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Biometrics, Bots and the Future of Security in Financial Services

By Eric Crabtree

Not surprisingly, cybersecurity always ranks high on the list of chief concerns that cause bank CIOs to lose sleep at night. That’s because increasing levels of sophistication in the tech used by hackers and fraudsters is making it harder for financial institutions to defend themselves.

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BankNews Honors Four Companies With Innovative Solutions Award

November 1 – BankNews magazine has recognized four vendors in the banking industry for their noteworthy products and services in the ninth annual Innovative Solutions Awards. The awards were given to companies in categories ranging from authentication/fraud/cybersecurity to management/operations/processing. (more…)

CFPB Releases Report on Fintech, Consumer Friendly Innovation

October 24 – Remarking that “novel products” are creating challenges to the “regulatory framework,” Richard Cordray, director of the Consumer Financial Protection Bureau offered highlights to attendees of the Money 20/20 conference in Las Vegas of a reporting detailing the CFPB’s Project Catalyst initiative.

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U.S. Retail Banks Slow to Move on Omnichannel Tactics, Research Finds

October 18 – Today, BookingBug released its first research into how the top 10 U.S. retail banks are creating a more competitive customer experience, and which areas they are falling behind on.

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It’s What’s Inside Your Coin Machine That Counts

How different technologies impact accuracy and the customer experience

By Marianne Krbec

When it comes to self-service coin machines, it’s what’s inside that counts — literally. While machines fundamentally serve the same purpose of authenticating, denominating and sorting, the way that coins are processed can vary greatly.

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Blockchain and Banks

Banks of all sizes can benefit from blockchain technology.

By Michael Scheibach

As banks brace for an uncertain future rife with demographic changes and fintech competitors, blockchain has emerged as another factor contributing to the industry’s forced transition into a digital-first age. What began simply as a means to support bitcoin transactions has morphed into a digital distributed ledger enabling secure transactions through a shared, decentralized database.

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Community Bank Alliance Releases Recruitment Figures

August 24 — Golden Contract Coalition, an alliance that leverages the collective influence and consolidated buying power of large groups of community banks and credit unions to negotiate fair deals with incumbent core and IT vendors, announced that it has exceeded recruitment goals since its launch in late June.

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Nearly 3 in 10 Consumers Willing to Use Mobile Wallets in the Next Six Months

August 10 – Although mobile wallets are a relatively new form of payment, nearly 3 in 10 consumers (29 percent) expressed a willingness to adopt this emerging payments alternative in the next six months, according to recently released results from a consumer survey by Computer Services, Inc., a leading provider of financial technology solutions. (more…)

Focus on High-Net-Worth Customers Ensures Branch Survival

The adoption of technology has launched many discussions on whether bank branches are now passé, resulting in banks shutting down several of their branches. However, banks cannot solely survive over the internet. The branch operations of banks foster the confidence of the customers who want their money to be safe with a physical entity rather than the uncertain world of digital. Bank branches are not going anywhere and will continue to operate even if on a limited scale.

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CapitalOne Signs on to Early Warning P2P Service

July 11 – Early Warning, the industry leader in real-time payments, authentication and risk mitigation, announced today that Capital One, Chase and Wells Fargo are offering real-time payments through their person-to-person (P2P) service on Early Warning’s clearXchange network, the largest bank-led digital payments network in the United States.

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