Tech Talk: GenAI, open banking, biometric security, and more!

• Global mobile banking malware surges
• New demands demand new technology
• Security in digital banking
• Biometric payment card for vulnerable people
• New checkout experience to reclaim pay later
• Open Banking: Strengths/weaknesses/concerns
• GenAI to help banks enhance efficiency
• Satisfaction dwindles with online-only banks
• Security not keeping up with biometric fraud
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Global mobile banking malware surges
Global mobile banking trojan attacks on Android users grew by a third in 2023, while cryptocurrency-related phishing also saw a sharp increase, according to a Kaspersky report. Finextra has the details.

New demands demand new technology
Technology has advanced dramatically in the financial sector since the 1950s, when computers were first introduced to hold banking transactional records previously written down in large ledger books and, before that, on stone tablets. And the changes keep coming. FinTech Futures has the details.

Security in digital banking
Delivering the seamless, innovative digital banking experiences consumers demand is challenging enough, but financial institutions must also tackle the vulnerabilities introduced by the very technologies that enable these experiences. PYMNTS.com has the details.

Biometric payment card for vulnerable people
Three companies have joined to create and launch a biometric-enabled 'carer card', addressing barriers that have traditionally restricted vulnerable people in the UK from accessing financial services. Finextra has the details.

New checkout experience to reclaim pay later
To that end, Splitit late last month debuted FI-PayLater, which enables FIs to offer BNPL at the point of sale, closing the gap between traditional players and the FinTechs, and giving banks room to play in what Sheth said is the “during purchase” segment, which is in fact a bigger opportunity than has been seen post-purchase. PYMNTS.com has the details.

Open Banking: Strengths/weaknesses/concerns
Like most areas of fintech, with open banking, there is a key focus on how to bridge the gap between the promise of the technology and the commercial reality of running a business. FinTech Futures has the details.

GenAI to help banks enhance efficiency
In core banking operations, Temenos generative AI enhances user workflows, journeys, and day-to-day queries, enabling banks to revolutionize productivity in product creation and account management. The Fintech Times has the details.

Satisfaction dwindles with online-only banks
With online-only banks, shortcomings in customer service and prompt issue resolution weighed heavily on overall customer satisfaction scores, hampering direct banks' performance, especially when it comes to checking accounts. Banking Dive has the details.

Security not keeping up with biometric fraud
Michael Marcotte, CEO of artius.iD, a digital ID and authentication firm, recently said, "Biometric-based fraud is now the greatest threat to the international banking system – and executives are asleep at the wheel. Criminals circumventing KYC checks expose banks to a range of liabilities: identification theft, fraud, and money laundering are just some that could be on the cards." The Fintech Times has the details.

Spams, Scams, and Breaches

• SecurityWeek: Nissan Data Breach Impacts 53,000 Employees
• Help Net Security: Ebury botnet compromises 400,000+ Linux servers
• SecurityWeek: Personal Information Stolen in City of Wichita Ransomware Attack
• PCWorld: Ransomware isn't as big a threat as these scams
• SecurityWeek: Santander Data Breach Impacts Customers, Employees
• Dark Reading: 500 Victims In, Black Basta Reinvents With Novel Vishing Strategy
• SecurityWeek: 400,000 Linux Servers Hit by Ebury Botnet
• Dark Reading: You've Been Breached: What Now?
• PCWorld: What is vishing and quishing, and how do you protect yourself
• SecurityWeek: 500,000 Impacted by Ohio Lottery Ransomware Attack
• Help Net Security: Selfie spoofing becomes popular identity document fraud technique

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• SecurityWeek: Third Chrome Zero-Day Patched by Google Within One Week
• Dark Reading: D-Link Routers Vulnerable to Takeover Via Exploit for Zero-Day
• SecurityWeek: Intel Publishes 41 Security Advisories for Over 90 Vulnerabilities
• Dark Reading: Microsoft Windows DWM Zero-Day Poised for Mass Exploit
• SecurityWeek: ICS Patch Tuesday: Advisories Published by Siemens, Rockwell, Mitsubishi Electric
• PCWorld: Microsoft's patch fixes the update that broke VPNs on Windows
• SecurityWeek: Microsoft Warns of Active Zero-Day Exploitation, Patches 60 Windows Vulnerabilities
• