PYMNTS

JULY 1, 2020

Is it surprising to know that 55 percent of legacy financial institutions (FIs) report lacking maturity in core systems? Or that, on average, 15 percent of an FI’s annual operating costs go toward maintaining core banking systems that are outmoded? It’s true, but not for long. AI Poised for a “Profound Impact”.

System 268

System Digital Banking Tools User Experience 268

Cisco

MARCH 29, 2022

It’s evident that digital investments made prior to 2020 helped many financial institutions respond quickly to a rapidly changing operational environment. As financial services look ahead, it is perhaps time to consider the next phase of the transformation campaign in pursuit of complete operational transformation as the end-goal.

Operations 152

Operations Analytics Tools Resources 152

PYMNTS

MAY 18, 2020

Japan-based credit card and payment firm JCB has announced a partnership with tech startup accelerator TECHFUND to explore the idea of a payment system with blockchain options, the company said on Friday (May 15). JCB, one of the biggest credit card operator in Japan, has also worked with blockchain before, partnering with U.S.-based

blockchain 287

blockchain System Payments cryptocurrency 287

Abrigo

APRIL 6, 2022

New Rule Outlines Computer-Security Incident Notification Obligations for Banks Financial institutions and their service providers should prepare to meet new computer-security notice requirements by May 1, 2022. . Computer-security incident notifications required. Expand and Clarify.

Security 195

Security Regulation District of Columbia United States 195

Cisco

OCTOBER 4, 2022

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. Sweeping in scope, the AIO guide is very detailed on guidance for different technologies.

Operations 118

Operations Software Risk Management Management 118

PYMNTS

AUGUST 11, 2020

Spreedly , which works in accelerating global commerce via a secure, flexible platform for any payment type, has announced Christopher Hudel as chief information security officer (CISO), according to a press release. He said the opportunity is a good one because of the numerous ways the company meets payments and security needs.

Security 221

Security North Carolina Leadership Meeting 221

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Source Code Analysis.

Compliance 332

Compliance Security Software System 332

PYMNTS

JANUARY 6, 2020

Regionally operated payment systems in Jamaica will consequently be regulated more closely. The bank explicated that FMIs are crucial to Jamaica’s financial system and the country’s broader economy, contributing to overall financial growth.

System 131

System Payments Regulation Security 131

PYMNTS

JULY 19, 2019

Online payment system Jollypay has received a license to operate in the United Arab Emirates (UAE), and it’s one of the first foreign companies to do so, according to a release. . In other UAE-related news, the First Abu Dhabi Bank recently rolled out a payroll card solution for the market via its Mercury payment operator unit.

Operations 139

Operations ATM System Cards 139

PYMNTS

JUNE 26, 2020

Introducing open banking principles has not been without friction, however, with banks and consumers concerned over how this sea change will affect FIs’ daily operations. Open banking’s nature fortunately provides superior data security to traditional banking models. Open Banking Prevents Data Exposure. In the U.K.,

System 198

System Data Security Examples 198

Perficient

NOVEMBER 14, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

Regulation 221

Regulation Exercises System Fraud 221

PYMNTS

NOVEMBER 16, 2020

The European Central Bank (ECB) has plans to independently investigate an incident that affected its TARGET2 real-time gross settlement system on Oct. It is owned and operated by the Eurosystem and allows bank submissions from central banks and commercial banks.

System 217

System Payments Operations Software 217

PYMNTS

JANUARY 27, 2021

Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously. Biometric-based methods’ effectiveness varies, but all provide better security than simple passwords.

Security 213

Security Innovation Fraud Study 213

PYMNTS

MARCH 24, 2020

They are places where we can put applications and connect devices,” Eva Apesteguia, director of security services customer strategy at Allot , told PYMNTS in a recent conversation. Because in a world with an increasing number of device types connecting to consumer home networks, those networks need securing now more than ever.

Security 249

Security Maine System Strategy 249

Cisco

JULY 26, 2022

According to McKinsey, fast organizations outperform others by a minimum of 2x on a range of outcomes, including operational resiliency, financial performance, and growth. Organizational agility is about looking for innovative ways to build resilience, protect revenue streams, streamline operations, and ensure employee engagement.

Security 173

Security Operations Data Leadership 173

PYMNTS

AUGUST 5, 2019

The move was described by Kansas Federal Reserve President Esther George as the biggest infrastructure upgrade embraced by the Federal Reserve since the ACH system went online in 1972. That stipulation is very important for the creation of the FedNow system.

System 212

System Payments Kansas Online 212

PYMNTS

JANUARY 17, 2020

Epic Systems is telling clients that it will not seek further Google Cloud integration and will instead focus on Microsoft Azure and Amazon Web Services (AWS), CNBC reported. The company decided to stop development with Google Cloud as it wasn’t experiencing enough interest among its health system clients to justify the investment.

Google 130

Google System St. Louis Data 130

Perficient

JUNE 1, 2022

So far in our 6-part blog series explaining the intricacies of TRACE, we have defined TRACE reporting, detailed the prep work to be done in order to effectively report TRACE transactions , and reviewed considerations for alternative trading systems. by programming systems to delay reporting until the end of the reporting period.

Report 294

Report Security Regulation System 294

PYMNTS

AUGUST 7, 2020

Recent data shows that thwarted attempts to get one security solution’s users to visit malicious, video game-themed websites rose 54 percent from January to April. It also examines how using biometric identification to build secure gaming platforms can deter malicious acts. . Why Online Gaming Appeals To Fraudsters .

