Crowdsourcing Data’s Double Edge

PYMNTS

A growing number of companies are coming to understand how consumers’ granular-level data can lead to a host of revenue-enhancing opportunities, and set a path for customer acquisition and product improvement. How and why to operate in that sweet spot — that potentially lucrative position between ubiquity and the voracious consumption of data — is the subject of the latest edition of the PYMNTS Matchmakers interview series.

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Caring Is Sharing (Data)

PYMNTS

Everyone wants to rule the data world, but — as Gerhard Oosthuizen, CTO at Entersekt , recently pointed out — it’s not just about having the data; it’s about knowing how to use it. consumers concerned with how their data will be used under open banking.

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Macy’s Data Breach Includes Online Card Data

PYMNTS

Another retailer has been hit with a data breach. The data breach impacted one-half of one-percent of customers who were registered on Macys.com or Bloomingdales.com, spokeswoman Blair Rosenberg said Tuesday (July 10), according to Bloomberg. “We While personal data including birthdates may have been accessed, the retailer said that social security numbers were not. Macy’s is just the latest retailer to be hit with a data breach.

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GDPR Becomes Reality, Consumer Data Becomes Global

PYMNTS

As the world knows by now, the European Union’s General Data Protection Regulation (GDPR) took effect on May 25. The mechanics of what firms have to do when it comes to collecting, managing and processing data has been well-publicized. It was a long time coming, but it’s here.

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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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Why Tokenized Data Remains Vulnerable

PYMNTS

However, when it comes to security of those transactions, specifically data security, technology comes up short. Part of that comes because fraud is always evolving, and fraudsters are pushing constantly to find the vulnerabilities in firms’ and consumers’ best efforts to protect data. On its broadest face, tokenization replaces sensitive data with unique identification attributes. All data submitted for tokenization is stored under hardware-based 256-Bit AES encryption.

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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.

Today In Data: Equifax’s Data Breach

PYMNTS

Last week , Equifax disclosed a data breach that could impact 143 million consumers. To make matters worse, news reports from September 12 revealed that three Equifax execs had unloaded stocks before releasing data on the hack. Here are the numbers: 143,000,000 | Consumers potentially impacted by the Equifax data breach. Today In Data data breach Equifax fraud News Security Today in Data

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Exactis Data Breach Sparks Class Action Lawsuit

PYMNTS

The first class action lawsuit against Exactis has been filed in response to the company’s massive data breach that exposed the private information of more than 200 million U.S. The marketing and data aggregation firm was the subject of a data breach in which customer information ended up on the internet for hackers or anyone else to view. Keller is also co-lead counsel in the recent Equifax data breach class action.

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Today In Data: The Many Right Contexts For Commerce

PYMNTS

Today In Data contextual commerce digital commerce digital payments ecommerce Millennials mobile commerce Mobile Payments News Retail Today in DataThe era of contextual commerce is upon us — though what exactly that means can vary.

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Alphabet, Apple Interrogated Over Phone Data Privacy

PYMNTS

House lawmakers want to know how Apple and Google ‘s parent company Alphabet are handling their users’ personal information, including spoken words, email content and location data. In the letter to Alphabet CEO Larry Page, the lawmakers pointed to recent reports that the company’s Android smartphone operating system collects extensive user-location data and reports it back to Google even when location services are disabled.

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Macy’s Online Customers Warned Of Data Breach

PYMNTS

After Macy’s cyber tools detected suspicious logins on June 11, the retailer is warning customers about a data breach. The news comes a few months after Orbitz , a subsidiary of online travel agency Expedia, had announced that it was hit with a data breach in 2016. Retail Cybersecurity data breach fraud hack Macy’s News user data What's HotThe retailer said that a threat targeted the profiles of customers for nearly two months, Detroit Free Press reported.

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Using a big data approach to overcoming banking regulatory requirements

Insights on Business

The data they must analyze is overwhelming. Regulatory pressure is creating a financial data analytics crisis. But the sheer amount of data in all its forms that must be analyzed is a sticking point. Integrating big data technology with risk management for a complete solution.

Verizon, AT&T, Sprint Feel The Heat From Location Data Sharing

PYMNTS

Real-time location data continues to gain a larger role in eCommerce and digital marketing, according to various surveys, case studies and analyst reports. based wireless carriers said this week that they would stop sharing such data to controversial aggregators, concern justifiably emerged about what impact that might have on payments and online retailing. Location Data Firms Take a Hit. Location Data Stakes.

