PrivatBank has launched a new system that allows users to securely change their PIN codes online, a measure that will help protect customers from card-related fraud. The system will also …
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Addressing cybersecurity in financial institution-FinTech partnerships
Partnerships between financial institutions and FinTechs must go beyond the customer value proposition and provide embedded cybersecurity at all stages of the customer journey. Open APIs present an incredible opportunity …
Read More »Cyber-attacks underscore need for better cybersecurity measures
Financial institutions take many measures to eliminate vulnerabilities, but the fact is everything can be hacked. Last year, for example, more than 70 million cyber-attacks were committed on financial objects …
Read More »Low uptake of email authentication by financial institutions
The Global Cyber Alliance (GCA), a cybersecurity nonprofit, has announced that only 11 of the top 50 U.S. financial institutions and 9 of the top 50 European financial institutions are …
Read More »Sberbank names unsafe regions for using bank cards
Sberbank has determined that countries in the Asia-Pacific region and the Americas are the most common locations where Russian consumers are falling prey to fraudsters using tactics to get their …
Read More »Video: how Israel is ruling the cybersecurity world
Ben Ferguson travels to Tel Aviv to find out how Israel has become one of the world’s premier cyber superpowers. Infographic: fostering a learning culture in 2019 BFC FinTech Monitor …
Read More »Southeast Asian nations agree to strengthen cybersecurity
Southeast Asian nations have agreed to adopt cybersecurity rules following major data breaches in the region. Ministers in the 10-member Association of Southeast Asian Nations have agreed to 11 voluntary, …
Read More »Germany forms cybersecurity agency
The government of Germany has formed a cybersecurity innovation agency. The agency, set to begin work in early 2019, will be tasked with researching highly-innovative security projects as well as …
Read More »Russia creates state agency to combat cyber threats
Russia’s Federal Security Service has created the National Computer Incident Coordination Center to combat cyber threats against the country, especially its “critical infrastructure”. The Center will charge with: detecting, preventing and …
Read More »New data privacy regulations changing “business as usual”
The digital economy is lucrative yet highly-vulnerable, with cybercriminals relentlessly hunting for vulnerabilities and security gaps. This has led to a flurry of recent data breach incidents giving rise to …
Read More »China’s microchip infiltration of U.S. computers
As part of a technological due diligence by Amazon when evaluating a potential acquisition, it was found that many motherboards assembled by Super Micro Computer Inc. (SuperMicro) for Elemental Technologies …
Read More »How FinTechs are reshaping development
The fusion of technology and the financial world is no longer limited to improving banking experiences as many new FinTech startups are using technology to create a brighter future in …
Read More »Finland using blockchain technology to help refugees
The Immigration Service of Finland has begun providing refugees with prepaid Mastercards rather than cash, allowing refugees to enter the blockchain-based system of unique digital identification information. This serves to …
Read More »Blockchain technology can rewrite the mortgage process in Russia
The Russian economy is moving into a new period of low interest rates, with mortgage rates dropping below 10% and expected to reach below 8% by 2024. Such low interest …
Read More »Denmark to use a cryptocurrency to help developing countries
Denmark is planning to use a cryptocurrency to provide humanitarian assistance, the first such instance of a donor state using blockchain technology for humanitarian efforts. To this end, a report …
Read More »Kenyan group in talks with Ethiopian banks on mobile payments
Equity Group Holdings Ltd.’s FinTech Unit is in discussions with six Ethiopian banks to collaborate on cross-border mobile payments and e-commerce. The company, acting via its wholly-owned subsidiary Finserve Africa …
Read More »Arab Financial Inclusion Prize encouraging FinTech to help the unbanked
Although there have been many exciting advancements to further financial inclusion in the Arab world in the last 15-20 years, 60% of the adult population in the region’s developing countries …
Read More »Five countries getting rid of cash
Many countries are switching to a digital economy as a way to better fight shadow businesses and crime, increase control over flows of money and reduce the responsibilities that come …
Read More »How MyBucks is increasing financial inclusion among Africa’s unbanked
There is a large unbanked population in Africa that does not use formal banks or semiformal microfinance institutions. This has provided an opportunity for MyBucks to step in and fill …
Read More »FinTech is making financing more accessible
Investments in underfunded space, especially for SME lending, are important for increasing financial inclusion. And managing director of Creditease’s FinTech Value Chain Fund, Anju Patwardhan, understands this. For that reason, …
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