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Banking industry news stories - Page 2

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Cybersecurity
Black Friday fraud: Who foots the bill?
“Given the incredibly high volume of transactions over the coming weekend, and indeed the whole festive period, often merchants will accept that fraud will be higher than usual."
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Phishing
ANZ Bank warns businesses and customers of phishing scam
"This sole purpose of this elaborate phishing scam is to harvest the login credentials of ANZ customers so the criminals behind this scam can break into their bank accounts."
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Financial institutions
The rise of the Neobanks: How they challenge traditional banking
Neobanks are catering to customers who are tired of the big banks and those who seek alternatives, says financial advisory firm Mozo.
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Cybersecurity
Australian banking and securities IT spend to reach $18.5 billion
“The banking and securities industry continues to spend in pursuit of digitalisation, whether through digital business optimisation or transformation."
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Digital Transformation
Only 17% of banks have deployed digital at scale – report
The joint report by Infosys Finacle and Efma explores the evolution of digital transformation and how banks have adopted and scaled it throughout their organisations.
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Artificial Intelligence
Australian fintech uses AI to disrupt banking industry
An Australian fintech firm called Moula is changing the way small business lending works, all through the use of artificial intelligence.
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Digital Transformation
SaaS banking engine Mambu gains 'Challenger' spot in Gartner MQ
Software  as a service (SaaS) banking engine Mambu has been positioned as a challenger in Gartner’s 2019 Magic Quadrant for Global Retail Core Banking.
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Forrester Research
Forrester report: Digital banks gain the edge on traditional players
Digital-only banks and insurers will shape the future of financial services within Asia Pacific, according to new data released by Forrester this week.
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Commerce Systems
Banks feeling the pressure of the digital revolution
A new report found that competition is increasing between established retail banks and the technology and eCommerce disruptors that are offering new payment solutions.
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TSB
TSB delivers nine-week turnaround on banking software rollout
TSB partnered with global banking software company Temenos to implement Temenos Infinity, a digital front office product that accelerates customer growth.
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Artificial Intelligence
ThetaRay offering uses AI against financial cybercrime
ThetaRay version 4.0 enable banks to pinpoint activity that suggests money laundering, terrorist financing, human and drug trafficking, and other financial crimes.
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Fintech
Liquid & CIMB Niaga to support QRIS for cross-border transactions
"We believe that this initiative will greatly benefit our customers who can enjoy the ease of transacting abroad, starting with Singapore's Changi Airport."
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Artificial Intelligence
Westpac NZ collaborates with local AI startup
“Banking relationships are critical to SMEs and we look forward to working with Westpac to help serve their customers.”
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Unisys
Unisys: Users looking for data security when choosing banks
The report studied attitudes of banking customers in Hong Kong, Australia, New Zealand, the Philippines and Taiwan.
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Identity and Access Management
ForgeRock achieves open banking compliance certification
FAPI is an open standard designed for banks and fintechs in Europe and around the world to build Open Banking standards for secure exchange of consumer financial information.
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Unisys
Why Aussie banks should prioritise data security
New research reveals that Australian bank customers rank data security as the issue that matters to them most.
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Identity and Access Management
Security top priority for Filipinos when choosing a bank - Unisys
Filipinos have greatest appetite in Asia Pacific to use biometrics to access banking services
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Artificial Intelligence
Massive AI market growth to be driven by retail, banking
Spending on AI will hit close to US$36 billion with retail leading the way, followed by banking, according to IDC.
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Financial services organisations
573 days: Financial sector slow to fix vulnerabilities
Financial services companies took 29 days to address a quarter of their vulnerabilities in coding, and 573 days to remediate all open vulnerabilities.
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Fintech
NZ has a bright future in fintech
“We are seeing a real openness to open banking and a number of the banks have 20 or 30 collaborative Fintech projects on the go.”
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Cloud
Interview: Hitachi Vantara talks challenges of compliance in financial services
Technology is advancing a lot quicker, and the incumbent banks need to be more up to speed but are held back by a lot of legacy systems.
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Malware
Financial services breaches nearly triple in two years - Bitglass
“Financial organisations regularly handle sensitive, regulated data like home addresses, bank statements and Social Security numbers.”
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BNZ
SMEs need support in volatile economic times, says Canstar
Canstar general manager Jose George says every SME needs to be both flexible and responsive.
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Malware
Hackers using spearphishing to target banks –Bitdefender
To limit the risk of being discovered, attackers operated outside of normal business hours and cashout operations were planned for weekends.