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Financial Services will Invest $9 Billion in Big Data This Year

Bank Innovation

Data is created at every financial transaction, and as datasets expand beyond what a single database can hold, big data is born. DataBank Exclusive Insurance Lending Mobile Open Fintech PFM Premium Sales & Marketing Startups Big Data big data analytics Investment US Bank

Insurers Test Blockchain To Manage Provider Data

PYMNTS

insurance landscape said they’re launching a pilot program that will help boost the management of healthcare provider data. Under the terms of the pilot, blockchain will be used with the hopes of improving data quality while reducing administrative costs focused on healthcare provider demographic data. billion across the continuum of care maintaining that data. The blockchain is making inroads into healthcare.

Triggering (Actionable) Big Data Insight, Always In Motion

PYMNTS

Value-added data in motion? The fresher the data, the faster you can get insight and take action. But analyzing data in motion for faster insight and action is not just limited to payment fraud or account takeover use cases. Poetry in motion? Maybe not.

Acxiom Finds US Consumers Are Open To Sharing Data

PYMNTS

Acxiom , the data foundation geared toward marketers, announced Monday (June 18) that, based on a new report in conjunction with the Data & Marketing Association (DMA), U.S. consumers are becoming more open to engaging in data exchanges in return for better offers and services. In a press release , Acxiom said the joint study dubbed “Data Privacy: What the Consumer Really Thinks” found that 44 percent of consumers in the U.S.

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First Data: Creating The Digital Disbursements Standard

PYMNTS

That’s how First Data ’s GM of Global Debit Solutions, Nandan Sheth , characterized the announcement last week that First Data and Mastercard had partnered so Mastercard business customers who use Mastercard Send could push real-time payments to debit cardholders using First Data’s Disburse-to-Debit solution. “We’ve Sheth said First Data finds the first two opportunities as the most attractive, given the firm’s penetration in those segments. Not exotic.

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Deep Dive: GDRP And The EU’s New Rules Of Data Handling

PYMNTS

lawmakers about how his company can better protect its users’ data following the Cambridge Analytica breach. billion worldwide users — including legislation that would require it to obtain opt-in consent from users to use, share or sell any personal data.

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Data Breaches Are Stressing Americans, Canadians Out

PYMNTS

Kaspersky Lab , the cybersecurity company, revealed in a new survey on Tuesday (May 1) that 81 percent of Americans and 72 percent of Canadians are stressed out about the recent rash of data breaches. With massive data breaches and cyberattacks making headlines nearly every week, consumers are becoming increasingly aware of the cybersecurity risks out there,” said Brian Anderson, VP of Consumer Sales, Kaspersky Lab, North America, in a press release.

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Data Science vs. Data Analytics – Why Does It Matter?

Dataconomy

Data Science, Data Analytics, Data Everywhere Jargon can be downright intimidating and seemingly impenetrable to the uninformed. The post Data Science vs. Data Analytics – Why Does It Matter?

Travel, Capital And Revenue — Today In PYMNTS Data

PYMNTS

They’re helping on-the-go domestic travelers get the food they crave, city dwellers more efficiently park their cars , companies address top technology concerns and business-to-business (B2B) startups secure funding to help them target enterprise data — and the changes are far from over.

GDPR’s Data Breach Notification Requirements Tripping Up Businesses

PYMNTS

is only weeks away from bringing its Global Data Protection Regulation (GDPR) rules into effect, and corporates are ill-prepared for the data security requirements, according to new research. Corporations are bracing for major changes to their operations, and many will miss the May 25 deadline as they struggle to overcome challenges related to key components of the new rules, including data breach notification. businesses is the data breach notification requirement. “In

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New Yahoo Data Breach

PYMNTS

14) that a new cybersecurity breach incident has affected over a billion of its users and their private data. Reportedly, an unauthorized third party stole data associated with the more than 1 billion Yahoo user accounts back in 2013. This billion-user figure means this newest hack is the largest data breach in the digital era. Additionally, Lord wrote that the company hasn’t been able to determine how the data from the 1 billion accounts was stolen.

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Using Better Data To Build Better Results

PYMNTS

Using data more efficiently can solve all kinds of problems. According to Douglas Merrill , founder of ZestFinance , better data combined with machine learning could mean financial inclusion for the tens of millions underserved in the U.S

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Today In Data: We’re (Almost) All Connected

PYMNTS

Today In Data Amazon Commerce connected commerce financial invisibles News Prime Day Retail Today in DataThe world, we are often told, is becoming more tightly intertwined by the day. Connected commerce is our collective future, for both consumers and retailers alike.

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Tracing Supply Chain Payment Delays Back To Data Bottlenecks

PYMNTS

In the age of Big Data, global supply chains quickly flocked to analytics solutions that offered predictability and agility in a market swayed by geopolitical shifts, regulatory risks and even the weather. Initially, the enterprise struggled to be able to collect the data they needed, and to ensure that the data was of a high enough quality to make use of that information. As it turns out, however, companies can pretty easily access rich data.

