App security an issue when banks partner with fintechs
Payments Dive
OCTOBER 15, 2019
As banks strive to offer customers good online experiences, they often partner with a variety of fintechs. But how do they ensure that their apps are secure?
This site uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country we will assume you are from the United States. View our privacy policy and terms of use.
Payments Dive
OCTOBER 15, 2019
As banks strive to offer customers good online experiences, they often partner with a variety of fintechs. But how do they ensure that their apps are secure?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
PYMNTS
JANUARY 22, 2021
Young B2B FinTechs secured some of their first investments in areas that include small business accounting, alternative lending and financial management. Volopay is building out its FinTech platform designed to streamline financial control for businesses. The company recently announced $6.5 TripActions.
Perficient
JULY 11, 2022
When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout. But, the reality was, even though I felt more financially secure, I wasn’t technically in any less debt than I would have been had I just bought the shoes outright.
Banking Exchange
SEPTEMBER 1, 2020
Technology Feature3 Fintech Feature Customers People Covid19 Security Cards Mobile Online Tech Management. As their investment in digital transformation increases, banking organizations are learning a valuable lesson that all comes down to trust.
Bank Innovation
JANUARY 25, 2018
EXCLUSIVE – Fintech security company Tender Armor today raised a Series A funding from private investors. The amount was undisclosed, but company CEO Madeline Aufseeser told Bank Innovation the multi-million-dollar amount was above the industry average for the amount invested and the company valuation.
PYMNTS
NOVEMBER 11, 2020
Fintech Partner Connect will “support new ways for businesses and consumers to seamlessly and securely pay, get paid, send money and more,” a spokesperson for the credit card and financial services giant said in an email announcing the new program on Visa on Wednesday (Nov.
PYMNTS
MARCH 20, 2020
Banking technology FinTech Finastra was hit with a security breach on Friday (March 20), and was forced to shutter key systems and send employees home, according to a report by KrebsonSecurity. We wish to inform our valued customers that we are investigating a potential security breach. At 3:00 a.m.
Bank Innovation
MARCH 8, 2019
Online payroll company Gusto is scaling its security team, starting with the appointment of Square's former head of information security, Frederick Lee, as its chief security officer. The move comes as Gusto lays the foundation for a potential initial public offering (IPO).
PYMNTS
AUGUST 6, 2020
As bank-FinTech collaborations evolve, more traditional financial institutions (FIs) are not only implementing services and technologies developed by FinTech partners, but they’re also lending their own expertise to augment FinTech solutions. In another bank-FinTech tie-up, J.P. Tyfone Connects FIs To Payrailz.
PYMNTS
JANUARY 19, 2021
With more financial institutions (FIs) turning to external third-party FinTechs to strengthen their small- to medium-sized business (SMB) and corporate offerings, the collaboration model is proliferating across national borders. BNL Goes Live With Tink. ní banka Taps Temenos. The Czech Republic’s Komer?ní
PYMNTS
NOVEMBER 27, 2020
More consumers than ever are turning to online shopping channels to meet their needs during the pandemic, but many are also aware that cybercriminals are looking to capitalize on this stepped-up online activity to steal their card data. Firms are also prioritizing security as they transact online more heavily as well.
PYMNTS
JANUARY 19, 2020
Mumbai, India-based online business-to-business (B2B) marketplace Beldara is planning a global expansion to link more international suppliers with overseas buyers, reports said on Thursday (Jan. In other Indian business news , Tracxn data has indicated that B2B FinTech firms saw $14.5 B2B FinTech firms overall secured more than $33.5
PYMNTS
JANUARY 22, 2020
FinTech solution company Entersekt has upgraded its authentication technology in the DACH region of Europe, according to a release. The company recently announced that the software company Netcetera implemented the authentication system for Bank-Verlag, a company that makes and provides secure services for Germany’s banks.
PYMNTS
JANUARY 25, 2021
Building on top of the open banking infrastructure, PayDirect is a new payment method that enables companies to take online payments in a highly secure way, and also pay out to customers through the same rails. I mean, how does a piece of plastic have anything to do with online?
