Tech Talk: BaaS, PaaS, SNPL, and more!
- Resisting refunds for unauthorized Zelle payments
- BaaS: Embedded finance for FIs
- Is SNBL more sustainable than BNPL?
- Fintechs and banks should collaborate
- Banks can incorporate a digital‑only strategy
- PaaS: a new technological approach
- The thought behind Composable Banking
- FIs must double down on open source
- An open finance model for the world
- Spam, Scams & Breaches
- Updates, Patches & Alerts
- and on the lighter side...
Resisting refunds for unauthorized Zelle payments
Regulation E, the report noted, makes it so banks have to make clients whole if their money is stolen via an electronic payment another person has initiated. However, this was written before payment apps existed. PYMNTS.com has the details.
BaaS: Embedded finance for FIs
Chris Dean, co-founder and CEO of Treasury Prime, told Karen Webster that banking as a service can advance financial services in the U.S. to a level that meets and exceeds other nations. PYMNTS.com has the details.
Is SNBL more sustainable than BNPL?
In response to BNPL, there is a countermovement called "Save Now Buy Later" (SNBL). This movement aims to provide the same user-friendly embedded (payment) experience as BNPL, but without pushing people into credit. Finextra has the details.
Fintechs and banks should collaborate
Rather than competing, fintechs and traditional banks might possibly create more value by working together. Finextra has the details.
Banks can incorporate a digital‑only strategy
People have changed the way they make decisions about their banking relationships. Ten years ago, for example, someone choosing a bank would more than likely select the one with the branch closest to their home or office. But with bank branch visits declining, people will likely want different things from their bank a decade from now. Banking Dive has the details.
PaaS: a new technological approach
Amid growing concerns about security, fraud, and regulatory change, PaaS providers are helping banks and businesses address these issues and decrease payment infrastructure costs by as much as 70%. Finextra has the details.
The thought behind Composable Banking
Sue Laws, SVP, BSG, Americas, Temenos, speaks at TCF 2022 about banking trends in the US, how customer demands driving trends like embedded finance and buy-now-pay-later, the importance of digital transformation and how US banks should approach IT modernization. Finextra has the details.
FIs must double down on open source
While the financial services sector has hardened its cyber defenses compared with other industries and become one of the earliest adopters of zero-trust security, institutions must continue to embrace open source technology while actively engaging in risk mitigation. Dark Reading has the details.
An open finance model for the world
A platform approach has evolved, where a centralized API provider enables interconnectivity between financial institutions and third-party providers (TPPs) to create open finance on a national or regional basis. Finextra has the details.
Spams, Scams, and Breaches
- Dark Reading: China-Linked ToddyCat APT Pioneers Novel Spyware
- Help Net Security: Automotive hose manufacturer hit by ransomware, shuts down production control system
- Dark Reading: Organizations Battling Phishing Malware, Viruses the Most
- TechRepublic: Targeted voicemail phishing attacks hits specific US industries’ verticals
- CNET: Social Security Numbers Stolen in Flagstar Bank Data Breach
- Threatpost: Office 365 Config Loophole Opens OneDrive, SharePoint Data to Ransomware Attack
- TechRepublic: New Android banking malware disguises as crypto app to spread
- Dark Reading: Capital One Attacker Exploited Misconfigured AWS Databases
- Help Net Security: Fraud trends and scam tactics consumers should be aware of
- Dark Reading: Ransomware and Phishing Remain IT's Biggest Concerns
- TechRepublic: 2022 Dark Web prices for cybercriminals services
- Dark Reading: Atlassian Confluence Server Bug Under Active Attack to Distribute Ransomware
- SecurityWeek.Com: Breach at Eye Care Software Vendor Hits Millions of Patients
- Dark Reading: Credential Sharing as a Service: The Hidden Risk of Low-Code/No-Code
Updates, Patches, and Alerts...
- US-CERT: Current Activity
- SecurityWeek.Com: Top Cryptographers Flag 'Devastating' Flaws in MEGA Cloud Storage
- Threatpost: Fancy Bear Uses Nuke Threat Lure to Exploit 1-Click Bug
- SecurityWeek.Com: ICS Vendors Respond to OT:Icefall Vulnerabilities Impacting Critical Infrastructure
- Threatpost: Discovery of 56 OT Device Flaws Blamed on Lackluster Security Culture
- SecurityWeek.Com: SMA Technologies Patches Critical Security Issue in Workload Automation Solution
- Help Net Security: Criminal IP analysis report on zero-day vulnerability in Atlassian Confluence
- SecurityWeek.Com: Details of Twice-Patched Windows RDP Vulnerability Disclosed
- Dark Reading: WordPress Plug-in Ninja Forms Issues Update for Critical Bug
- SecurityWeek.Com: Apple, Android Phones Targeted by Italian Spyware: Google
- Computerworld: Microsoft delivers solid Windows-focused updates for June's Patch Tuesday
- SecurityWeek.Com: AutomationDirect Patches Vulnerabilities in PLC, HMI Products
- Dark Reading: 56 Vulnerabilities Discovered in OT Products From 10 Different Vendors
- SecurityWeek.Com: Google Patches 14 Vulnerabilities With Release of Chrome 103
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...
Here's a video highlighting some Amazing Physics Toys
First published on 06/24/2022