Digital-first banks are used to fending off external threats like data breaches and botnet attacks, but their cybersecurity measures can fall short of protecting against internal threats like phishing schemes. In the Digital-First Banking Tracker, Bala Nibhanupudi, chief technical officer at First Bank, discusses why...
The banking industry is still grappling with the pandemic’s unprecedented effects, including a broad digital shift across numerous sectors. Digital banking apps in particular have benefited from this new trend, with 60 percent of bank customers using such apps more often during the health crisis...
In today’s top news in digital-first banking, California FinTech Green Dot is rolling out the GO2bank mobile banking to help cash-strapped individuals, while stimulus checks are reportedly posing challenges for some users of H&R Block and TurboTax. Plus, the banks that help support supply chains...
In today’s top news in digital-first banking, the Office of the Comptroller of Currency (OCC) has OK’d independent node verification networks (INVNs) and stablecoins for federal banks, while multiple states are suing a banking watchdog over the “true lender” regulation. Plus, two-thirds of the second...
Diem may be a shadow of what some proponents promised it would be back in 2019 — namely, a seismic shift for the monetary system itself. What once was billed as a “new” currency, via global stablecoin to be composed of a “basket” of multiple...
Here’s another icy factoid from the year of COVID: up to 20,000 bank branches are expected to close before the pandemic is declared done. It’s triggered a remaking of the entire sector. Delving into fallout from an extraordinary global health crisis, PYMNTS December 2020 Digital-First...
The ongoing pandemic has drastically changed day-to-day life and generated economic turbulence the world will feel for years to come. The banking industry is hardly exempt from the disruption as social distancing and stay-at-home orders have all but emptied physical bank branches to mitigate potential...
In today’s top news in digital-first banking, the Financial Crimes Enforcement Network (FinCEN) has issued a warning about COVID-19 vaccine scams and cybersecurity, while J.P. Morgan Chase has agreed to purchase cxLoyalty Group Holdings’ rewards division. Plus, the U.S. Securities and Exchange Commission’s lawsuit against Ripple...
Banks are fast-tracking digital-first banking solutions, but customers used to walking into a branch struggle to adapt, says CarrieAnne Cormier, senior vice president of retail operations and strategy for Avidia Bank. In the Digital-First Banking Tracker, Cormier explains how a cross-channel approach can help these...
