An ex-regulator’s stern warning about the risks of sharing consumer information with fintechs has prompted debate over common security standards for banks and nonbanks, better data tracking and new liability insurance products.
With millions of Alexa and Google Home devices now in use, first-mover banks are rapidly developing services to let customers control their finances using only their voice — even if there are still many kinks to work out.
One estimate says 3.5 million cybersecurity jobs will go unfilled by 2021. Banks are looking to military veterans, universities and even high schools to help fill the gap.
Borrowing from the startup world and some popular TV shows, Citigroup is encouraging employees to pitch innovative ideas to a panel of senior execs who could give them the green light to start work.
