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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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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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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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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Unencrypted Vistaprint Database Exposed Personal Customer Data

PYMNTS

At this time, we do not know whether this data has been accessed beyond the security researcher who found it.”. Other information included order numbers and postal tracking data. Security & Fraud customer data Data Breach database encryption News Security Vistaprint What's Hot

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Can Banks Safely Monetize Consumer Data?

PYMNTS

It’s one of the main clichés of the early 21 st century, but that doesn’t mean it’s wrong: Data is the new oil. However, as is the case with any powerful, profitable substance (whether tangible or not), data can be dangerous if not used appropriately. The Three Types Of Data.

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Avast Antivirus Program Selling Private Browser Data

PYMNTS

Antivirus program Avast was found to be selling user data to a number of huge companies, including Google, Microsoft and Pepsi. The investigation found user data, contracts and leaked reports, showing that Avast had been selling highly sensitive data that should have remained private.

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Overcoming The Pre-Accounting Hurdle Of Data

PYMNTS

However, other players have warned that, despite the promises of technology, accountants have yet to elevate their positions into a more strategic collaboration with SMBs — manual data entry remains one of the largest burdens, for instance. Data Integration Opportunities.

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SMBs Severely Underestimate Data Breach Costs

PYMNTS

As lawmakers ponder this risk, PYMNTS highlights some of the newest data points uncovered by researchers examining small business cybersecurity. 149,000: the average cost of a data breach for a small-to-medium sized business , according to AppRiver.

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Utility Data’s New Identity

PYMNTS

There are plenty of high-tech ways to verify a customer’s identity — fingerprints, voiceprints, faceprints, phone data. Traditional utility data has been a source of, and a good way to verify, identification,” Malik explained. “It’s Urjanet is a platform meant to bridge that digital divide for consumer utility data by collecting and aggregating it into a secure, digitally shareable form, and turning it loose as a tool for businesses to apply to a variety of consumer interactions.

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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.

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.

For Credit Unions, Data As Competitive Advantage

PYMNTS

Data, data everywhere. For credit unions, data may be the conduit to competing with banks. The best way to get to that personalization – for example, for credit unions to get credit cards to the right consumers with the right rewards offers – is through data analytics.

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Princess Cruises Discloses Possible Data Breach

PYMNTS

Princess Cruises disclosed a potential data breach in a notice posted on its website. The kinds of personal information that could have been impacted by the breach might encompass name, social security number, address or government identification number and data related to health.

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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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New IBM Platform Allows Data Privacy Control

PYMNTS

IBM has unveiled the latest addition to its Z mainframe portfolio, a new platform called the z15 designed with data privacy, security and hybrid multi-cloud use in mind, the company said in a release on Thursday (Sept. Innovation data management IBM News privacy Security What's Hot

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How Opening Bank Data Can Transform SMB Lending

PYMNTS

Open banking’s impact on small- to medium-sized businesses (SMBs) continues to proliferate as traditional financial institutions (FIs) embrace the opportunity to unlock data for third-party platforms. For lenders, unlocking data also means strengthened fraud mitigation.

Nordstrom Breach Exposes Data On 76K Employees

PYMNTS

Nordstrom has suffered a data breach that exposed employee names, Social Security numbers, dates of birth, checking account and routing numbers, salaries and more. The company spokesperson said customer data was not affected in the breach.

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Study Puts Values To Online Data, Privacy

PYMNTS

A study of how consumers in different nations value their personal data found that German users of Facebook would want the company to pay them roughly $8 a month for providing their contact data. to share data on cash withdrawals, and $7.56 to share fingerprint data.

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Today In Data: Digital Banking Cybersecurity

PYMNTS

With new risks come new solutions, and banks are taking this approach to data security: They are adopting technologies such as biometric authentication to protect sensitive information. Data: $248.26

Open Banking Overcomes The Data Obstacle Of Paper

PYMNTS

it’s not entirely clear how deeply the data sharing strategy will proliferate. It’s a delicate balance; in some ways, FinTech firms and banks are competing, but many FinTech firms rely on bank account data to provide the level of service that end users have come to expect.

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T-Mobile Data Breach Puts Personal Data Of 1M+ Customers At Risk

PYMNTS

A recent data breach exposed the personal data of more than 1 million prepaid T-Mobile customers, reports said on Friday (Nov. The information exposed did not include any financial information, social security numbers or password data. Data about rates and features are considered customer proprietary network information (CPNI). In a disclosure to affected customers, T-mobile said there was a data breach affecting prepaid data customers. .

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Today In Data: New Year, New Efficiencies

PYMNTS

Data: $26 billion: Projected 2018 revenue of the global mPOS market. Today In Data brick and mortar checkout Commerce commerce data faster payments mobile pos MPOS New Year News payments payments data Retail retail data Today in Data

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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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Will Consumers Want To Monetize Their Own Data?

PYMNTS

If headlines are any indication, data breaches have made off with consumers’ most sensitive bits of information, such as Social Security numbers, credit card info and bank details. Data Managed. You just need a good set of good data.”

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Facebook Data Breach Fines Could Top $1B

PYMNTS

According to the report citing the Irish Data Protection Commission, Facebook is under investigation by the regulator over allegations it failed to protect the privacy of its users.

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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.

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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Data-R-Us: The Purchase And Sale Of Data

PYMNTS

Where do analysts get their data? It’s not like they can just stroll up to a retailer like Data-R-Us and buy it … can they? It’s called a data marketplace , and it’s not just for analysts. What Is a Data Marketplace? Like any other online marketplace, a data market is a virtual destination where goods and services are bought and sold. Organizations are hungry for data these days. Everybody Loves Data. Know what produces a lot of data?

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Spinning Raw Data Into Synthetic (Revenue) Gold For FIs

PYMNTS

Data is everywhere, there for the taking, turning insight into top-line growth. For financial institutions (FIs) and other FinTech companies, monetizing that data effectively and, above all, safely can be a tightrope walk — balancing risk and reward. The Process And Types Of Data.

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Lion Air Probes Data Breach

PYMNTS

Following incidents at other airlines, Indonesian carrier PT Lion Mentari Airlines, known as Lion Air, is looking into a breach that reportedly led to passenger data on its Thai and Malaysian units to be leaked on the web. its data service provider, to probe the data breach. “We

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Do users care about their data?

Chris Skinner

A further discussion about data and the key issue of who should have access. The advantage of … The post Do users care about their data?

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Mastercard Institutes Criteria For Data Privacy

PYMNTS

Mastercard is introducing a Data Responsibility Imperative to spark a conversation with other companies about data security, Mastercard said in a press release on Oct. The initiative depends on coming up with fundamentals to direct how data is used.

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Home Improvement Startup Houzz Suffers Data Breach

PYMNTS

Home improvement startup Houzz revealed that it suffered a data breach. The company said in a FAQ on its website that the breach was discovered in late December 2018, and that “a file containing some of our user data was obtained by an unauthorized third party.”.

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Today In Data: Payment Protocols In The Age Of PSD2

PYMNTS

The European Union’s (EU’s) PSD2 is making merchants that deal with payment data from Eurozone citizens enhance their payment protocols. All this, Today In Data. Data: $3,500: The average operational cost for a bank to originate an SMB loan.

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