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Today In Payments: Mastercard’s Cyber Secure Helps Fight Cyber Fraud; Amazon Focuses On Fulfillment After Record Quarter

PYMNTS

In today’s top news, Mastercard reveals its AI tool Cyber Secure to help banks fight cyber breaches, and Amazon reported record-setting earnings. Mastercard’s Cyber Secure Uses AI to Help Banks Fight Cyber Fraud. The final chapter in the digital banking transformation has not been written.

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Israel Approves New Digital Bank

PYMNTS

The Bank of Israel is green lighting a new digital bank — the country’s first new financial institution in decades. The digital bank is led by entrepreneurs Marius Nacht of cyber security company Check Point Software Technologies , and Amnon Shashua of autonomous driving developer Mobileye NV.

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4 considerations for banking leaders concerned about cyber security

NCR

While the ISO reports to the board on all cybersecurity, the degree to which this person is engaged across all banking functions can make a significant difference preventing digital fraud. ISOs who communicate with technology-specific terms and jargon are not serving the security interests of the bank well.

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CFPB penalizes credit union over 'botched' digital banking upgrade

American Banker

The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.

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Cybercrime is digital banking's greatest threat, bankers say

American Banker

About 90% of surveyed bankers said cybersecurity was their biggest worry, ahead of legacy tech and talent shortage issues.

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Inside China’s Cyber, Financial Regulatory Changes And Challenges

PYMNTS

billion-strong, high-spending consumers and their willingness to adapt to new technologies, trends and products may represent the economy of the future for many banks and businesses, but it is notoriously difficult for firms to enter and compete in this market. Confronting the Chinese Privacy Myth .

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The top 4 trends banks can’t ignore in 2019

Cisco

Mobile-first banking is an immediate driver of digital strategy. While banks work to build the right customer experience across channels, emerging technologies like voice-first banking and intelligent chat bots gain footing. Cyber security is more than just “top of mind.”

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