Leaked documents appear to show NSA analysts were able to hack into Middle Eastern banks’ servers through the Swift service bureau EastNets. The same tools could conceivably be used by cybercriminals and nation-states with more sinister motives.
Banks are undergoing a digital transformation at the same time that hacker culture has taken off, escalating the security risks. Here is one strategy for protecting data where many banks need to improve.
The venture capital firms of Goldman Sachs and Citigroup, along with the fund backed by Google’s chairman, have invested in a firm that helps banks secure their cloud technology.
American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.
The long-running feud between banks and fintech companies over screen scraping is morphing into a more nuanced and important conversation about how to exchange consumers' financial data securely and fairly.
The deal points a way forward, not only to resolve the debate over screen scraping and ownership of customer data but to redefine banks' value proposition.
Customers of JPMorgan Chase will no longer have to surrender their bank credentials in order to use Intuit products like Mint, TurboTax or QuickBooks. o
