Biometric Update’s Post

Ad 'astra: UK fintech giant seeing stars as actor promoting a sale of 400GB+ of data from largest banking clients, via an internal file sharing platform. https://lnkd.in/eDaxip8R

With the rise of app-only financial services, it’s easy to be drawn in by the convenience and sleek user experience. But as Mark Donovan, INB SVP & COO, points out, these fintech apps aren’t always as secure as traditional banks. They often lack the stringent regulations, deposit insurance, and robust cybersecurity that protect your money and data. Plus, when things go wrong, there’s no substitute for the personal touch of a dedicated banker. Banking isn’t just about convenience – it’s about trust and reliability. Read more about the risks and why INB remains a strong choice. https://lnkd.in/gT_raGP6

The evolution of digital identity in financial services - FinTech Futures: For many years, there were only a few overarching standards or protocols governing how fintech companies or large banks create their technology stacks ...

An Electronic Money Institution (EMI) is a regulated financial entity that specializes in issuing electronic money and offering a range of digital payment services. EMIs are authorized by regulatory bodies and adhere to strict compliance standards to ensure the security and integrity of their operations. They provide services such as digital wallets, prepaid cards, and peer-to-peer payments, catering to individuals, businesses, and other financial institutions. EMIs operate within a framework of regulations that govern their activities, including requirements for obtaining licenses, maintaining sufficient capital reserves, and implementing robust anti-money laundering (AML) and know your customer (KYC) procedures. They rely on advanced technology infrastructure to facilitate secure electronic transactions, employing encryption protocols and cybersecurity measures to protect customer funds and data. With a global reach, many EMIs serve customers across multiple countries, facilitating cross-border payments and fostering financial inclusion. The EMI sector is characterized by ongoing innovation and competition, as companies continually develop new products and services to meet the evolving needs of consumers in the digital economy. Overall, EMIs play a vital role in modern finance by providing convenient, efficient, and secure electronic payment solutions. Looking to grow your business in this direction? Stop by Obtained.

𝐂𝐡𝐨𝐨𝐬𝐢𝐧𝐠 𝐭𝐡𝐞 𝐑𝐢𝐠𝐡𝐭 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫 (𝐏𝐒𝐏): 𝐊𝐞𝐲 𝐓𝐢𝐩𝐬 𝐭𝐨 𝐆𝐞𝐭 𝐈𝐭 𝐑𝐢𝐠𝐡𝐭!💡 With so many PSPs out there, picking the right one can feel overwhelming. Here’s a quick guide to streamline your decision: ▪ Know Your Business Needs 🧭: Prioritize features specific to your industry (e.g., high-risk, global payments). ▪ Evaluate Fees Transparently 💰: Don’t be caught off-guard. Look for transparent pricing and avoid hidden costs. ▪ Look for Flexibility and Scalability 📈: Choose a PSP that grows with you—look for integrations and support for different payment methods. ▪ Customer Support Matters 🤝: Reliable 24/7 support can be a lifesaver. Check reviews for responsiveness. ▪ Security is Non-Negotiable 🔒: Ensure PCI compliance and robust fraud prevention. Choosing the right PSP could be the difference between smooth transactions and constant headaches. Do your research and choose wisely! or 📩 Just reach out to me to discuss in detail #paymentgateway #psp #creditcardprocessing #fintech #womeninfintech #explore

January's top tech headlines include the Federal Deposit Insurance Corp.'s impending Synapse Rule, Regions Bank's play for an open banking future, the cybersecurity impact of the Treasury Department's recent breach and more. #bankingindustry #fintech #litrendingtopics

Enhancing security for modern banks and businesses through Multi-Factor Authentication (MFA) is crucial. MFA in payment processing boosts safety by necessitating various forms of verification prior to completing transactions. This generally includes: 1. Something you know: A password or PIN. 2. Something you have: A mobile app generating a code or a hardware token. 3. Something you are: Biometric checks like fingerprint or facial recognition. Adopting MFA significantly lowers the chances of fraud and unauthorized access, making it tougher for hackers to breach accounts. A growing number of financial institutions and payment providers require MFA for regulatory compliance and to safeguard customer financial data. Emerging players demonstrate the effectiveness of MFA, and sleek solutions across multiple channels are now expected by corporate clients. https://okt.to/OIUv57 #SecuredPayments #FinastraPayments

This article explores the measures ensuring transaction safety and building user trust, how to stay informed and protect your financial transactions, and how Enovepay helps you achieve these goals. #DigitalPayments #PaymentSecurity #UserTrust #Fintech #SecureTransactions https://lnkd.in/dzSt3pNZ

Finastra, a global leader in financial technology that serves 45 of the world’s top 50 banks, has confirmed a major data breach impacting its internal file transfer system. The London-based firm, which facilitates vital banking and wire transfers for over 8,100 financial institutions worldwide, detected the breach on Nov. 7. #creditunions #bankingindustry #financialservices #fintech #payments #mortgagelending #managementconsulting #money #future

Capital One is expanding access to AirKey, its NFC-enabled authentication technology launched four years ago, to other financial institutions. For daily news and analysis subscribe to the www.bankingpeek.com newsletter. #Banking #Finance #Fintech