Visual hacking has emerged as a dangerously straightforward way to pierce banks' complex security systems. Here's how banks can ward off malevolent shoulder-surfers.
Visual hacking has emerged as a dangerously straightforward way to pierce banks' complex security systems. Here's how banks can ward off malevolent shoulder-surfers.
The Financial Crimes Enforcement Network's enforcement action against Ripple Labs sent a clear message to the cryptocurrency industry about regulators' high expectations for compliance. Such actions will help clear the way for banks to partner with blockchain technology firms down the line.
FIS and merger partner SunGard, along with all other vendors in the space, have not been able to come to market with innovative core systems or software platforms that adequately address the new digital paradigm banks face.
Blockchain technology may soon make the high fees, lengthy transaction times and opacity that have plagued legacy cross-border payments a thing of the past.
Payment system transformation has become a pressing need for banks today. The rate at which this is happening is largely controlled by the conflict between rapid technological shifts and the barriers to product acceptance.
Financial institutions take information security concerns very seriously, but few make it a priority to keep accountholders updated on their safeguarding efforts.
In the years ahead, look for projects that leverage the Bitcoin network to greatly expand mainstream banking infrastructure's reach into new markets Â-- particularly those in volatile economies.
In order for the financial services industry to achieve its full potential in the digital age, Silicon Valley must work together with banks and lawmakers to build technology that can modernize banking infrastructure while addressing regulatory and cybersecurity challenges.
