.”. And at Boku, we know we are sitting on better solutions that provide more security and are much less friction-intensive.

Deep Dive: Fighting Fraud With AI And Machine Learning

PYMNTS

Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions. PYMNTS explores the world of cybercrime in this inaugural Digital Fraud Tracker , including how fraudsters target their victims and the ways security providers are working to stop them. .

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Visa, AI And The $25B Fraudsters Never Got

PYMNTS

By some estimates, cybercrime will have cost the world $6 trillion by 2021 in damaged and destroyed data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud and post-attack disruption to the normal course of business. They are constantly testing out network security patterns, and taking a very structured approach to [try] to break through our defenses.

Auditors Say EU Failed To Stop Misuse Of Funds

PYMNTS

In the auditor’s report, they backed the move to create a European Prosecutor’s Office in charge of conducting investigations on spending, which is targeted to open starting in 2021. Security & Fraud AML EU European Commission Fraud Prevention News regulation What's Hot

Trending: The Rise Of Instant Payments In Lending

PYMNTS

Six Nordic banks have teamed up to develop an instant payments solution that will be known as P27, to officially launch in 2021. Instant Loans And The Speed And Security Balancing Act.

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Why Conglomerates Should Stop Blaming SMBs For Cyberattacks

PYMNTS

Earlier this month, analysts at Cybersecurity Ventures predicted global spend on cybersecurity solutions to top and exceed $1 trillion by 2021. When security vulnerabilities are reported, an immediate mitigation process should be launched to ensure data integrity.”

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Staring Down The Sharing Economy’s Big Trust Moment

PYMNTS

million users by 2021, with at least $335 billion being transacted via those products, services and online platforms, according to Jumio. Yet those consumers certainly demand more security, fraud protection and other trust aspects when it comes to the sharing economy.

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Bitcoin Daily: FINMA Grants Licenses To Two New Blockchain Firms; ShortHop Crypto Exchange Launches In Seven New States

PYMNTS

The Swiss Financial Market Supervisory Authority (FINMA) has granted the first “banking and securities licenses” to two blockchain companies: SEBA Crypto AG and Sygnum AG.

Healthcare’s Cure For Ailing Passwords: Biometrics

PYMNTS

The average North American consumer is projected to have access to 13 networked devices by 2021, while the typical global user will have access to four. Federal law will mandate healthcare providers to use EPCS by 2021.

MoneyGram To Settle With FTC For $125M

PYMNTS

Against this backdrop, the FTC said MoneyGram is paying the $125 million, and that a deferred prosecution agreement with the Department of Justice (DOJ) has been extended to May 2021. The Federal Trade Commission (FTC) said on Thursday (Nov.

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In Switzerland, Regulators Eye Payments Over Blockchain

PYMNTS

Securities Exchange and DLT. In blockchain-related news stemming from Australia , the Australian Securities Exchange (ASX) has said it has teamed with two other companies. CoinDesk reported that the exchange has targeted the DLT platform to be in place and operational by spring of 2021.

Latest CECL FAQs

Abrigo

PBE that is NOT an SEC filer: December 15, 2020: Similarly, for institutions that have a calendar year fiscal year, the standard is effective January 1, 2021, and the new standard should be applied in financial statements and regulatory reports for the quarter ended March 31, 2021.

Morgan Stanley Sees Potential In Instagram eCommerce Future, Raises Facebook Target

PYMNTS

Nowak thinks the eCommerce strategy Facebook wants to get going on Instagram advertisements will add $4 billion of revenue in 2021. “We Ross Sandler, a Barclays analyst, said Facebook Coin revenue could reach $21 billion by 2021. Security firm UpGuard posted about the news on April 3.

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China’s Byton Gets License To Launch Electric SUV In US

PYMNTS

18) that it has secured a distributor license from California, bringing it one step closer to bringing its first electric SUV, Byton M-Byte, to the United States. and the European Union in 2021, according to Reuters. Chinese startup Byton announced Monday (Nov.

Internet Of Things Identity Access Management Mkt Set To Grow

PYMNTS

billion by 2021. percent from 2016 to 2021. The market growth could be hurt if there isn’t an increase in security , expertise and awareness. According to Research and Markets, among the areas of the IoT IAM market expected to see the most growth is the authentication segment, which is projected to have the highest CAGR from 2016 to 2021.

Google Pay Is Coming To eBay

PYMNTS

eBay says it expects to manage the majority of payments on its platform by 2021. Google Pay provides users with a fast, simple and secure way to pay online,” said Alyssa Cutright, vice president of global payments, billing and risk at eBay.

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Online Purchases Rule The UK Commerce Arena

PYMNTS

According to the Retail Banking Research (RBR) firm’s Global Payments Cards and Data Forecasts to 2021 research, this number is expected to double internationally to reach $6 trillion by 2021. The study outlines several contributing factors driving this surge in eCommerce transaction popularity, including the rise in consumer confidence in online security measures. “The improving convenience and security of the eCommerce channel are key drivers of this growth.”

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The Blockchain Comeback: How Institutions Effectively Use Digital Assets

Bussman Advisory

Security tokens are at the core of the rebound and three major disruptions are accelerating the redefinition of financial markets: The digitization of existing assets. Furthermore, there is no standard for security tokens. This blog post first appeared in Forbes.

Vietnam’s Social App Lotus Seeks Funds To Compete With Facebook

PYMNTS

Developed by media group VCCorp, Lotus has already secured an initial investment of 700 billion dong ($30.4 It aims to reach 3 million users in 2019 and 20 million by January 2021. Vietnam ’s new social network platform, Lotus, is looking to raise as much as 1.2 trillion dong ($52.1

Cybersecurity Turns To Crowdsourcing Amid Hiring Woes

PYMNTS

That shortage served as the foundation of a recent PYMNTS discussion with Jay Kaplan, CEO and co-founder at Synack , which bills itself as a crowdsourced penetration platform, a company that finds online security vulnerabilities for its clients.

Today In Data: Innovative Solutions In Search Of Problems

PYMNTS

Consumers don’t always just need solutions, even in high-interest areas like privacy, security and flexibility – sometimes they also need a clearer picture of the problem they are solving. 14 percent: Share of global retail sales expected to be powered by online payments by 2021.

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Reliance To Invest $42M For 87.6 Pct. Stake In Fynd

PYMNTS

Fynd will continue to operate its existing business with the option to secure an additional 1 billion India rupees ($14 million) by the end of 2021 from Reliance Industries. Indian company Reliance Industries revealed that is acquiring a 87.6 percent stake in Fynd for 2.95

Blockchain Tracker: The Auto Industry Revs Its Blockchain Engine

PYMNTS

Research and Market’s Blockchain Market – Global Forecast to 2021 predicts blockchain’s Compound Annual Growth Rate (CAGR) will grow a whopping 61.5 For one, there are privacy and security concerns that require vigilance — car hacking has the potential to become a problem if automakers do not effectively safeguard against it. As such, there’s a need to secure the data and technology within cars of today and the future.

CFPB publishes blog on LIBOR elimination

CFPB Monitor

The CFPB recently published a blog post to advise consumers that LIBOR is expected be eliminated sometime after 2021 and that the change will effect some adjustable-rate loans and lines of credit.

SWIFT Working Group To Create ISO 20022 Standard

PYMNTS

SWIFT said the guidelines laid out by the working group will enable the successful migration of cross-border payments traffic to ISO 20022, kicking off in November of 2021.

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