Things worth reading: 20th December 2019
Chris Skinner
DECEMBER 19, 2019
Things we’re reading today include … Emerging market debt hit $55 trillion Goldman Sachs may admit guilt, pay $2 billion fine to settle U.S.
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Chris Skinner
DECEMBER 19, 2019
Things we’re reading today include … Emerging market debt hit $55 trillion Goldman Sachs may admit guilt, pay $2 billion fine to settle U.S.
PYMNTS
JUNE 26, 2020
The company was involved in deliberate deceit and had given false statements on escrow while EY was carrying out the 2019 audit of the company, which EY took to the relevant authorities, Reuters reported. The matter concerns the $2.1 billion, which was roughly around a quarter of the company’s books and which no one could prove existed.
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Perficient
JANUARY 4, 2022
According to CoinGecko, the cryptocurrency market is worth more than $2.35 Although this market seems promising, the potential for big gains does not come without hefty risk. Bank customers with a custody solution that “meets the highest security, compliance and regulatory standards.”. Northern Trust.
PYMNTS
JANUARY 2, 2019
Researchers forecast virtual cards to power a 10 percent annual growth rate of the commercial card market through 2022, with virtual commercial card spend on mobile wallets expected to grow by 43 percent during that time, totaling $42 billion by 2022. We think 2019 will be a crucial year for this sector. ” Enhancing Security.
Abrigo
JANUARY 24, 2025
Understanding broad market trends and the specific forces affecting bank and credit union portfolios can guide institutions decisions while helping them prepare for examiner scrutiny of CRE risk , according to a recent Abrigo webinar, Being strategic with your CRE.
PYMNTS
JANUARY 1, 2019
A robust supply of private capital reportedly is one of the main reasons for that, along with corporate cultures that are averse to public markets. But relatively high stock prices and access to more capital remain prime temptations, and there is little doubt that 2019 will bring more than few exciting — and telling — IPOs.
Bank Innovation
DECEMBER 13, 2019
Welcome to the latest episode of our weekly wrap video series, for the week ending Friday, December 13, 2019.
PYMNTS
JUNE 17, 2019
Promising as intelligence of things (IoT) solutions are, though, security has been a stumbling block. The June IoT Tracker explores the latest advancements in IoT security and new applications of smart technology. According to the tracker, the global IoT security market is expected to increase by a 35.5
Bank Innovation
DECEMBER 31, 2018
Over the past 12 months, Bitcoin – the most popular cryptocurrency – lost more than 70% of its market capitalization and Ethereum lost more than 80% of its value, according to digital currency exchange Coinbase. It was a tough year for cryptocurrencies.
PYMNTS
FEBRUARY 28, 2019
The funds will go toward scaling Zededa’s infrastructure, increasing R&D and expanding sales, marketing and customer success programs to provide greater support to its growing, global customer base.”. IoT Security Concerns. Security Upgrades? percent by 2024.
PYMNTS
JANUARY 30, 2020
Consumers also show continued interest in debit even as they adopt newer payment instruments, and a 2019 report found that 61 percent of mobile wallet users linked debit cards. This payment rail’s use is going strong in the United States, with debit card penetration reaching 78 percent in 2018. Card fraud is an ever-present threat.
PYMNTS
DECEMBER 24, 2018
But in hopes of hopping on the holiday bandwagon — and providing data-backed insight in the hottest payment trends for 2019 — allow us to offer this list of a dozen ways that consumers (and some businesses) are paying now, methods that promise to play big roles in 2019. 2: With Their Voices. 6: With Person-To-Person Mobile Tech.
PYMNTS
MARCH 25, 2019
Thus, IoT security is becoming an essential part of modern conversations. Department of Homeland Security (DHS) and data security and privacy practice chair of D.C.-based A lot of the devices we’re talking about have no security. They weren’t built with security in mind, and there really isn’t any way to patch them.”.
PYMNTS
JUNE 24, 2020
Since COVID-19, non-bank lenders have been hurting as capital markets became less available and retail investors tried to withdraw their cash from the P2P sector, the Times reported. The company will target younger borrowers with digital features that are common with debit cards but remain rare in the credit card market, the Times reported.
Bank Innovation
JUNE 3, 2019
Bank, will participate in a fireside chat at Bank Innovation Build 2019, this blog’s event on best practices in banking innovation. Dominic Venturo, executive vice president and chief innovation officer at U.S. Bank Innovation Build will take place November 6-7 at Atlanta’s W Hotel Downtown. Register here.)
