Security

Say Hello to Our Spring 2016 Class of Startups

Say Hello to Our Spring 2016 Class of Startups

by April 28, 2016 at 11:00 am 0 comments

Bank Innovation INV, this blog’s fintech accelerator, is pleased to today to announce the six extraordinary startups that have been admitted to its inaugural class. The companies selected from applications received from startups around the world are: CrossCues Dyme GoldBean Hermetic Security Spare We Are Briqs The companies, chosen after aRead More

Distributed Ledgers Not Ready For Prime Time, SWIFT Says

Distributed Ledgers Not Ready For Prime Time, SWIFT Says

by April 21, 2016 at 2:41 pm 0 comments

“Blockchain.” That’s an abbreviated summary of the conversation in fintech for approximately the last six months. Or, as Jack Gavigan put it, less succinctly, on Twitter: Blockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchainblockchain — Jack Gavigan (@JackGavigan) April 20, 2016 We now say “distributed ledger,” which is a slightly broader term rather than a synonym (and whichRead More

Fighting Fraud with… Fake Fraud?

Fighting Fraud with… Fake Fraud?

by April 20, 2016 at 10:32 am 1 comment

The most vulnerable point in a bank’s network today might just be Bill over in marketing — or any employee. Humans are by nature vulnerable to social engineering and may discuss where they work on social media — LinkedIn is a treasure trove for would-be bank hackers. A common attack against aRead More

Three Quarters of a Billion Records Breached

Three Quarters of a Billion Records Breached

by April 20, 2016 at 10:25 am 1 comment

Last year, says the security firm Gemalto, over 700 million records were breached. Or, to put it another way, this translates to two million stolen or lost records every day. 2015 Breach Level Report 1,673 hacking incidents 398 were triggered from the inside of the attacked company: employees and evenRead More

NICE-Actimize Introduces Cloud-based AML Compliance Tool

NICE-Actimize Introduces Cloud-based AML Compliance Tool

by April 18, 2016 at 12:27 pm 0 comments

‘Cloud’ used to be a scary word in banking — but as the services offered by Amazon, IBM and others grow more sophisticated, both bankers and regulators are learning to love the cloud. Banks have generally been reluctant to move important information from in-house environments to the cloud, but that couldRead More

Can CBANC Crack the Bank Social Media Riddle?

Can CBANC Crack the Bank Social Media Riddle?

by April 13, 2016 at 11:14 am 0 comments

In the age of ubiquitous mobile devices and 1.5 billion Facebook users (give or take a few million), it’s clear banks can’t keep their employees from social media. That opens bank systems to attacks via phishing and social engineering. But social media can also be useful for networking and tappingRead More

Security Trumps Convenience for Online Shoppers, Study Finds

Security Trumps Convenience for Online Shoppers, Study Finds

by April 7, 2016 at 12:16 pm 0 comments

Online retailers prize a smooth checkout and one-click checkouts, but it turns out customers care more about security than convenience when shopping online. (We’ll leave aside Domino’s Pizza’s “zero-click ordering for now.) Nearly half of e-commerce consumers — 48% — want more assurance that their transactions are secure, while only 20%Read More

Fintech’s Power Grab — in The New York Times

Fintech’s Power Grab — in The New York Times

by April 7, 2016 at 12:11 pm 0 comments

Ok, it’s safe to say fintech has hit the big time. The New York Times covered the subject — and the word — in depth yesterday, in a special section called “Fintech’s Power Grab.” The lead item, by Andrew Ross Sorkin of CNBC fame, focuses on the fintech challenge toRead More

R3CEV Unveils Corda, Its Distributed Ledger Product

R3CEV Unveils Corda, Its Distributed Ledger Product

by April 6, 2016 at 12:22 pm 0 comments

The hits keep coming for virtual currency consultancy R3CEV. Once derided as a blockchain support group for the consortium of financial institutions it amassed, R3CEV said repeatedly it wanted to build products. Today, it unveiled one at Money20/20 in Copenhagen: Corda, a distributed ledger for financial services companies. The New York-based company alsoRead More

Navy Federal Credit Union Joins Bank Innovation INV

Navy Federal Credit Union Joins Bank Innovation INV

by April 5, 2016 at 4:49 pm 1 comment

Bank Innovation INV today announces the addition of Navy Federal Credit Union as a member of Bank Innovation INV, the revolutionary fintech accelerator. INV, which was launched in January, is the first non-geographically specific fintech accelerator open to startups from anywhere in the world. Navy Federal joins Fiserv, Bank Innovation, U.S.Read More

Who Are You? Fintech Developers Tackle the Identity Issue

Who Are You? Fintech Developers Tackle the Identity Issue

by April 1, 2016 at 12:57 pm 2 comments

As more of our financial activities shift to the digital space, quickly and securely authenticating users’ identities may be the most pressing topic in banking. This was clear from Day 2 of FinDEVr, Finovate’s code-heavy spinoff conference for developers, which took place last Wednesday in New York. Five presenters focused on authenticating users and securing mobile appsRead More

Read My Lips (and Listen to My Voice) — Biometrics Goes Bimodal

Read My Lips (and Listen to My Voice) — Biometrics Goes Bimodal

by March 31, 2016 at 12:02 pm 1 comment

A Russian company wants to move users out of the password era with a combination of voice and facial recognition. SpeechPro, based in St. Petersburg, Russia, introduced its new authentication technology yesterday at FinDEVr in New York. Text-dependent systems like passwords are familiar and generally reliable, since they can be memorized and keptRead More