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Four opportunities for CFOs and big data

Accenture

The big data era is upon us. Financial enterprises are swimming in zettabytes—a billion terabytes—of data. For financial services firms, big data can offer a path to. Managing Risk Featured CFO big data big data to manage risk gary fink big data

First Data: One Year After The IPO

PYMNTS

Last Saturday — October 15, 2016 — was the one-year anniversary of the First Data IPO. Now, admittedly, calling 2016 a “first year” for First Data is something of a stretch. First Data was first incorporated in 1971, so it is actually 45 years young. And it wasn’t even technically First Data’s first year as a publicly traded company either. ” Because, at quick glance, First Data is a very different company than it was just one year ago.

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Adidas Warns Customers Of Data Breach

PYMNTS

Another day, another (possible) data breach: Adidas revealed that it has come under attack from cybercriminals looking to steal personal information. The company said it discovered the problem on Tuesday (June 26), when “an unauthorized party” claimed to have acquired some of its consumer data. The investigation so far has found that the leaked data includes contact information, usernames and encrypted passwords.

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SIFMA Issues Framework For Data Sharing Between Banks And Apps

PYMNTS

The Securities Industry and Financial Markets Association (SIFMA), the trade group for the financial industry, released a framework on Thursday (April 12) to protect the data of consumers when they give third parties the right to access that information. Reuters , citing SIFMA, reported the trade group said that while these third parties, often FinTechs , help consumers make decisions on investments, they also expose consumers to personal data security risks.

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NIS America Hit By Data Breach

PYMNTS

Nippon Ichi Software announced news that its American division, NIS America, was the victim of a major data breach that exposed the personal and financial data of online customers. Data for past orders is stored securely and will only show the last four digits of a credit card and will not show the CVV security code or expiration date,” the company stated.

The Path To Better Management Of Healthcare Data

PYMNTS

Blockchain , cloud computing and other technologies are moving further into the world of healthcare data, promising to change everything from patient management to medical payments. based organization hopes to get ahead of that curve by offering a new accreditation program designed to boost data security and access in the healthcare industry. The launch of TEAP comes amid a time of more focus on the security and interoperability of healthcare data.

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PYMNTS Daily Data Dive: US Data Breaches

PYMNTS

According to a report highlighting findings from the Identity Theft Resource Center and CyberScout, data breaches in the U.S. For the eighth year in a row, hacking, skimming, and phishing were the main drivers of data breaches, representing 55.5 In the first six months of 2016, data breaches rose 15 percent, and the number of compromised data records jumped 31 percent compared to the previous six months. 1,093 | Data breaches tracked by ITRC and CyberScout.

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Today In Data: The Future Of Data Security  

PYMNTS

The Equifax data breach — impacting sensitive and valuable information ranging from Social Security numbers to birth dates and home addresses — affected more than 150 million people and counting, and it’s become clear that the “one-size-fits-all” approach is no longer effective. After all, companies must still look at what data is flowing into and out of their firms. They must still endeavor to keep consumer and cardholder data (and their own corporate data) safe.

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Microsoft’s Underwater Data Centers Could Power Future IoT

PYMNTS

Everyone has heard of storing data in the cloud, but what about in the briny depths? On Wednesday (June 6), Microsoft lowered a submarine-like data center into the ocean off the coast of Orkney — a group of islands near Scotland — as part of its efforts to boost internet speeds in coastal regions and support the world’s growing reliance on connected technologies, for both business and leisure purposes.

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The Data Behind B2B Payments’ API Excitement

PYMNTS

that have encouraged data sharing between banks and FinTechs to regulations in the U.K. That rings especially true in the areas of B2B payments and cross-border payments, which are complex, require the movement of data along with funds, and often involve multiple parties that have to all be on the same page about a transaction. Below, PYMNTS highlights some of the Tracker’s key data points to paint a picture of how APIs are guiding B2B payments evolution.

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First Data Acquires BluePay Holdings

PYMNTS

First Data , a global leader in commerce-enabling technology and solutions, announced news that it has acquired BluePay Holdings. and Canada, BluePay was one of First Data’s largest distribution partners with a strong focus on software-enabled payments and card-not-present transactions. BluePay offers software integration solutions that complement those offered through First Data’s CardConnect business.

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Equifax Gives Congress More Breach Data Information

PYMNTS

Equifax , the embattled credit scoring company that was the subject of a massive data breach last fall, provided several congressional committees in the Senate and House with more information on the data compromised in the breach. In a press release , Equifax said the additional details do not identify additional stolen data or new customers that were impacted, nor do they require more consumer notifications. consumers were impacted by each data element stolen.

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