Online 222

Online System Fraud Video 222

Abrigo

SEPTEMBER 23, 2024

Takeaway 3 Taking responsibility for the security of your own data includes report monitoring, exercising caution with links, and using strong passwords. Nearly 170 million individuals were impacted, and compromised data included Social Security numbers, names, email addresses, phone numbers, and mailing addresses.

National 195

National Data Fraud Security 195

BankUnderground

AUGUST 9, 2022

We argue that if an open and decentralised metaverse grows, existing risks from cryptoassets may scale to have systemic financial stability consequences. Types of cryptoasset include non-fungible tokens (NFTs), cryptocurrencies, utility and security tokens. The role of cryptoassets.

System 144

System blockchain cryptocurrency Lending 144

PYMNTS

OCTOBER 30, 2020

Slow compliance checks and sluggish processing times are commonplace, especially on the legacy systems still used by many banks around the world. The following Deep Dive explores the various hurdles that payments face as well as how automation and cloud-based systems can help FIs overcome them. consumer purchases made with cash.

Operations 228

Operations Payments Compliance System 228

PYMNTS

APRIL 22, 2019

Corporate payments still don’t have a clear role in driving the adoption of faster payment technologies and systems in the U.S. Those challenges include the costs of investing in and deploying faster payment systems, understanding and meeting the demand for these technologies, and navigating a shifting operational model of payments.

Operations 159

Operations Payments System Compliance 159

PYMNTS

MARCH 1, 2019

Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Cequence Security. Also operating in the enterprise security space is Cequence Security, based in California.

Security 189

Security Capital Analytics Software 189

PYMNTS

JANUARY 9, 2020

After raising $1b last November, the Noida-headquartered firm confirmed its business app now features a comprehensive QR code system operating on multiple platforms, accepting payments from diverse sources, including mobile wallets as well as any powered by UPI, a systems infrastructure widely utilized in the industry.

System 136

System Payments Conference Operations 136

PYMNTS

MAY 22, 2020

These numbers are expected to rise as the pandemic spreads because fraudsters see any disruptions to normal operations as opportunities. I got an email just recently that said that my Social Security number had been frozen and to click ‘this link’ to unfreeze it.”. Understanding the Scope of Financial Crimes.

Fraud 185

Fraud System Security Training 185

PYMNTS

NOVEMBER 23, 2020

Banks, merchants, issuers, processors — they’re all locked in combat with shadowy fraudsters that gain system access via phishing emails as easily as mice sneak into old houses. While technological advancements have revolutionized many aspects of operations, payroll and expense management are not [among] them. They could, and they are.

System 165

System Management Tools Cards 165

Perficient

JANUARY 20, 2021

DevOps is a set of practices dedicated to building, delivering, and operating rapidly-evolving systems in close alignment with business objectives. Collaboration between stakeholders, developers, testers, and operations. Code centralized and secure. Faster operations – peer-to-peer. Scalable/distributed workforce.

Software 309

Software Operations Tools System 309

Cisco

DECEMBER 1, 2020

Every year, Cisco conducts the Security Outcomes Study (SOS), a fully anonymous survey of over 4,800 active IT, security, and privacy professionals from around the world. This is reflected in the correlation of security practices to top risks, the importance of executive awareness, and the development of a firm-wide security culture.

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Study Security Maine Regional 99

PYMNTS

SEPTEMBER 2, 2020

Taking such steps can enable QSRs to streamline their operations and lead to significant sales gains, he noted. Haith said optimizing the QSR’s technologies with convenience in mind has been key to helping it streamline its operations. This customization makes it] difficult to manage inventory through our current POS system.”.

Operations 130

Operations Trends Denver Seattle 130

Payments Source

DECEMBER 12, 2016

Merchants should check operating systems, since the PC-based operating systems which run most legacy point of sale software have security flaws and are targets for malware.

System 60

System Security Software Operations 60

PYMNTS

APRIL 16, 2020

Businesses are doing their part by having employees work from home, but some companies are struggling to keep operations secure as opportunistic fraudsters aim to take advantage of the pandemic’s disruption. Bad actors are increasingly trying to exploit confusions as companies transition to remote operations.

Security 130

Security Fraud Tools Survey 130

Perficient

OCTOBER 24, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. Traditionally, trading was manual.

Regulation 221

Regulation Risk Management Compliance Fraud 221

Bank Innovation

FEBRUARY 16, 2018

An unknown hacker or hackers stole $6 million from a Russian bank in 2017 through the SWIFT international payments system, the Russian central bank said according a report by Reuters today. The Central Bank of Russia said that it had received information about “one successful attack on the work place of a SWIFT system operator” […].

System 239

System Payments Operations Report 239

Banking Exchange

OCTOBER 2, 2019

Proactive Threat Interference® provides protection not offered by other cybersecurity approaches Risk Management Risk Adjusted Technology Compliance Security Online Mobile Operational Risk Compliance Management Feature3 Feature Cyberfraud/ID Theft.

Security 60

Security System Risk Management Compliance 60

Perficient

NOVEMBER 6, 2024

Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.

Regulation 221

Regulation Compliance Analytics System 221

PYMNTS

APRIL 29, 2019

Bessemer System Federal Credit Union, a financial organization in Pennsylvania, is suing financial technology company Fiserv Solutions over what it calls rampant billing errors, significant bugs and “baffling” security lapses, according to reports. In its lawsuit, the credit union calls Fiserv products the “lifeblood” of its company.

Security 128

Security Pennsylvania System Financial Technology 128