PYMNTS
JUNE 19, 2020
It was a big week for B2B FinTech startups in Latin America. It’s an attractive market indeed for investors, with not one, but two Brazilian B2B FinTechs making this week’s venture capital roundup. Until then, PYMNTS rounds up the most recent B2B FinTech investment rounds below. Remessa Online. Authenticiti.
PYMNTS
JUNE 9, 2020
Cybercrime is surging during the COVID-19 pandemic as fraudsters seize on increased online activity to steal consumers’ sensitive personal details. Other companies are adopting biometric identity verification solutions from third-party FinTechs. Deep Dive: Using Biometrics To Enable And Enhance AML/KYC Compliance. About The Tracker.
Independent Banker
AUGUST 31, 2022
ICBA’s Bank Security Institute offers critical incident response strategies to keep your physical branch location safe. And as banking processes increasingly moved online, community bankers needed to fortify their online defenses against fraud and cybercrime. In August, ICBA hosted the Bank Security Institute.
PYMNTS
NOVEMBER 3, 2020
While FinTech innovation has opened up the doors for small- to medium-sized businesses ( SMBs ) to access more sophisticated solutions to manage money, software fatigue has business owners overwhelmed by a barrage of siloed systems. According to Yakov, before the pandemic, about 65 percent of The OLB Group's merchant base were not online.
PYMNTS
DECEMBER 15, 2020
IBM has acquired Montreal-based FinTech Expertus Technologies , according to a press release , in a bid to boost its hybrid cloud and artificial intelligence (AI) tech as well as its digital payment strategies.
Gonzobanker
AUGUST 17, 2022
Most fintech companies are fine, but they’ve stopped blowing off econ class for mimosa brunches. Especially in fintech, which had the roughest semester last spring. Fintech is still alive and well, Gonzobankers, and fintech deals are still happening. Banks Bought More Fintechs (Until Sum mer Break Started!).
CFPB Monitor
SEPTEMBER 8, 2022
Since the beginning of Michael Hsu’s tenure as Acting Comptroller of the Currency, bank/fintech partnerships have been a focus of OCC concern. Mr. Hsu also raised concerns about unknown risks or “nasty surprises” arising out of bank-fintech arrangements. He advised banks to closely monitor risk and compliance in these partnerships.
Bank Innovation
FEBRUARY 21, 2019
Keeping your money in a bank is common sense at this point, but online banking is – unfortunately – not something many people have grown accustomed to, yet. There are many benefits to explore in this area, and it’s not a bad idea to check out what some online banking services can do for you […].
PYMNTS
MARCH 15, 2016
StreetShares, an online lender that offers loans to small businesses — many of them veteran-run — has secured another batch of funding. The company, founded by CEO Mark Rockefeller, announced that it has secured a $4.5 million Series A round but noted that the round is still open.
PYMNTS
OCTOBER 23, 2020
Online grocers are increasingly allowing underprivileged consumers to use EBT payments (the modern equivalent of food stamps) at a time when the pandemic has made going to the store too risky for many shoppers. The move by the two companies is just the latest initiative in a growing trend of EBT acceptance for online grocery shoppers.
PYMNTS
JANUARY 27, 2021
The banking industry faces many day-to-day business challenges, including competition with digitally native FinTechs and the ubiquitous social distancing restrictions brought on by the pandemic. Lackluster customer onboarding authentication is one of the weakest points in most banks’ anti-fraud security systems.
Bank Innovation
NOVEMBER 16, 2017
EXCLUSIVE -Fintech startup Token has inked a major partnership with payment processor Marqeta and Mastercard that tremendously expands its reach in the online retail space, just in time for the holidays. “By By partnering with Marqeta and Mastercard, it opens us (Token) to almost every merchant that uses Mastercard.
Gonzobanker
JULY 9, 2021
The fintech market is smokin’ hot right now. Fintech is no different. Q1 2021 was the largest funding quarter on record, according to CB Insights , with fintechs raising $22.8 Banks and fintechs are in a heated mashup and seeking niches. Fifth Third Bank is acquiring healthcare fintech Provide.
PYMNTS
APRIL 30, 2020
The startup Flutterwave , which picked up $35 million last year in venture funding, has launched an online portal that will enable African businesses to set up online shops. The company told TechCrunch that its newly launched product, called Flutterwave Store, is not a shift away from the company’s core online payments business.
