Tech Talk: APP fraud, CaaS, near-instant payments, and more!
- Trustly debuts near-instant payments
- BaaS alters the roles of banks and fintechs
- PayPal rolls out single-platform banking app
- The banking industry cybersecurity threat
- CaaS: Leap of faith?
- Consumer lending tech for banks
- Four tech-driven forces threaten banks
- Personalizing services for digital banking
- APP fraud losses overtake card crime
- Spam, Scams & Breaches
- Updates, Patches & Alerts
- and on the lighter side...
Trustly debuts near-instant payments
In collaboration with Cross River Bank, the company’s platform enables various U.S. businesses – including trading companies, insurance companies, sports betting platforms and retailers – to offer their U.S. customers near-instant payments to their bank accounts. PYMNTS.com has the details.
BaaS alters the roles of banks and fintechs
Despite its somewhat confusing and evolving definition, there is no question that Banking-as-a-Service is here to stay and opportunities abound for banks, fintechs and non-financial companies alike. The Financial Brand has the details.
PayPal rolls out single-platform banking app
PayPal is launching a super app that offers consumers an all-in-one platform to manage personal finances, including early-access direct deposit, high-yield savings, shopping tools, bill payments, rewards and more. PYMNTS.com has the details.
The banking industry cybersecurity threat
Working from home poses new threats to financial institutions as cybersecurity and digital transformation go hand in hand. With businesses undergoing rapid digital transformation, security needs to be simultaneously reinvented, especially when handling sensitive information or user data, which become prime targets for cybercriminals. ATM Marketplace has the details.
CaaS: Leap of faith?
Many banks are now looking enviously at other sectors that have successfully adopted a software as a service (SaaS) model where the software is deployed on the service provider’s side, and the client accesses it through a web browser or similar secure portal. Could this work in a Compliance as a Service model? The Fintech Times has the details.
Consumer lending tech for banks
Acuity announced the launch of its retail lending services to support commercial and retail banks in the loan origination, processing, underwriting, closing and post-closing space. Finextra has the details.
Four tech-driven forces threaten banks
As the migration to digital services accelerates, a report from Moody’s Investors Service seriously suggests that four forces could determine how much time traditional financial institutions have left. The Financial Brand has the details.
Personalizing services for digital banking
Research shows consumers are craving a level of personalization in their banking that signals unmet needs, and the share of customers who say they trust their banks has dropped sharply from only two years ago. This may indicate where the digital channel is failing some consumers by overlooking the human touch. PYMNTS.com has the details.
APP fraud losses overtake card crime
In previous years the largest fraud losses have been unauthorized frauds mainly committed using payment cards. This year, however, criminals focused their activity on APP fraud, in which a customer is tricked into authorizing a payment to an account controlled by a criminal. Finextra has the details.
Spams, Scams, and Breaches
- SecurityWeek.Com: UK Minister Sorry Over Afghan Interpreters’ Data Breach
- TechRepublic: Ransomware detections dropped by almost half, but the threat is only getting worse, says Trend Micro
- CISA: Conti Ransomware
- TechRepublic: How phishing-as-a-service operations pose a threat to organizations
- Threatpost: Microsoft MSHTML Flaw Exploited by Ryuk Ransomware Gang
- Help Net Security: Ransomware still a primary threat as cybercriminals evolve tactics
- Threatpost: Epik Confirms Hack, Gigabytes of Data on Offer
- SecurityWeek.Com: Cyberattack on Alaska Health Department Linked to State-Sponsored Hackers
- Threatpost: Hackers Are Going 'Deep-Sea Phishing,' So What Can You Do About It?
- Help Net Security: US agricultural co-op hit by ransomware, expects food supply chain disruption
- Threatpost: Large-Scale Phishing-as-a-Service Operation Exposed
Updates, Patches, and Alerts...
- US-CERT: Current Activity
- SecurityWeek.Com: Many Hikvision Cameras Exposed to Attacks Due to Critical Vulnerability
- Naked Security: VMware patch bulletin warns: “This needs your immediate attention.”
- SecurityWeek.Com: Attacks on Russian Government Orgs Exploit Recent Microsoft Office Zero-Day
- Threatpost: Unpatched Apple Zero-Day Allows Code Execution
- SecurityWeek.Com: Cisco Patches Critical Vulnerabilities in IOS XE Software
- SecurityWeek.Com: Mirai Botnet Starts Exploiting OMIGOD Flaw as Microsoft Issues More Guidance
- Computerworld: Legacy apps are at risk with the September Patch Tuesday update
- TechRepublic: Recently reported Microsoft zero-day gaining popularity with attackers, Kaspersky says
- Computerworld: A penchant for patching: After 20 years, the system’s still a mess
- SecurityWeek.Com: OpenOffice Vulnerability Exposes Users to Code Execution Attacks
- Help Net Security: The complexities of vulnerability remediation and proactive patching
- SecurityWeek.Com: VMware vCenter Servers in Hacker Crosshairs After Disclosure of New Flaw
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...
While there are many different types of printers, some things are true of Every Printer Ever.
First published on 09/24/2021