Mastercard Talks Securing Innovation, And Innovating Security

PYMNTS

In financial services today, security and innovation can work with each other, and against each other. But customers’ constant demand for cutting-edge products and services is adding to the load of already heavy security burdens. For the banks and merchants serving them, the challenge is matching the great strides in connectivity with consistency of experience and security. Passwords remain commonplace, despite the evolution of security technology.

Three success factors in security operations

Insights on Business

Financial institutions are leading the charge in building security immune systems, knowing they are most threatened. They are looking for end-to-end security operations that are flexible and scalable, data-driven and applied with automated, operational accuracy.

A Quantum Leap For Data Security

PYMNTS

In security, as always, time is of the essence. The emergence of a high-speed quantum internet, then, would be a way to secure the actual transmission of data, but at speeds that approach those used today via traditional methods, rendered in gigabits per second. Think of it as physics vs. algorithms, then, in a universe where the latter is secure only for some length of time, and the former is secure forever. Change sometimes comes to technology at the speed of light.

Consumers Are Less-Than-Secure Over Payments Security

PYMNTS

How secure do you feel when it comes to payments? Two-thirds of the more than 3,000 adults surveyed said they were concerned about data security, with 38 percent of respondents believing their private information may have already been exposed. Age plays a factor in these beliefs, too: More than 70 percent of those over the age of 45 reported concerns about security versus 59 percent of those aged 18 to 24. Security is making its way to the boardroom,” Kling countered.

Network Security Firm CUJO Raises More Capital

PYMNTS

based company whose artificial intelligence-powered software platform enables in-home network security for network operators, after a Series B funding round. CUJO’s leading edge technology will help Charter enhance its superior connected home experience, providing customers advanced security, privacy and additional control over their in-home networks,” said Andrew Ip, senior vice president of emerging technology and innovation for Charter Communications, in a statement.

Does it Matter if Cryptocurrencies Are Securities? (No)

Bank Innovation

EXCLUSIVE— While the debate over whether cryptocurrencies are actually currencies, securities, or somehow a mix of the two drags on, there’s another question crypto enthusiasts should ask: does it matter?

Are Humans the Weak Link in Bank Security, or Is It Outdated Technology?

Bank Innovation

The most vulnerable aspect of a bank's security is the people -- employees and customers -- or so the story goes. But four security experts came together to discuss the issue and opinions differed.

More Security Startups, Blockchain Still Absent at Finovate Day 2

Bank Innovation

Exclusive Innovations Mobile Open Fintech Payments Premium Risk Security Startups authentication biometric authentication biometrics Blockchain Finovate Mastercard QR codesSANTA CLARA, Calif. –

The Perfect Secure Payments Storm

PYMNTS

The updated 3D Secure 2.0 In a recent digital discussion with Karen Webster, Michael Sass, VP Market Product Management, Security Solutions, Europe, Mastercard , and James Rendell, VP Product Management, Payment Security, CA Technologies , discussed the advantages as well as the obstacles that are still in the way. Sass says weak security challenges like passwords and knowledge-based questions (i.e. They are also far less secure than biometric alternatives.

Data Security: Car Edition. Really.

Credit Union Geek

Originally published on CUInsight.com When you hear “data security”, what comes to mind? The post Data Security: Car Edition. Articles all your base are belong to us auto loans car computers cars data security gps lending member safety privacy

Securing Consumer Data Beyond The SSN

PYMNTS

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised. And social presence makes a difference, offering up a layer, or layers, of defense in the battle for secure identities.

Homeland Security Warns Consumers Of Infrastructure Attacks

PYMNTS

According to a news report in Reuters , in a rare move, the Department of Homeland Security and the Federal Bureau of Investigation (FBI) warned that sophisticated hackers are targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities. Department of Homeland Security spokesman Scott McConnell declined to tell Reuters what prompted the current government cybersecurity warning. Cyberattacks targeting U.S.

Convenience Trumps Security for Consumers

PYMNTS

consumers are handling the shift to EMV-compliant POS systems, the responses revealed that consumers have little incentive to choose safe and secure payment options. In a recent survey focused on how U.S.

Tokenization Sets B2B Payments On A Path To Security, Speed

PYMNTS

Payments security is an increasingly critical component for businesses on both sides of a B2B transaction today. WEX’s Payments Pulse Data report published last year found payment security to be suppliers’ No. Separate research from TD Bank and Strategic Treasurer published last month found that businesses will focus their innovative efforts in payments around security, as 74 percent said they view the increase in cyber fraud as a growing concern for 2018 and beyond.

