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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JPMorgan: Using Transaction Data To Help Merchants Optimize Cash Flow

PYMNTS

As merchants accelerate their digitization roadmaps, the volume of data they’re able to work with increases. said Wimmer, who oversees the data and analytics efforts of firm’s payments-focused businesses. The Nine Levers Of Data Optimization.

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A how-to guide for monetizing Open Banking and CDR data

Accenture

In our last post, we shared the two emerging business models that are powered by Open Banking application programming interfaces (APIs) and open data—banking as a platform and banking as a service. Uncategorized APIs CDR Open Banking Open Data

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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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5 Things a Data Scientist Can Do to Stay Current

DataRobot together with Snowflake – a leading cloud data platform provider — is helping data scientists stay current with the latest technology and data science best practices so that they can excel in an increasingly AI-driven workplace. Five Things a Data Scientist Can Do to Stay Current offers data scientists guidance for thriving in AI-driven enterprises.

Instacart Denies Reported Data Breach Affecting 280K Users

PYMNTS

Hundreds of thousands of Instacart customers are having their personal data sold on the dark web, including the last four digits of their credit cards, and the data could include people who used the popular delivery app as recently as this week, according to a BuzzFeed News report.

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Open Banking and CDR data—learn from the leaders to drive growth

Accenture

For leading incumbent banks, Open Banking or, as it is enacted in Australia, the Consumer Data Right (CDR), is not just a regulatory imperative. The post Open Banking and CDR data—learn from the leaders to drive growth appeared first on Accenture Banking Blog.

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Poland country data-sheet

Mobile Payments Today

Country data-sheet: mobile payments in Poland

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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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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 Carousel Credit Unions Exclusive Lending Premium Product Design Retail Banking Coronavirus data reporting data structure Information Builders Inc pandemic Sound Credit Unioin

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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.

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. Her mandate is to help client banks and institutions use customer data more effectively, allowing them to build […].

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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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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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Shopify: 2 Employees Took Consumer Data From Merchant Sites

PYMNTS

Two Shopify employees stole data from over 100 merchants, possibly exposing data from consumers who shopped on web stores using the company's eCommerce software, according to the company, Bloomberg reported.

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Data Science Fails: Building AI You Can Trust

The new DataRobot whitepaper, Data Science Fails: Building AI You Can Trust, outlines eight important lessons that organizations must understand to follow best data science practices and ensure that AI is being implemented successfully.

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. Compliance Exclusive Innovations Insurance Open Fintech Risk Startups 3 Startups to Watch AI data analytics machine learning

How Wix Fights The Money Laundering Threat With Data Analytics

PYMNTS

So, it's a 360-degree overview from both the buyer perspective and the merchant perspective, and with all the data points that we're collecting, we could really pinpoint the [merchants] that should be expelled from the platform.”. We use our 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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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. Telegram reportedly said much of the leaked data ended up being outdated, with 84 percent of it being collected before mid-2019 and around 60 percent of it being inaccurate. Data breaches have not slowed during the pandemic. Security & Fraud Data Breach News security & fraud Telegram What's Hot

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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!

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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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. Companies will have to choose between whether to move personal data to servers in Europe or stop doing business in the region. Tech advocates have said the court’s ruling to prohibit data transfers to the U.S.

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Qdoba On Curbing Chargeback Fraud With Data Analytics

PYMNTS

Fast food behemoth McDonald’s began investing in artificial intelligence (AI) to give customers unique deals while also obtaining vital data about their ordering habits. Deep Dive: How QSRs Are Deploying Data Analytics and AI to Serve Customers, Fight Fraud.

Deep Dive: The Power Of Data Analytics And AI For QSRs In A Complex Ordering Environment

PYMNTS

Harnessing consumers’ digital information is critical to the success of any business, and data analytics and artificial intelligence (AI) can be especially powerful tools.

How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.

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 SustainabilityResearch from Accenture, Hermes and non-profit disclosure advocate CDP identified environmental risks with a combined potential impact of $699bn.

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.

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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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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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.

Facebook Threatens EU Pullout As Data Sharing Comes Under Scrutiny

PYMNTS

Yvonne Cunnane , Facebook Ireland’s head of data protection and associate general counsel, has informed Ireland’s Data Protection Commission of dire consequences should the regulator uphold a ruling that restricts the transfer of data between Europe and the U.S.,

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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. Artificial Intelligence Carousel Corporate Banking Customer Experience Innovation Strategy Open Banking customer data data Mastercard Security

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. In the latest Merchants Guide to Navigating Global Payments Regulations , PYMNTS examines the latest data privacy and online banking regulations taking shape in the United States.

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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. Our last meetings were a great success and NFI rapporteur Danielle Pamela Neben did a great write-up afterwards.

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How Banks Are Winning with AI and Automated Machine Learning

Banks have always relied on predictions to make their decisions. Estimating the risks or rewards of making a particular loan, for example, has traditionally fallen under the purview of bankers with deep knowledge of the industry and extensive expertise. But times are changing. Today, banks realize that data science can significantly speed up these decisions with accurate and targeted predictive analytics. By leveraging the power of automated machine learning, banks have the potential to make data-driven decisions for products, services, and operations. Read the white paper, How Banks Are Winning with AI and Automated Machine Learning, to find out more about how banks are tackling their biggest data science challenges.