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Today In Payments: Mastercard’s Cyber Secure Helps Fight Cyber Fraud; Amazon Focuses On Fulfillment After Record Quarter

PYMNTS

In today’s top news, Mastercard reveals its AI tool Cyber Secure to help banks fight cyber breaches, and Amazon reported record-setting earnings. Mastercard’s Cyber Secure Uses AI to Help Banks Fight Cyber Fraud. FIS President: B2B Payments Transformation Needs Strong Value Proposition.

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Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Mandated training of security will be required. The attack began in 2007 and crossed 17 different countries.

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4 considerations for banking leaders concerned about cyber security

NCR

While the ISO reports to the board on all cybersecurity, the degree to which this person is engaged across all banking functions can make a significant difference preventing digital fraud. In many cases, the opportunity to stop fraud begins with the customer. Customer Responsibility.

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FedNow fraud is coming … and banks aren't ready

American Banker

Banks have a simple choice: Either invest in fraud controls to prepare for FedNow, or expect draconian supervisory measures that will increase friction and confuse customers.

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Cybercrime is digital banking's greatest threat, bankers say

American Banker

About 90% of surveyed bankers said cybersecurity was their biggest worry, ahead of legacy tech and talent shortage issues.

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Ready for Money20/20? What about Real-time Payments?

Insights on Business

I predict that two of the hot topics at Money20/20 will be the availability of immediate or real-time payments and cyber security. These technical and business challenges relate to the current legacy banking infrastructure moving from a batch oriented daily process to the need to support 24X7 real-time processing.

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The top 4 trends banks can’t ignore in 2019

Cisco

While banks work to build the right customer experience across channels, emerging technologies like voice-first banking and intelligent chat bots gain footing. It’s clear intelligent assistants will begin to play a significant role in consumer digital banking transactions. Cyber security is more than just “top of mind.”

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