Banks, fintechs must reframe data privacy debate

Payments Source

Financial firms could lose access to data that’s critical to their businesses if Congress passes a privacy bill. To change lawmakers’ minds, they need to show how data in the right hands has the power to improve customers’ lives. Fintech Data privacy Consumer banking

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EU Ruling Limits Personal Data Transfer To The US

PYMNTS

The top court of the 28-nation bloc ruled the transfer of personal data to platforms in the U.S. The decision on Thursday (July 16) ends a data transfer agreement between the EU and the U.S. Tech advocates have said the court’s ruling to prohibit data transfers to the U.S.

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Credit union leverages data to launch pandemic products

Bank Innovation

Sound Credit Union is leveraging the data of its members to understand how their banking behaviors and needs are shifting during the pandemic, and which financial tools to prioritize to better meet those needs. “We

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AI, machine learning, data and Nordic banks

Chris Skinner

The meeting focused upon data: data usage, data analytics, data leverage and data privacy. It was an interesting meet-up … The post AI, machine learning, data and Nordic banks appeared first on Chris Skinner's blog.

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Why B2B Contact and Account Data Management Is Critical to Your ROI

64% of successful data-driven marketers say improving data quality is the most challenging obstacle to achieving success. Given data’s direct impact on marketing campaigns, reporting, and sales follow up, maintaining an accurate and consistent database is a top priority for B2B organizations. This latest eBook aims to help marketing leaders understand the impact of data management on their company’s ROI.

Sustainable finance starts with data and technology

Accenture

At present, the lack of disclosure of environmental, social and governance (ESG) data by many corporations creates asymmetric information. The post Sustainable finance starts with data and technology appeared first on Accenture Banking Blog. Uncategorized Big Data Sustainability

India’s Proposed Data Rules Prompt US Tech Pushback

PYMNTS

A plan by India to regulate what it terms “non-personal” data has roiled the executives of Big Tech companies like Amazon , Facebook and Google and advocates for freedom and competition in business, Reuters reported. Data Big Tech data data sharing india News What's Hot

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The growth of data in banking is unstoppable

Accenture

Accessing this source of Big Data is simply the latest way for banks to deliver on their core promise: to listen to customers, create a…. The post The growth of data in banking is unstoppable appeared first on Accenture Banking Blog. Uncategorized Big Data Data-driven Banking Open DataBanks occupy a privileged and trusted position. Social media companies may have insight into what is attracting our attention, but banks can see what people are willing to pay for.

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Telegram: Breach Exposed Millions Of Users’ Data

PYMNTS

Messaging app Telegram said a data breach has exposed a database containing the personal information of millions of users, according to a Cointelgraph report. Data breaches have not slowed during the pandemic.

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Finastra to help clients improve customer data management

Bank Innovation

Banking technology company Finastra is enhancing the rollout of its customer data strategy as clients face new competition. As part of this effort, the London-based company hired Lisa Fiondella as its first-ever chief data officer in November.

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ABCs of Data Normalization for B2B Marketers

Data normalization. It’s not a far stretch to suggest that the topic isn’t exactly what gets marketers excited in their day-to-day workflow. However, if lead generation, reporting, and measuring ROI is important to your marketing team, then data normalization matters - a lot. In this eBook, we’ll break down the ins and outs of data normalization and review why it’s so critical for your marketing strategies and goals!

How open data can help in the post-pandemic era

Accenture

As I illustrated in my last post, there are already plenty of examples of open data innovations being used to help with the unprecedented disruption and uncertainty that the COVID-19 crisis has caused. The question now is: What’s next for Open Banking and open data more broadly?

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Industry consortium on financial data sharing adds 25 new members

Bank Innovation

The Financial Data Exchange, an nonprofit industry consortium dedicated to unifying the financial industry around a common standard for secure and convenient consumer and business access to financial data, this week confirmed that it had added 25 new members in the second half of 2019.

US Retailers Confront Data Privacy Shifts

PYMNTS

Collecting and sharing data is a critical part of business today — especially during this period where most work and payments are being conducted online — and that means regulators have tough choices to make when determining what banks, businesses or even consumers have access to data and why.

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3 Fintech Data Analytics Startups to Watch

Bank Innovation

Financial institutions harnessing the power of big data must glean meaningful insights from many disparate data sets. Several startups helping banks and financial institutions make sense of data, alternative and otherwise, have emerged.

The 2019 Technographic Data Report for B2B Sales Organizations

In this report, ZoomInfo substantiates the assertion that technographic data is a vital resource for sales teams. In fact, the majority of respondents agree—with 72.3% reporting that technographic data is either somewhat important or very important to their organization. The reason for this is simple—sales teams value technographic data because it makes essential selling activities easier and more efficient.

Behind Mastercard’s approach to data security and privacy

Bank Innovation

Mastercard has unveiled a series of principles that underline its approach to data security and privacy. In a report about global data responsibility, the payments company outlined six guiding principles that companies can abide by when protecting their customers’ data.

