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Tech Talk: ATM attacks, fraud prevention, progressive vs. traditional banks, and more!

  • Manual processes hinder growth
  • Avoid a one-size-fits-nobody digital approach
  • 'Death by a thousand FinTech cuts'
  • Progressive vs traditional banks’ digital progress
  • Preventing digital fraud with AML
  • Fraud prevention at banks with AI and ML
  • “Chain Gang” destructive attacks on ATMs
  • Accelerating the path to cashless societies
  • What's on the horizon for ATMs?
  • Spam, Scams & Breaches
  • Updates, Patches & Alerts
  • and on the lighter side...

Manual processes hinder growth
There are many high-profile examples of financial firms losing millions, and sometimes billions, of dollars as a result of flawed manual processes, further emphasizing the need for establishing user-driven data control and automation. FinTech Futures has the details.

Move away from a one-size-fits nobody digital approach
Banks must embrace a human-centric approach, offering a wider range of services that meet customer needs – or risk losing those relationships to challengers. Finextra has the details.

'Death by a thousand FinTech cuts'
Big banks have a big problem in the form of encroaching FinTechs looking to cut into their massive consumer bases with specialized services and new efficiencies targeted at the underserved consumer, a group that is much larger than many realize. PYMNTS.com has the details.

Progressive vs traditional banks’ digital progress post Covid-19
Providing a view into the status of financial institutions digital transformation across the US, tech consultancy CCG’s recent survey ‘The Banking Battleground: Views From the C-Suite’ considers the attitudes and capabilities of banks toward digital in a post-pandemic world. Using a set of criteria the report split respondents into two groups, traditional and progressive, and analyzed how the different groups approach the market and positions themselves for the future across four areas. Finextra has the details.

Preventing digital fraud with AML
Threats of digital financial fraud and business money laundering are becoming deadlier for institutions. Look at how implementing innovative AML technologies and solutions such as watchlist screening can help FIs and businesses protect against these and other financial crimes while keeping up with ever-changing regulatory requirements. PYMNTS.com has the details.

Fraud prevention at banks with AI and ML
Cybersecurity is of the utmost concern for financial institutions (FIs) of all types. One survey found that 47 percent of businesses around the world have reported being victimized by digital crime within the past two years, with losses totaling $42 billion. What can you do? PYMNTS.com has the details.

“Chain Gang” destructive attacks on ATMs
Last summer, financial institutions throughout Texas started reporting a sudden increase in attacks involving well-orchestrated teams that would show up at night, use stolen trucks and heavy chains to rip Automated Teller Machines (ATMs) out of their foundations, and make off with the cash boxes inside. It's become a trend. Krebs on Security has the details.

Mobile wallets are accelerating the path to cashless societies
Back in 2019, mobile wallets overtook credit cards to become the most widely used payment type globally and the report reveals that the Coronavirus pandemic has only accelerated adoption further. The Fintech Times has the details.

What's on the horizon for the ATM world?
ATMs went through a challenging year in 2020, but as the industry comes out of the pandemic, a question emerges: What's on the horizon? ATM Marketplace has the details.

Spams, Scams, and Breaches

Updates, Patches, and Alerts...

See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

And on the lighter side...

Apple has had a pretty good run, but that doesn't mean t5hat every product is a hit. Let's take a look back. The MacBook Wheel

First published on 07/16/2021

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