Tech Talk: Digital wallets, stable coins, embedded payments, and more!

• CFPB proposes oversight digital wallets
• Strong federal regulation of stablecoins
• Banks look to fintechs to stave off threats
• Revamped chatbot service with generative AI
• How decentralized financing is displacing banks
• Onboarding can lead to long and valuable relationships
• ATMs take cash deposit to the next level
• Solving critical AP challenges with embedded payments
• Webinar to analyze ATM self-service software trends
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

CFPB proposes oversight digital wallets
The CFPB says that the likes of Apple Pay and PayPal have gained significant market share in recent years as Big Tech blurs the traditional lines that have separated banking and payments from commercial activities. Finextra has the details.

Strong federal regulation of stablecoins
Michael Barr, vice chair for supervision at the Federal Reserve, told an audience at a Washington, D.C. FinTech Week event, that stablecoins could function as a form of private money that could upset the American financial system if left unregulated. PYMNTS.com has the details.

Banks look to fintechs to stave off threats
Nearly half of all banks are looking to buy majority stakes in fintechs to fend off the threat from Big Tech companies muscling into the payments arena, according to an Economist Impact report. Finextra has the details.

Revamped chatbot service with generative AI
Developed in collaboration with IBM, NatWest claims that the service is able to provide “conversational responses to complex customer queries”, ranging from product comparisons to general information about the bank and career opportunities. Fintech Futures has the details.

How decentralized financing is displacing banks
Decentralized finance removes the middleman and allows people, merchants, and businesses to make financial transactions using new technologies. Through peer-to-peer financial networks, DeFi uses security protocols, software and hardware. Finextra has the details.

Onboarding can lead to long and valuable relationships
There is an abundance of research about the growing importance of customer satisfaction and experience in the long-term success of all companies, with the link being especially robust in the banking industry. Not as widely recognized is the critical role that seamless onboarding plays in forming the strong relationships financial services companies aim to establish with their customers. Banking Dive has the details.

ATMs take cash deposit to the next level
NCR Corp. partnered with Clip Money to combine cardless cash deposit API with Clip's cash deposit solution. With this partnership, businesses can skip the branch and deposit at more than 2,500 ATMs in 30 states. ATM Marketplace has the details.

Solving critical AP challenges with embedded payments
One of the most promising solutions to AP challenges is embedded finance, which integrates financial tools into existing AP software and workflows, eliminating the need for an outside bank or financial service provider to facilitate the transaction. PYMNTS.com has the details.

Webinar to analyze ATM self-service software trends
A live webinar on Nov. 16 at 11 a.m. EST will cover key trends from the 16th edition of the ATM and Self-Service Software Trends Report. Hosted on ATM Marketplace and sponsored by KAL ATM Software, the webinar will take a look at how the market is changing based on survey data and expert insights. ATM Marketplace has the details.

Spams, Scams, and Breaches

• SecurityWeek: Sumo Logic Urges Users to Change Credentials Due to Security Breach
• TechCrunch: Maine government says data breach affects 1.3 million residents
• SecurityWeek: Ransomware Gang Leaks Data Allegedly Stolen From Canadian Hospitals
• SecurityWeek: Marina Bay Sands Discloses Data Breach Impacting 665k Customers
• SecurityWeek: SysAid Zero-Day Vulnerability Exploited by Ransomware Group
• Dark Reading: Ace Hardware Still Reeling From Weeklong Cyberattack
• SecurityWeek: American Airlines Pilot Union Recovering After Ransomware Attack
• SecurityWeek: Okta Hack Blamed on Employee Using Personal Google Account on Company Laptop
• SecurityWeek: Cyberattack Disrupts Ace Hardware's Operations

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• SecurityWeek: 37 Vulnerabilities Patched in Android With November 2023 Security Updates
• CNET: iOS 17.1.1: These iPhone Issues Were Just Patched
• SecurityWeek: Critical Vulnerabilities Expose Veeam ONE Software to Code Execution
• TechCrunch: SysAid warns customers to patch after ransomware gang caught exploiting new zero-day flaw
• SecurityWeek: Exploitation of Critical Confluence Vulnerability Begins
• Help Net Security: MOVEit hackers leverage new zero-day bug to breach organizations (CVE-2023-47246)
• SecurityWeek: Microsoft Says Exchange 'Zero Days' Disclosed by ZDI Already Patched or Not Urgent
• Dark Reading: Spyware Designed for Telegram Mods Also Targets WhatsApp Add-Ons
• SecurityWeek: Atlassian Issues Second Warning on Potential Exploitation of Critical Confluence Flaw
• SecurityWeek: Apache ActiveMQ Vulnerability Exploited as Zero-Day

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...

Monotony can take over while waiting for your transaction to process, but not at Michigan First. Boogie Woogie Banking