Tech Talk: A faster payments tool, cardless ATM cash access, lending tech, and more!

• A compliance tool for faster payments
• QR-based cardless ATM cash access
• A tech-centric approach to faster home loans
• Trust tops convenience for banking customers
• Protecting your institution's moving data
• AI gives small banks a competitive edge
• Digital onboarding spurs banking biometrics growth
• Funding to enhance online banking fraud prevention
• An API-based coreless banking solution
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

A compliance tool for faster payments
The acceleration of real-time payment systems, such as FedNow, increases the risk of real time fraud. Financial software provider Finastra has teamed up with financial crime specialists Fincom and ThetaRay to reduce those risks. The partnership will offer a prepackaged Compliance-as-a-Service solution for banks launching instant payment services. Finextra has the details.

QR-based cardless ATM cash access
Fraudsters continue to devise new ways to siphon funds from consumers. According to FICO, there was a significant year to year increase (77%) in compromised cards from roughly 70,000 cards in 2022 to nearly 120,000 cards in just the first six months of 2023. New technology is being leveraged that allows consumers to withdraw cash at ATMs without using their debit or credit cards. ATM Marketplace has the details.

A tech-centric approach to faster home loans
Remember when the mortgage lending process took weeks (if not months) and involved mounds of documents to process? Technology has had a profound impact on the mortgage lending process, making it more streamlined and efficient for both lenders and borrowers. Global digital ID verification firm IDVerse is further transforming the loan process with a game changing online lending platform that can fast track loan origination in minutes and settlement within hours. Finextra has the details.

Trust tops convenience for banking customers
Stephen Covey said "Trust is the highest form of human motivation." As new and emerging technologies entered the banking landscape, consumers have been drawn to fintech solutions that offer more convenient ways to manage their finances. But according to a recent survey, consumers (nearly 70%) value trust more than convenience when it comes to choosing a financial provider. Protection of personal data and protection of financial assets were also top considerations for consumers when selecting a bank. PYMNTS.com has the details.

Protecting your institution's moving data
There are three primary states of data within a financial institution: data at rest, data in motion, and data in use. When data is on the move – in transit in the cloud or between systems or a device – is when that data is most vulnerable to today's emerging threats. There are steps you can, and should, take to thwart data thieves when your data is most at risk. The Financial Brand has the details.

AI gives small banks a competitive edge
In the wake of recent bank failures and faced with economic uncertainty, consumers are uneasy about what the future holds for their deposits. Small banks are feeling the pressure to deliver innovative solutions and compete with big banks. Harnessing Artificial Intelligence (AI) technologies, small banks can gain a competitive edge with enhanced customer experience, improved operational efficiency, and mitigating risks. ATM Marketplace has the details.

Digital onboarding spurs banking biometrics growth
The "Biometrics for Banking and Financial Services: Global Strategic Business Report" is out, with a comprehensive analysis of recent, current, and future industry trends. The report provides an outlook on the biometrics market in banking and financial services, specifically exploring the favorable impact digital onboarding initiatives of banks, such as fingerprint and voice recognition, have had on the global biometrics technologies market. Yahoo Finance has the details.

Funding to enhance online banking fraud prevention
Cleafy, an Italian technology company that specializes in fraud prevention for digital banking, has secured more than $10 million in its latest funding round. Cleafy’s online bankng fraud prevention platform actively identifies and prevents financial online fraud in real time, providing a safe and uninterrupted online experience for its more than 100 million digital customers. Currently serving major banking groups, such as BNP Paribas group, the funds will enable the firm to expand into new markets and continue advancing its platform. Security Week has the details.

An API-based coreless banking solution
Faced with a challenging global economy, increased competition, and rapidly changing customer demands, banks need faster and more efficient tools to develop new services. BIAN, an independent not-for-profit standards association, has released an API-based Coreless Banking architecture that will provide banks with an overall view of a user’s financial position, including services they get from other providers. This data will enable them to provide customers with tools tailored to meet their needs and preferences. Fintech Finance News has the details.

Spams, Scams, and Breaches

• Security Week: How Next-gen threats are taking a page from APTs
• Krebs on Security: FBI hacker dropped stolen Airbus data on 9/11
• Help Net Security: Latest fraud schemes targeting the payments ecosystem
• Tech Radar: LastPass security breach linked to a string of crypto heists
• Help Net Security: MetaStealer malware is targeting enterprise macOS users
• Tripwire: Thousands of dollars stolen from Texas ATMs using Raspberry Pi
• Tech Radar: Password-stealing malware targets thousands of Facebook business
• Security Week: FBI blames North Korean hackers for $41 Million Stake.com heist
• Security Week: U.S. agencies publish cybersecurity report on Deepfake threats
• Help Net Security: Attackers use fallback ransomware if LockBit gets blocked
• Help Net Security: Microsoft Teams phishing: Enterprises targeted by ransomware access broker
• Justice.gov: Multiple foreign nationals charged in connection with Trickbot malware and Conti ransomware conspiracies

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• BGR: Update Chrome, Firefox, Edge, Brave, and Tor to patch this critical bug
• Security Week: SAP patches critical vulnerability impacting Netweaver, S/4HANA
• Help Net Security: Chrome Zero-day exploited in the wild: Patch Now!
• Bleeping Computer: Microsoft September 2023 Patch Tuesday fixes 2 zero-days, 59 flaws
• Tech Radar: Adobe Acrobat and Reader have some serious security flaws, so patch now
• Security Week: After Apple and Google, Mozilla also patches Zero-Day exploited for spyware delivery

See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

And on the lighter side...

In our industry we never make light of bank robbery, but comedian Gabriel Iglesias shares a humorous take on a serious topic.