Banks and financial service organizations are among the most highly targeted segments by cybercriminals, receiving an average of almost a thousand attacks daily targeted at web apps, according to a…
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Effective brand management by banks requires developing a good relationship with three important targets: market, customers, and the often-ignored employees, who could unintentionally or intentionally disrupt the whole marketing process….
As banks continue to source IT talent, banks need to understand the challenges of automation and security to find the candidates that are up to the task. Automation will not…
New Jersey warned credit unions, banks, mortgage lenders, loan originators, title insurers, title, real estate agents, and consumers about hackers trying to pocket mortgage funds during the home-buying process. “There…
As financial institutions strive to improve the customer mobile experience, keep employing analytics to reach out and touching customers, they should also ask, “Is my brand being creepy?” Facebook dominated…
Patience may be a virtue but not when it comes to banking. Nearly 40 percent of millennials deserted mobile banking activities because it took too long, according to a new…
Verizon’s Mobile Security Index found many organizations – including those in the financial services such as banks – overlook rudimentary mobile cybersecurity protections, leaving themselves and customers vulnerable to attacks….
A New York Fed study, “The Role of Technology in Mortgage Lending,” analyzed how the U.S. residential mortgage industry is experiencing a wave of technological innovation as both start-ups and…
The 2018 Identity Fraud Study released by San Francisco-based Javelin Strategy & Research, revealed that the number of identity fraud victims increased by eight percent (rising to 16.7 million U.S….
UserTesting studied why the top three largest U.S. banks, Bank of America, JPMorgan Chase, and Wells Fargo, have experienced a gradual decline in the growth of active mobile banking users….
Dealing with cash flow, payment collections and bad debt are among the weighty challenges for many U.S. small and medium-sized enterprises. Meanwhile, small business lending remains at the core of…
Regardless of huge investments, 80% of businesses struggle to encourage an innovative culture. However financial services now grades among the top three sectors for new innovation centers, according to a…
Subsequent to recommendations by the Federal Reserve’s Faster Payments Task Force earlier this year, the Fed outlined its next steps for modernizing the U.S. payments system. Noting substantial progress already…
Small businesses revealed cash flow as an overriding concern in a web-based survey from Boston-based Mercator Advisory Group’s regarding payment acceptance, B2B payments and banking services use and alternative lenders….
Americans with annual household income under $30,000 and a checking account pay an average of $31 per month in bank fees, according to a Bankrate.com and MONEY survey. That’s more…
The mobile revolution might be in full swing but 87% of banking and finance leaders reported abandoning an app due to poor performance, according to a study. The survey, “The…
Mastercard’s Early Detection System provides issuers with advanced alerts for cards and accounts at a heightened risk of fraudulent use based on exposure in security incidents, such as the Equifax…
Cash no longer is king. But, that is no secret as the digitization of the 21st century greatly influences how payment takes place today. More than 40% of payments, for…
The mobile banking market is saturated, new app growth has slowed, business mobile has failed to grow as expected; P2P growth is low, and debit card controls are gaining popularity….
The usage of AI and its subset machine learning is a rising trend among financial institutions as they seek to improve customer satisfaction, reduce inefficiencies and fight fraud. AI runs…
As the development of self-service interactions matures, instant card issuance gives banking customers a real purpose for visiting their financial institutions, which can then deliver securely-activated cards directly into their…
Global financial technology adoption has surged in the past 18 months, and not just among millennials, positioning fintech to enter the mainstream, according to the latest EY Fintech Adoption Index….
Almost 80% of merchants actively support the mobile channel overall with credit and debit cards the preferred payment method while mobile wallets are still slow to adopt. Boise, Idaho-based fraud-detection…
Financial institutions operations continue to experience cyberattacks either directly or indirectly. The second credit-card breach in three years at Kmart has once again forced financial institutions, to deal with the…
Worldwide card purchase volume for goods and services grew 5.8 percent to over $20.6 trillion in 2016, according to the Nilson Report. This excluded cash advances on credit cards and…
Thousands of American companies including banks that do business with European customers need to reckon with EU’s General Data Protection Regulation, which goes into full effect a year from now….
MasterCard unveiled a payment card combining chip technology with biometrics to verify the cardholder’s identity for in-store purchases. South Africa served as a test market for two separate successful trials…
Many financial organizations risk falling behind as technology continues to transform financial services and transactions. Financial institutions are at a tremendous risk from disruption but some are moving to embrace…
An executive order from President Donald Trump could scale back the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The vast piece of financial reform legislation passed as a…
What has passed for money, as a medium of exchange, has evolved through the millennia. Back in the day, exchanging sheep for coal required dragging sheep or coal around with…
Self-service, available for a long time at retail locations such as grocery stores, gas stations, and financial institutions, nowadays provides more virtually-assisted capabilities, through interactive teller machines and mobile, than…
Nine out of 10 Americans use chip cards at about a third of U.S. locations enabled to accept chip payments. In its winter 2017 market snapshot, the Princeton Junction, N.J.-based…
Summary from webinar Design Thinking for Bank Executives presented by Tery Spataro for Western Independent Bankers, February 7, 2017. There’s a lot of discussion on the use of design thinking…
A feeble worldwide economy, digitization, and regulation could significantly lessen profits for the worldwide banking business over the next three years, according to McKinsey and Company. Some $90 billion, or…
The Federal Reserve Payments Study 2016, the sixth in a series of triennial studies to estimate aggregate trends in non-cash payments in the United States, contains an early look at…