PYMNTS
DECEMBER 2, 2020
Luxembourg regulators have given a thumbs-up to the FinTech PingPong , authorizing it to do business as an Electronic Money Institution (EMI). The San Mateo, California-based company said the new license would aid its expansion efforts and ensure that it can “provide a secure electronic wallet.”. The company is now valued at $1.5
Bank Innovation
NOVEMBER 6, 2017
Chinese and Australian regulators are partnering up on fintech. The Australian Securities and Investment Commission (ASIC) and the China Securities Regulatory Commission (CSRC) have agreed to share fintech information with the other party.
PYMNTS
JANUARY 8, 2021
It said it is striving to protect people’s rights and interests and safeguard national security. FinTech leaders in China started scrambling for capital in November 2020 when regulators first started cracking down on financial services and payments firms.
PYMNTS
NOVEMBER 8, 2018
banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech startups and financial institutions (FIs). The new guidelines, developed by the British Standards Institute (BSI), aim to address issues that interfere with FinTech firms and banks forming alliances.
PYMNTS
APRIL 8, 2020
financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Small businesses, meanwhile, can use the platform to apply online as fewer physical bank branches are available. Small businesses overwhelmed U.S. billion in applications.
PYMNTS
JANUARY 19, 2021
Cannabis software and delivery firm Blackbird is working with FinTech AeroPay to bring cashless payments to the cannabis industry, according to a press release emailed to PYMNTS. Blackbird customers will have access to an online pre-pay option for ordering items for delivery or curbside pickup.
PYMNTS
SEPTEMBER 15, 2020
Necessity being the mother of invention, consumers rapidly reset their lives around digital across the board — from working to shopping to learning to managing their financial lives online. That’s where FinTechs can come in. However, Kikkeri said FIs should consider the robustness of potential FinTech partners’ offerings.
PYMNTS
AUGUST 22, 2019
FinTech firms are tapping into automation and training to stay on top of the latest security developments, while keeping an eye on evolving trends in the payments space. financial institutions reporting growing losses attributed to online and mobile fraud.
PYMNTS
MARCH 31, 2020
FinTech firm MatchMove has struck a deal to acquire a “strategic stake” in eCommerce solutions company Shopmatic, according to reports. Shopmatic said it helps business owners increase their sales by accessing new markets through online channels and point-of-sale solutions. Financial details of the acquisition were not disclosed.
PYMNTS
FEBRUARY 28, 2020
FinTechs are helping companies understand and optimize their total cost of payments acceptance through technology. Big online eCommerce, gig economy or other merchants “tend to have a lot of different payment services that they use,” he told PYMNTS in an interview.
Bank Innovation
MARCH 7, 2018
EXCLUSIVE (SAN FRANCISCO) -- Welcome back to the fintech boom. At this time last year, fintech was in a downturn. Fintech venture funding was down more than 9% year-over-year; valuations seemed stuck. But the fintech market has rebounded.
PYMNTS
JANUARY 28, 2020
George Ruan and Ryan Hudson, the co-founders of online coupon service Honey, received a pre-tax haul of $1.5 Honey is a service that automatically searches for coupon codes when a person is checking out online. Other FinTechs have also been doing well, like Plaid , which recently sold to Visa for $5.3 28) by Bloomberg.
PYMNTS
SEPTEMBER 12, 2018
Omni Security and Authentication. Consumers expect to do business with their bank online seamlessly, without the hassle of complicated security checks, whether through their mobile phone, smart watch, home speaker or other connected device. Around The Security And Authentication Space. About the Report.
PYMNTS
JUNE 17, 2020
and Israeli FinTech collaboration, announced a Series D funding round in which it raised $102 million, according to a press release , bringing the company’s issuances to over $1 billion in the past year and a half, the Pagaya said on its website. Pagaya , a U.S. GF Investments, and Siam Commercial Bank.
PYMNTS
JANUARY 19, 2021
Cannabis software and delivery firm Blackbird is working with FinTech AeroPay to bring cashless payments to the cannabis industry, a press release says. Blackbird customers will have access to an online pre-pay option for ordering items for delivery or curbside pickup.
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content