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Theranos Lays Off Most Of Its Workforce

PYMNTS

The move comes as CEO Elizabeth Holmes agreed to settle with the Securities and Exchange Commission (SEC) over “massive fraud” charges lodged against the company. However, the reality, according to the SEC, was that the company’s blood analyzer technology could only do a small number of tests.

Fraud 100
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Why banks can no longer settle for ‘minimum security requirements’

NCR

If minimum security requirements are what financial institutions are aiming for, we as an industry are doing it wrong. The security of our customers’ private information and cash should be our greatest focus. As a result, we need to do much better at what the industry calls its minimum security requirement. So what do we do?

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B2B SaaS Dominates Newest Y Combinator Class

PYMNTS

Of the 132 startups that launched at Y Combinator’s two-day pitching event, Demo Day, 30 percent are B2B software firms — more than any other vertical. Anti-fraud software Berbix also pitched, as did Dataform, a data management company targeting the pharmaceutical space. Healthcare startups followed at 28 percent of the pitches.

Software 101
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Don’t miss these IBM sessions at Money20/20

Insights on Business

We’ll discuss the right platforms to handle payment volumes, putting APIs in place and preventing fraud in payments and more. See how banks drive payment innovation by combining IoT, real-time payment processing and robust fraud prevention. Includes a live demo of voice-initiated commerce. The future of payment fraud prevention.

Fraud 117
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SIFMA Fintech Conference 2018

Insights on Business

Some important financial technologies are changing the way the world is doing business and that change is now reaching the securities industry. At the SIFMA Fintech Conference this week these powerful technologies will be on display in the Big Apple. IBM keynote.

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Passwords Suck – Bring on Biometrics!

Celent Banking

At a conference in 2015, a small start-up, @Pay , a low-friction mobile giving platform, offered attendees a free t-shirt in return for seeing a brief demo. I must confess that I was more interested in the t-shirt than @Pay’s product demo. At ATMs – it contributes to skimming fraud. The line went out the door!

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nanopay: The Global Middleman For Payments

PYMNTS

Toronto-based technology startup nanopay aims to make the whole process easier — and more secure. As corresponding banking shrinks, said Cooke, direct point-to-point communications require multiple hops, and that can lead to more fraud, more mistakes and more mouths to feed along the way.

Payments 101