NEW REPORT: Will Biometrics Ring In A More Secure 2017?

PYMNTS

In order to keep mobile customers, payments and data safe, multiple security companies recently formed partnerships designed to bolster their mobile security. Meanwhile, similarly, FirstBank announced last month that it would turn to Entersekt to help secure its iOS app.

Selling Security

Independent Banker

Security fears about online banking may be impairing your community bank’s ability to grow demand deposit accounts. Nearly two-thirds of those who do not use mobile banking cite concerns about security issues such as data interception, phone hacking, or a lost or stolen phone.

Security Remains a Top Concern for Banks Looking to Innovate in Payments

Bank Innovation

Security and fraud risk remain the top priority for retail banks seeking to update their payments infrastructure, a study released this week by ACI WorldWide and Ovum found.

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Blockchain Security A Moving Target For Both Developers And Hackers

PYMNTS

Regardless of where blockchain makes its mark, what is certain is that corporates have to trust that a largely unfamiliar innovation will work the way it should; that means securely, efficiently and easily. Software testing in general extends to every realm where code is used, because any issues with code pertaining to any facet of technology could mean one of two things: either a bad user experience or a product that is not secure,” he stated.

NEW REPORT: Why Banks Farm Out Mobile Security

PYMNTS

As more Americans reach for their mobile devices when making purchases, providers are looking for new ways to secure smartphones. Meanwhile, BIO-Key also had a busy week at CES, where the company unveiled a trio of new products bringing biometric security to physical devices.

Chase and Intuit Launch API for Secure Customer Data Sharing

Bank Innovation

The companies signed an agreement this morning, giving customers the option to authorize Chase to electronically share financial data securely with Intuit’s financial management applications, such as Mint, TurboTax Online and QuickBooks Online.

SMEs’ $3B Security Blunder

PYMNTS

While small and microbusinesses are not known for their stellar security posture, there are new and exciting tools available to help in the detection of fraud and assist in better authentication, prevention,” said JAVELIN Research Director and Head of Fraud and Security Al Pascual in a statement. Small businesses are increasingly targeted by cyberthieves looking for easy prey. A new report from JAVELIN has uncovered the price of being an easy target.

Smart Grids Aren’t Secure, Survey Says

PYMNTS

A new survey from Tripwire , a global provider of security and compliance solutions for enterprises and industrial organizations, revealed that 98 percent of professionals in the IT field believe that smart cities are vulnerable to cyberattacks. Security & Fraud cyber threats Cybersecurity Smart Cities Tripwire What's Hot

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Are Connected Devices Threatening Payment Security?

PYMNTS

While it’s not uncommon for these Internet of Things (IoT) devices to be accessed by attackers looking for a stealthy way in, it’s also not uncommon for merchants to overlook these as a point of security vulnerability. Intel Director of Mobility and Secure Payments Michelle Tinsley noted that, oftentimes, businesses are so hyper-focused on safeguarding payment data and PCI compliance that they easily lose sight of the other places where consumer data is left unprotected.

Homeland Security Warns Businesses About Intel Chip Vulnerability

PYMNTS

The Department of Homeland Security (DHS) is urging U.S. businesses to act on an alert issued by chip maker Intel regarding security flaws in its computer chips. According to a report in Reuters, the government agency warned businesses a day after Intel disclosed it has found security weaknesses in remote management software. Intel is not the only high-profile firm to warn about security issues in recent days.

Too Much Security? There’s No Such Thing

PYMNTS

Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. It goes without saying that eCommerce security is paramount as cybercriminals get smarter and more creative. There’s never ‘too much’ security,” Grant said. But there can be too-intrusive security.

EU Tightens Online, Offline Shopping Security Standards

PYMNTS

The European Commission has signed off on new rules that they say will make it more secure for consumers purchasing goods and services from European Union members. 27) report by Reuters, the rules will update the European Union’s payment services law, requiring two security features for online merchants instead of a single password or just credit card details when making a purchase in person. 13, with some of the security measures not binding until September 2019.

Fed Names New Payments Security Leader

PYMNTS

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. He will lead the Fed’s initiative to address payments fraud risk and boost the security of payments in the U.S. The position means Montgomery will chair the Secure Payments Task Force, one of several task forces the Fed has formed to promote innovation and advancement in the industry. The U.S.