PYMNTS
FEBRUARY 26, 2020
Credit unions (CUs) are performing well as the new decade dawns, with a recent study finding that CUs increased their loan originations by 29 percent from Q4 2018 to Q4 2019. percent in 2019, compared to 10.5 The new platform provides dynamic marketing campaigns based on members’ transactional, lifestyle and behavioral data.
Perficient
JANUARY 26, 2021
Let’s start off with an understanding of what quantum computing is, how it’s going to reshape the world, and what the current market trends look like. The development of quantum computers could affect data security. The Global Commercial Quantum Computing Market. As you can see, the quantum market is highly competitive.
PYMNTS
DECEMBER 28, 2018
One of the biggest shifts in banking that FinTech newcomers ushered into the market is the demand among customers for advisory services. Glover spoke with PYMNTS again about how this trend will carry into 2019 and what technologies might be able to help banks strike the balance. In 2019, it is about ensuring the FI has the right?
PYMNTS
SEPTEMBER 11, 2019
percent: Projected CAGR of the global AML software market as measured from 2019 to 2026. million: Average annual AML compliance spending for Canadian firms with less than $10 billion USD in total assets. 10,000: Number of KYC images from crypto exchange Binance allegedly accessed by a cybercriminal.
PYMNTS
SEPTEMBER 30, 2019
Digital banks, alt credit providers and digital wallet providers may not be thinking about cards as of late 2019, but they are thinking about how to scale their solutions beyond their domestic markets — how to make them interoperable on a global stage. So today (Sept. 30), the card network announced just such a FinTech partnership.
PYMNTS
DECEMBER 14, 2020
At a time when our nation’s secrets at the NSA and Homeland Security and assets at the Department of the Treasury were able to be illicitly tapped into by foreign hackers, the security and reliability of countless other online industries and enterprises have also been brought into question.
PYMNTS
JANUARY 20, 2020
Fabara officially joined Visa in September of 2019, coming from Amex, where he was president of its global services group. Now four months in, he told Webster that the idea of a secure and trusted payments ecosystem is part of Visa’s “corporate DNA.” Going on the Offense. More and more, we are going after bad actors with a vengeance.
PYMNTS
JULY 31, 2020
According to computer security firm McAfee, criminals have been using RagnarLocker since late 2019. “RagnarLocker is a simple ransomware, much like others that exist in the criminal market. ” Reuters said the hackers used software called RagnarLocker. The code is medium in quality.”
PYMNTS
NOVEMBER 26, 2020
Social Security Administration, for example, requires recipients using its website to provide unique eight-digit codes sent via text to their smartphones in addition to their usernames and passwords when they sign up or log in. . A silver lining exists, however. It also outlines some of the frictions entities face when doing so. .
PYMNTS
MARCH 10, 2020
A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place. Businesses and organizations are already taking steps to close this security gap. About the Tracker.
PYMNTS
NOVEMBER 12, 2018
The Nassau Guardian reported that the framework will address many of the regulatory challenges the bank associates with crypto, including tax evasion, market volatility, fraudulent initial coin offerings (ICOs), and anti-money laundering policies.
PYMNTS
FEBRUARY 17, 2020
Concern about the IoT ecosystem’s vulnerability to hackers was underscored by recent reports that 2019 marked a record high for data breaches, far surpassing industry estimates. While some companies are using IoT applications to protect their operations, others are tapping it to improve market share. About The Tracker .
PYMNTS
NOVEMBER 20, 2020
Perry, and new fund Bramalea Partners, launched by Andrew Boyd, former head of global equity capital markets at Fidelity Investments. Along with growing revenue, Loadsmart, in turn, said it has managed to keep a lid on operational expenses, which it says it has kept at 2019 levels. “As Chromo Capital co-led the deal.
BankUnderground
JULY 10, 2024
Miruna-Daniela Ivan, Joshua Lillis, Eduardo Maqui and Carlos Cañon Salazar Funding markets are crucial for healthy and active financial institutions, and consequently for everyone in the economy. The seller receives cash in exchange for the securities, while the buyer earns a return on the cash lent.
PYMNTS
JULY 25, 2019
Banks need to keep this requirement top of mind as they compete against other FIs in newer markets, however. It is thus imperative that those seeking to expand into new markets adjust their fraud protection strategies to better fit local customer needs. Bringing a global fraud approach to a new local market. operations.
