Revolut is expanding its extraordinary multi-currency banking services to the US in partnership with Mastercard
Revolut is coming to the US. The innovative fintech firm has teamed up with Mastercard, and plans to bring its extraordinarily useful multi-currency card to America.
The digital banking service has already enjoyed huge success in Europe through its existing partnerships with Mastercard and Visa. Revolut's particular strength lies in the ease with which money can be converted between currencies with not only no or very low fees but also at incredible exchange rates -- all accessible through a mobile app.
Phishing and credential stuffing remain top threats
As we have seen in another report today, the financial sector remains a prime target for cybercriminals. Phishing attacks and credential stuffing are the two most common forms of attack used against the industry according to another report from Akamai.
In the six months between December 2018 and May 2019, nearly 200,000 phishing domains were discovered by the research and 50 percent of all unique organizations impacted are from the financial services sector.
European financial services industry struggling with lack of data skills
Nearly 40 percent of financial services businesses are failing to implement data initiatives due to a lack of skills, with almost a third saying that their GDPR initiatives are failing, according to a new study.
The report produced by Vanson Bourne for analytics database company Exasol is based on responses from 500 IT and business decision makers, from enterprises in Germany and the UK.
Financial sector concerned about third-party cyber risk
Many organizations work with hundreds of third parties, creating new risks that must be actively managed. The financial industry, in particular, has a massive business ecosystem made up of legal organizations, accounting and human resources firms, management consulting and outsourcing firms, and information technology and software providers.
A new study into the financial services sector from security ratings company BitSight finds that 97 percent of respondents say cyber risk affecting third parties is a major issue.
Vulnerabilities leave financial mobile apps open to attack
A new report reveals widespread security inadequacies and protection failures among consumer financial applications.
The research for Arxan Technologies, carried out by Aite Group, says these vulnerabilities can lead to the exposure of source code, sensitive data stored in apps, access to back-end servers via APIs, and more.
Financial firms not keeping up with electronic communication risks
In a world of evolving technologies and shifting demographics within the workforce, and within firms' customer bases, organizations need to rethink their approach to the adoption and oversight of electronic communications.
But a new study from data archiving specialist Smarsh shows that financial organizations are not keeping pace with their retention and supervision efforts -- particularly with a growing, younger workforce that relies on expanding, mobile-friendly channels, such as social media and text messaging.
Financial services breaches triple since 2016
2018 has seen nearly three times as many breaches at financial services organizations as there were in 2016, according to a new report.
The study by cloud access security broker Bitglass finds there have been 103 breaches in this year’s report compared to just 37 two years ago.
Attackers use hidden tunnels to steal financial data
Global financial services organizations are targeted by sophisticated cyber attackers in an attempt to steal critical data, according to a new report.
The study from threat hunting company Vectra says attackers build 'hidden tunnels' masquerading as other web traffic to break into networks and access critical data and personal information. These tunnels are used to remotely control an attack and steal data while remaining largely undetected.
Sophisticated keyloggers target financial services companies
Analysis of malware samples found among finance firms has uncovered an unusually large number of iSpy keylogger samples. iSpy is a variant of the notorious HawkEye logger.
Network-based malware protection specialist Lastline intercepted the logger's communication with the command and control server and detected the active exfiltration of website, email and FTP credentials, as well as license key information for installed products.
Accelerating the future of financial services
Over the past year, I’ve spent a lot of time with companies across different industries, listening and working to understand their unique needs. As their respective landscapes evolve, it’s clear that each of them is looking for technology that accelerates the execution of their most imperative objectives. With that in mind, I want to take a look at a few specific industries, examining issues they face as well as their plans for innovating for the future. First up: financial services.
From my perspective, there are three pivotal shifts underway.
Spotify is filing for an unconventional IPO
Music streaming service Spotify is planning to go public. The company is making a "novel" move which it acknowledges is "risky": opting for a "direct listing" rather than the more usual fundraising route.
The company will allow its investors and employees to sell shares, and there will be no need to raise more capital or hire an underwriter. It is expected that Spotify will go public in late March or early April when it will appear on the New York Stock Exchange using the symbol SPOT.
Should Amazon create its own cryptocurrency and banking products?
Amazon is a company that isn’t afraid to take risks, and try new things. Some of its ideas -- like the Echo -- paid off handsomely, while other gambles, like the Amazon Fire Phone, failed miserably.
Amazon is also happy to splash the cash to expand its reach, buying Whole Foods in 2017, and Ring this week. But where can Amazon go next? LendEDU ran a poll of 1,000 American consumers who had purchased something from Amazon in the last 30 days, and asked them whether they’d be interested in using an Amazon-created cryptocurrency for purchases, or banking with the retail giant. The results may surprise you.
51 percent of financial services companies believe existing tech is holding them back
Legacy technology can be a major obstacle to digital transformation projects and, according to a new survey of financial services technology decision makers carried out for business consultancy Janeiro Digital, almost 51 percent say existing technology is holding back innovation.
Three of the biggest roadblocks are seen as lack of support for change (34 percent), legacy technology and infrastructure (31.6 percent) and a lack of in-house technical skill (29.5 percent).
Lloyd's Banking Group bans Bitcoin payments via credit card
It has been something of a rocky ride for cryptocurrencies recently, and none more so than Bitcoin. Now Lloyd's Banking Group has announced a ban on purchasing cryptocurrencies using credit cards in the UK.
The banking group controls Lloyd's Bank, Halifax, MBNA and Bank of Scotland, and the ban has been triggered by the deflation of Bitcoin. In recent months it has spiraled from a high of almost $20,000 to under $8,000.
Financial services organizations fail to properly secure SSH keys
Secure Shell (SSH) provides a secure channel for communication over unsecured networks and is therefore a popular technology in the financial services sector.
But a new study for machine identity protection company Venafi shows that even though SSH keys provide the highest levels of administrative access, they are routinely untracked, unmanaged and poorly secured.
Recent Headlines
Most Commented Stories
Betanews Is Growing Alongside You
Only a fool still uses Windows 7
© 1998-2025 BetaNews, Inc. All Rights Reserved. Privacy Policy - Cookie Policy.