Scanning a thumbprint to access your bank account seems completely safe, right? Well, a notorious German hacker names Jan Krisller – a.k.a. Starbug – demonstrated how easy it is to duplicate a fingerprint or even an iris, using a high-res photo. He used Angela Merkel’s photo. Other hacks have foiled fingerprintRead More
Post Tagged with: "Security"
As we know, two of the most prized traits of blockchain technology, specifically when one is talking about the bitcoin blockchain, are its anonymity and its immutability. Unfortunately, those traits also lead to a fair amount of fraud; which is why Terbium Labs, a “dark web intelligence provider,” has teamedRead More
It’s that time of year again! Today, FinovateFall debuted in New York, where 39 fintech companies debuted their newest toys to a fintech-hungry audience. The technology presented ranged from the latest in biometrics, including voice and facial recognition, the latest in how to create insights for big data use–and more importantly,Read More
How Chinese spies hacked into computers at the Federal Deposit Insurance Corporation from 2010 until 2013 — and American government officials tried to cover it up.
After the Paris attacks, EU countries pledged to come together to reform data protection. The move was driven by concern over anonymous users of financial services. Simply put, more data is needed to keep the EU safe, according to a press release from the European Commission, the Brussels-based executive body for the EuropeanRead More
Google today relaunched its Google Ideas think tank as Jigsaw, a technology incubator, and the new venture has several projects aimed squarely at some of banking’s thorniest issues. Officially, Jigsaw’s “mission is to use technology to tackle the toughest geopolitical challenges.” But several of those “challenges” confound financial services. For example, ProjectRead More
For Apple, privacy means not even securing data, but abstinence from it. What about the rest of the fintech world?
In a sense, things have never looked brighter for mobile banking. Apple’s announcement of Apple Pay is a huge step forward for mobile payments at the point of sale. But problems threaten.
Apple isn’t the only company to suffer a security breach in the last few days. You may have noticed some garbled posts employing broken English and offering for sale Louis Vuitton handbags and Christian Louboutin shoes on our site earlier today. Those posts were not from Bank Innovation.
The Federal Reserve is planning to update the existing payments infrastructure, but face several limitations.