Security

Heartbleed: Free Tool To Check if That Site is Safe

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April 17, 2014
Heartbleed: Free Tool To Check if That Site is Safe

I’m sure you’ve heard the news about Heartbleed by now (unless you’re in vacation wonderland and have taken a tech break). This is a serious vulnerability in the core of the Internet and is something we all should be concerned about. Heartbleed is a kink in encryption software, discovered by security researchers. It is...
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Bank of America Adds Mobile Users, Sheds Branches

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April 16, 2014
Bank of America Adds Mobile Users, Sheds Branches

Mobile users continue to grow at Bank of America. The bank grew mobile users by 4% in the first quarter of 2014, while shedding 1% of its branches. Mobile users reached 15 million, almost 20% higher than one year ago. JPMorgan Chase and Wells Fargo both saw about 5% QOQ mobile user growth. 10%...
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VIDEO: Samsung Galaxy S5 Fingerprint Scanner Hacked

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April 15, 2014

Oops! Looks like Samsung‘s fingerprint scanner has already been hacked, revealing problems with its implementation. The scanner allows unlimited attempts before asking for a password, and does not require a password after restarting the device. Apple’s iPhone 5S avoids these two pitfalls. The video below shows white hat hackers spoofing a fingerprint and accessing...
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Building a Bank from Scratch

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April 15, 2014
Building a Bank from Scratch

The bank of the future probably won’t be made of brick or stone, and may not be much to look at. It’s easier to say what it will do. Entrepreneur and startup mentor Jack Gavigan, who traded tweets with Marc Andreessen and others on the subject back in February, elaborated on his vision for a...
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VIDEO: PayPal Leaps to the Forefront of Biometric Authentication

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April 14, 2014
VIDEO: PayPal Leaps to the Forefront of Biometric Authentication

Biometrics have arrived, and not a moment too soon. The so-called Heartbleed vulnerability has just about everyone worried about the fidelity of passwords, which are hard to remember and not secure anyway. Fingerprint scanners and other forms of biometric authentication are both easier and far safer and have long been held up as potential...
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Heartbleed is a Headache for Banks

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April 11, 2014
Heartbleed is a Headache for Banks

Bank systems are generally thought to be safe from the direct effects of the Heartbleed bug, according to security experts, but the galaxy of vendors and service organizations — to say nothing of employee devices — are another matter. The Heartbleed exploit refers to a weakness in OpenSSL, an authorization and encryption protocol that...
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Risk, Compliance Top Concerns for Bitcoin Startups

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April 8, 2014
Risk, Compliance Top Concerns for Bitcoin Startups

It’s no longer the Wild West for virtual currency startups — all 2,000 of them. The regulators (and tax collectors) have virtual currencies in their cross-hairs, and the startups must learn to operate in a regulated space. There is tension in the bitcoin community over compliance. There will always be an anarchic element to...
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Voice Banking — With Biometrics — to Arrive at Two Major Banks This Summer

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April 8, 2014
Voice Banking — With Biometrics — to Arrive at Two Major Banks This Summer

Bank customers may soon be using their phones to actually talk. This summer, two major banks will announce audio virtual assistants paired with voice biometrics in their mobile apps, according to Nuance Communications. More banks are in discussion to do the same. USAA is already up and running with Nina, Nuance’s virtual assistant, and US...
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Credit Card Fraud Security Bleak

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April 7, 2014
Credit Card Fraud Security Bleak

The U.S. is no superpower when it comes to card payments, but rather is the card-hacking headquarters of the world. Don’t count on credit card fraud going away too soon. After all, Americans practically sleep, eat and breathe credit card use. And it’s those doggone magnetic strips on the cards that keep getting consumers,...
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Budgets Not Keeping Up with Mobile Banking Growth

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April 3, 2014
Budgets Not Keeping Up with Mobile Banking Growth

Despite the clearly growing importance of mobile to banks, it seems the channel is still not receiving its due in terms of budget. 45% of banks said that mobile is allotted 5% or less of current IT budgets. 17% of banks said that 26% or more of their total IT spend goes to mobile....
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