FinTech Dave Reports Data Breach Involving 7.5M Users

PYMNTS

The FinTech on Saturday (July 25) confirmed the data breach after reports emerged that details involving as many as 7.5 million banking users had been exposed on a forum used by hackers to sell and swap ill-gotten data.

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NJ Legislators Propose Tighter Data Privacy Regulations

PYMNTS

Lawmakers in New Jersey are proposing a bill to solidify data privacy guidelines and inflict tougher limits on the tech industry, The Wall Street Journal reported on Monday (March 2). New Jersey joins Washington, Illinois and other states and regions in introducing data privacy laws.

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How Fifth Third creates a data-driven CX

Bank Innovation

Melissa Stevens, chief digital officer of the 160-year-old Fifth Third Bank, is using data to advance the bank’s innovation and customer service strategy, one that hinges on being a relationship-based bank.

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How ZoomInfo Enhances Your ABM Strategy

For marketing teams to develop a successful account-based marketing strategy, they need to ensure good data is housed within its Customer Relationship Management (CRM) software. More specifically, updated data can help organizations outline key accounts for their campaigns. And to begin the targeting process, marketing teams must develop an Ideal Customer Profile (ICP) with appropriate firmographic and behavioral data to ensure they’re going after the correct audience.Download this eBook to learn how to start improving your marketing team's data!

Protecting data 'at rest' isn't protecting data

Payments Source

Data protection strategies need to consider how data travels and how that impacts vulnerabilities and breach risk, according to comforte AG's Jonathan Deveaux. ISO and agent Data breaches Payment fraud Security risk

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Bankers and aggregators disagree on data-sharing approaches

Bank Innovation

While data aggregators and bankers participating in the forum agreed on the principle that consumers should have the right […].

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Data Breach Leaks 198M Car Buyers’ Personal Data

PYMNTS

A massive data breach has compromised the records of 198 million car buyers. Fowler said that it was “unclear if DealerLeads has notified individuals, dealerships or authorities about the data incident,” and as a result “potential customers may not know if their data was exposed.”.

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It’s all about the data

Chris Skinner

I’m guessing most of you will have … The post It’s all about the data appeared first on Chris Skinner's blog. As those who read my blog will know by now I chair a very active group called Nordic Finance Innovation (NFI), based out of Oslo.

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Data-Driven Marketing 101

This eBook highlights how data-driven strategies empower marketing campaigns through personalization tactics.

The future of banking is about data-driven experiences and not products: HSBC

Bank Innovation

Instead, it will offer embedded “experiences” based on data the institution has on its customers, according to a report released by HSBC this month. The bank of the future will cease to be about specific products and services.

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Remote work heightens risk of data breach

Bank Innovation

Carousel Corporate Banking Exclusive Innovation Strategy Lending Premium Retail Banking Security & Risk Aite Group cybersecurity data breach Procircular remote work Security security risk two-factor authentication VPNAs financial institutions transition employees to working remotely during the coronavirus pandemic, cybersecurity threats have made them more vulnerable, according to information and cybersecurity experts.

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Who owns the customers’ data?

Chris Skinner

Following on from the discussions about identity on Monday, it gets interesting to think about the customers’ data and who owns it, especially in light of the Payment Services Directive 2, PSD2 for short, which comes into force at the start of next year.

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Merchants Solving For Data Compliance

PYMNTS

And it’s a double-whammy for firms, including small and medium-sized businesses (SMBs), as they are very much on the hook for data security. Driven by COVID-19 fears and stampeding online, consumers overwhelmed many businesses in 2020 that were unprepared for drastic, sudden eCommerce volume.

Best Practices for a Marketing Database Cleanse

As frustrating as contact and account data management can be, this is still your database – a massive asset to your organization, even if it is rife with holes and inaccurate information. Entrusting a vendor to help maintain its accuracy and completeness is no ordinary engagement. Download ZoomInfo’s latest data-driven eBook aimed to help marketing leaders understand the best practices around choosing a B2B contact data provider.

Decentralisation demands data safes

Chris Skinner

In fact, in HBO’s excellent series Silicon Valley, the guys at Pied Piper recently did a pivot to try to create exactly … The post Decentralisation demands data safes appeared first on Chris Skinner's blog.

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CRE Loan Delinquency Data

Banker to Banker

While it is too soon to get the data on bank commercial real estate (CRE) portfolio delinquencies and forbearances, we take our benchmarks from the commercial mortgage-backed securities market as of May 14 th.

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Fintech task force deliberates pros and cons of ‘big data’

Bank Innovation

quintillion bytes of data are created every single day. As such, lenders are collecting vast amounts of consumer information and calling it “big data,” a key product to generate insights, support decision making, and enable automation. More than 2.5

Equifax Buys Commercial Credit Data Company Ansonia

PYMNTS

Equifax , the Atlanta-based financial technology company, has purchased Ansonia Credit Data , a commercial credit data firm. trillion in accounts receivable data from industries in North America.

The Time-Saving Power of Intent Data for Sales

By using the power of intent data, capturing buyer interest has become more feasible for sales. Not only that, but using it will save immense time during your workflow; a win-win on all fronts.