Cybersecurity protection for bank customers starts with awareness

The probability is high that a bank customer will at some point experience a cybersecurity incident. Above and beyond the financial and operational risk, cybercrime comes with substantial reputational risk for banks, as customers are far less likely to trust institutions whose products and services are frequent targets for breaches or hacks.While banks are ramping up their Read More

By |2020-05-27T18:16:23-05:00March 12th, 2020|Comments Off on Cybersecurity protection for bank customers starts with awareness

Banks need to shift their mindset to fight synthetic ID fraud

Economic growth is making credit more widely available for consumers to purchase cars and homes, as well as to invest in their future. It is also providing fraudsters a broader opportunity to implement innovative schemes, such as synthetic identity fraud.With an eye toward acquiring young borrowers with limited credit histories, yet potential for significant lifetime value to Read More

By |2020-05-27T18:16:24-05:00February 18th, 2020|Comments Off on Banks need to shift their mindset to fight synthetic ID fraud

Winning the ATM security arms race

Innovation not only takes place in product development shops: Criminals innovate, too. And when it comes to security, the arms race never ends. Illicit attempts to access money—whether via online or physical means—have only increased in prevalence.How do financial institutions successfully combat such threats?Today, ATMs resemble mini-branches more than ever before, and this new reality channel-wise means Read More

By |2020-05-27T18:16:26-05:00January 6th, 2020|Comments Off on Winning the ATM security arms race

Why strong security and authentication create more transactions

The new hot ticket in town is identity—and the battle for the customer, and their data, has begun. With the GAFAM tech giants (Google, Apple, Facebook, Amazon and Microsoft) entering the payments space, banks feel the very real threat of disintermediation. Those who fail to innovate will very quickly lose market share to fintech disruptors and challenger Read More

By |2020-05-27T17:58:17-05:00October 3rd, 2018|Comments Off on Why strong security and authentication create more transactions

Needles and PINs: From jackpotting to skimming, why ATMs are more vulnerable than ever

Five decades after they were first unveiled in Swinging London as marvels of secure, cash-dispensing convenience, automatic teller machines are more vulnerable than ever—thanks to a wide array of attacks that include skimming devices, malware, intercepted communications, outright theft of the machines—and a new technique known as “jackpotting.” To thieves who pull this latest type heist, the Read More

By |2020-05-27T17:58:40-05:00January 31st, 2018|Comments Off on Needles and PINs: From jackpotting to skimming, why ATMs are more vulnerable than ever

Strength in weakness: Why every bank needs a vulnerability disclosure program

Even with all the news surrounding epic data hacks—some affecting millions of users on a worldwide scale—the financial industry is missing a major opportunity to bolster the security of its services and keep hackers out of customer accounts and data. And to that end, banks and other financial institutions are slow to adopt an increasingly common best Read More

By |2020-05-27T17:59:36-05:00October 19th, 2017|Comments Off on Strength in weakness: Why every bank needs a vulnerability disclosure program

Forecast for the cloud: Five questions before you weather a security storm

Migrating to a cloud solution isn’t new, revolutionary or innovative. At this point, many enterprises do it for a variety of reasons—enhanced strategy, flexibility, productivity and cost-savings among them. When workloads move from onsite storage from an online cloud, such benefits soon manifest themselves. But if your institution is contemplating the cloud leap, it’s difficult to ignore Read More

By |2020-05-27T17:59:41-05:00July 18th, 2017|Comments Off on Forecast for the cloud: Five questions before you weather a security storm

The takeover bid banks hate: Identity takeover of consumer accounts

A New Jersey couple didn’t think much of the change-of-address card in their mailbox, even though they had no plans to move. And so began the unchecked delivery of bad news. A few weeks later, someone in the Miami area went on a three-hour spending spree with the victims’ debit card, ringing up thousands of dollars in Read More

By |2020-05-27T17:59:42-05:00July 5th, 2017|Comments Off on The takeover bid banks hate: Identity takeover of consumer accounts

The privacy and protection speech: Educating bank customers about voice biometrics

When callers reach a bank contact center, the first question on their minds is often, “OK, which question will they ask first?” Commonly referred to as knowledge-based authentication (KBA), these queries occur at the start of calls and you’ve no doubt heard them yourself: “What is your date of birth?” “What is your mother’s maiden name?” “What Read More

By |2020-05-27T17:59:43-05:00June 20th, 2017|Comments Off on The privacy and protection speech: Educating bank customers about voice biometrics

The battle cry after WannaCry: How to get past ransomware attacks

The WannaCry ransomware that just hit more than 150 nations serves as a sobering reminder of the damage cybercriminals can inflict. Apparently stolen from the National Security Agency, the malicious software shut down government computers from Brazil to Russia, along with hospitals and financial institutions worldwide. It took a 22-year-old British security researcher – puttering around on Read More

By |2020-05-27T17:59:45-05:00May 17th, 2017|Comments Off on The battle cry after WannaCry: How to get past ransomware attacks