Sometimes an idea is ahead of its time. Many of the most ambitious products in fintech were dismissed as absurd or over-ambitious at the time — only to feel perfectly normal years later as culture and consumer habits evolved.
It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry that it needs to end its reliance on static personal identifiers like Social Security numbers and birth dates.
JPMorgan CEO Dimon says banks are putting Silicon Valley to shame … in terms of diversity; Uber’s plan to replace its CEO with a woman seems to be sputtering; and Yellen’s potential successors also are all men.
The username and password are dying. Only biometrics can unify the age-old opposing forces of user experience and digital security in replacing an antiquated method.
Researchers continue to prove that they can beat biometrics. However, the authentication method is still far superior to knowledge-based questions so long as banks also deploy other standard security practices.
Hacker group Shadow Brokers says U.S. intel agency compromised parts of the global banking system; bank's directors gear up for tough election at annual meeting.
