Weekly Infobyte: How Do Banks Authenticate Digital Transactions?
Everyone uses a username and password; large shares use out-of-band authentication and challenge questions.
Browsing: Technology
FTC Report Outlines Legal Risks, Benefits of ‘Big Data’
A new report from the Federal Trade Commission outlines several risks related to discrimination for companies using “big data” to make decisions about credit, employment and marketing.
Report: Mobile Banking Users Outpace Branch Customers in 2015
Three in 10 bank customers used mobile banking on a weekly basis in 2015, exceeding for the first time the 24 percent who visit branches weekly, according to a new report from Javelin.
ABA Files Brief Challenging FCC Interpretations
ABA filed a friend of the court brief yesterday in an appeal of the Federal Communications Commission’s recent order regarding the Telephone Consumer Protection Act.
ABA Facilitates Mobile Alerts by Wireless Carrier
ABA recently worked with Verizon Communications, Inc. to ensure that banks would be able to send data breach notifications, suspicious activity alerts, and other time-sensitive messages to their customers over Verizon’s network, without the bank having first to obtain the prior express consent of the customer. In July, the Federal Communications Commission released an order
Nine State Attorneys General Push for PIN Technology
A small group of state attorneys general sent a letter to the executives of major card companies on Monday urging them to implement chip-and-PIN technology in credit and debit cards, arguing that it would offer greater protection from fraud. However, the letter — signed by nine AGs — acknowledges that a PIN-based system could not
Weekly Infobyte: Mobile Payments Are Slow to Catch On
For those who use mobile payments, PayPal and Apple Pay are top choices.
ABA Launches Grassroots Text Alerts
At ABA’s Annual Convention yesterday, incoming ABA President and CEO Rob Nichols unveiled ABA’s new grassroots text alerts, which allow ABA members to get updates and action opportunities on regulatory relief directly on their mobile phones.
ABA Endorses Banker Office for Business Valuation, Performance
ABA, through its Corporation for American Banking subsidiary, has endorsed BizEquity’s Banker Office, a business valuation platform and performance service.
Big Data and Predictive Analytics: A Big Deal, Indeed
Despite sluggish adoption of the technology, it is increasingly necessary to ward off competitors, get ahead of regulators and engage customers.