PYMNTS
JANUARY 6, 2021
Petco will file its initial public offering (IPO) with a valuation of almost $4 billion, according to a registration statement filed with the Securities and Exchange Commission (SEC) Wednesday (Jan. billion in 2019, with 66 percent of that number used to pay for pet food. In 2019, Petco saw its shares go up 9 percent and hit $3.58
PYMNTS
JUNE 29, 2020
The money represented around a quarter of the total revenue the company had between 2016 and 2019. Earlier this year, EY said it had refused to sign off on Wirecard’s 2019 accounts due to the discrepancies and false statements around the missing money.
PYMNTS
SEPTEMBER 2, 2020
The Montreal-based payment technology company was valued at $2 billion at the close of 2019. If approved by the Canadian Securities Administrators (CSA), the country’s equivalent of the U.S. Securities and Exchange Commission, the stock would be listed on the Toronto Stock Exchange under the “NVEI” ticker.
PYMNTS
MAY 1, 2020
have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work. these programs appear to have remained the same in most markets. with ease, control and security.”. 18, 2019, Choi continued. and the U.S.
PYMNTS
AUGUST 19, 2019
The Intelligence of Things Tracker has shown that smart cities, security and even healthcare are all getting a boost from tech-powered devices that promise ease and convenience in keeping our lives, well, humming. 33 percent: Projected CAGR of the global IoT insurance market, as measured between 2019 and 2025.
PYMNTS
OCTOBER 21, 2020
Swedish peer-to-peer (P2P) lending startup Lendify has secured $115 million in funding from Insight Investment, according to a Bloomberg report on Wednesday (Oct. Co-Founder and Chief Executive Officer Nicholas Sunden-Cullberg said the funding will also help the 2014 startup take control of the consumer loan market. .
PYMNTS
OCTOBER 2, 2020
Adhering to Payments Card Industry (PCI) Data Security Standards (DSS) is an unavoidable requirement for any and all eTailers that accept card payments, but a surprising number of firms are not up to speed on these standards. The need for digital security has never been more paramount than during the COVID-19 crisis.
PYMNTS
AUGUST 22, 2019
22) that showed double-digit percentage gains in volumes, driven by online commerce and increased traction among mid-market firms doing business and taking payments across the globe. Management pointed to the recent introduction of the 3D Secure 2 product, now deployed by Uber, Match.com and other firms. million euros. million euros.
PYMNTS
FEBRUARY 23, 2020
Chase has usually not done international operations, preferring to nurture its huge and profitable domestic market. Since leaving that role in 2015, he has worked in other capacities for JPMorgan, chairing its international business between 2016 and 2019. leaving the European Union. ” Goodbody analyst John Cronin told the F.T.
PYMNTS
JANUARY 30, 2020
30), citing a security researcher. The breach was supposedly discovered via white-hat or ethical hacking , the security researcher said. The security researcher got into SpiceJet’s network last month by “brute-forcing” the system’s weak password. CERT-In reaffirmed that a security lapse had taken place and told SpiceJet.
PYMNTS
JUNE 25, 2020
Digital fraud and cybercrime are constant worries for financial institutions (FIs) of all sizes, with these businesses seeing an average of 30 cyberattacks per hour in 2019 for a total annual cost of $1.45 million such attacks aimed at APIs between December 2017 and November 2019. Building Consumer Trust With Open Banking Security.
PYMNTS
APRIL 23, 2020
More banks are therefore moving away from legacy core systems to embrace cloud-native architectures to power automation and meet the speed expected by consumers, securely. The acquisition was finalized in July 2019 for $34 billion. The bank has designated $3.7 billion of its funds for this effort.
PYMNTS
NOVEMBER 30, 2020
trillion total addressable market. “We Securities and Exchange Commission. billion in the same 2019 period. Still, the company disclosed in the filing that it sees the firm’s serviceable addressable market — a measure of total potential business in its current core areas — as $1.5 That includes $1.2 That included $1.8
PYMNTS
JULY 10, 2020
In a filing with the Securities and Exchange Commission (SEC), the startup reported it plans to raise as much as $253.5 Its stock would be listed on the NASDAQ Global Select Market under the “NCNO” ticker symbol. percent of total revenues) in 2019 and $38 million (65.4 The Wilmington, North Carolina-based company nCino Inc.,
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