Payments News

On The Web

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Reports

2019 Thales Data Threat Report Financial Services Edition

““Data security, starting with encryption and access management, is an important part of the mix. As data migrates away from the enterprise premises and to the cloud, network security is no longer sufficient to protect data. Financial services need new data security methods to protect precious data everywhere in today’s digital IT landscape.” – Frank […]
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Security

CULedger Completes Blockchain Identity Pilot With Three US Credit Unions

“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds […]
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Security

India’s About to Hand People Data Americans Can Only Dream Of

“India has more than 560 million internet users, all generating data by the terabyte. Soon they’ll have an unprecedented amount of control over their digital financial footprints, with the ability to decide what to share, with whom, and for how long. India’s top banks are getting ready to roll out a system that gives consumers […]
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Security

JPMorgan to Ban Third-party Fintech Platforms From Accessing Customer Passwords

“JPMorgan Chase is to enforce stricter security measures, banning third-party fintech apps from accessing customer passwords. The existing method of data sharing provides — with permission — numerous apps with access to customers’ bank accounts, but concerns have been voiced about the possible dangers. No timetable has been set out, but the American finance giant […]
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Security

Fingerprint ID Dominates Authentication, But Facial Recognition Is Growing Fast

“With payments fraud growing every year, the pressure is on in markets worldwide to adopt more sophisticated technology to verify the identity of mobile users. Against that backdrop, the winning technology is fingerprint recognition, with facial-recognition systems presenting a fast-growing alternative, according to the latest study from United Kingdom-based Juniper Research. Driving much of the […]

On The Wires

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Security

Mastercard Brings Digital Identity to Real World Tests

“The pilot program will test a new way for people to prove their identity without having to carry multiple documents. Instead, the model allows the data to sit with its rightful owner – the user. It will activate a distributed model that blends information stored on an individual’s mobile device and verified by additional reference […]
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