Going Mobile To Get Smarter On Security

PYMNTS

However, according to David Velez, the company’s CEO, utilizing smartphones for security means it’s especially important to protect that information, which, as the FTC points out, can be used by fraudsters to steal a user’s identity. Can a smartphone keep you and your money safe from fraud?

The DIY Approach To Retail Data Security

PYMNTS

In the recent instance of the XSS security vulnerabilities that befell the online shopping cart Zen Cart, for example, the company acted quickly to solve its own problem. But the fact is that things don’t always sort themselves out, effectively, in the retail security game.

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Intel Faces Lawsuits For Security Flaws In Microchips

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A month after security researchers publicized security flaws in Intel ’s microchips, along with those of other manufacturers, the company is facing 32 lawsuits over the vulnerabilities. Forrest, whose firm owns shares in Intel, also predicts that Intel will increase its chip development spending to focus on security. Security & Fraud AMD Intel Microchips News What's Hot

Socure Secures Santander Investment

PYMNTS

Security & Fraud digital identity verification Santander Socure startup funding What's HotSantander InnoVentures , a FinTech venture capital fund, announced on Wednesday (June 22) that it is making a strategic investment in identity verification platform Socure. As a real-time digital identity verification solutions provider, Socure uses trusted data from a consumer’s digital footprint — the social biometrics of individuals — to confirm their identity.

Fed Task Force Releases Payment Lifecycles And Security Profiles

PYMNTS

Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” The profiles serve as educational materials outlining the lifecycles, security characteristics and relevant laws and regulations for the most common payment types, the Federal Reserve said in a press release. “We

PayPal Dodges Security Bullet

PYMNTS

PayPal thwarted a security vulnerability that would have enabled malicious emails to be sent from its platform thanks to its bug bounty program. Security & Fraud bug bounty Cybersecurity Hackers PayPal What's Hot

How Fake News Drives Corporates To Redirect Their Security Strategies

PYMNTS

Compromise Security For Customer Experience. Sometimes that comes as a tradeoff with security.”. The checkout experience, for example, can come riddled with hurdles for a customer passing through multiple layers of authentication and security. Sophisticated data analytics technologies like machine learning and artificial intelligence can help SMBs and large enterprises alike in maintaining a positive customer experience without compromising security, according to Lee. “We

WhatsApp Denies Security Encryption Issue

PYMNTS

WhatsApp may not be as secure as thought after a security issue in the messaging app has been identified that enables messages sent via encryption to be read. The security issue was identified by Tobias Boelter, a cryptography and security researcher at the University of California, Berkeley. “If WhatsApp encryption is supposed to be top-notch because it relies on generating unique security keys using the Signal protocol.

Google To Offer New Online Account Security Tools

PYMNTS

Aiming to protect users from hackers and political operatives, Google is gearing up to enhance its online security tools. The program will be offered to corporate executives, politicians and other individuals who have higher than average concerns about security.

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Today in Data: Soaring Global IT Security Spend

PYMNTS

This year, spending on IT security efforts to help avoid future cyberattacks will reach an all-time high, according to Gartner’s latest research. Here are the numbers: $93 billion | Amount Gartner predicts information and IT security services will be for 2018. billion | Amount Gartner predicts information and IT security services will be in 2017. 40 percent | Amount of all managed security service contracts paired with other IT-related security projects by 2020.

Payments Fraud, Cybercrime Overwhelm Corporate Security Efforts

PYMNTS

Sift Science has just released its latest research on how businesses combat security threats, and its report, published last week, offers insight into how the issue of cybersecurity takes many shapes within the enterprise. Despite plans to boost money on the enterprise security front, Sift Science’s research found that businesses today are expected to do more with less when it comes to cybersecurity. B2B Payments B2B Cybersecurity encryption enterprise security payments fraud

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SMS No Longer Secure for 2-Factor Authorization

Bank Innovation

Compliance Mobile Security Technology Bank of America Facebook First Republic Google JPMorgan Chase Messaging SMS text messages USAA Wells FargoIt might be time to say goodbye to those text messages containing PINs to help you log into your favorite banking site. The U.S.

Hackers Strike It Big On Security Vulnerabilities

PYMNTS

You don’t have to look far to see security flaws leading to massive data breaches. Security experts believe that may be what happened to Yahoo — the tech giant confirmed that over 500 million user accounts were compromised by hackers, marking what is said to be the largest data breach in U.S. The stolen information includes names, email addresses, telephone numbers, dates of birth, hashed passwords and, in some cases, encrypted or unencrypted security questions and answers.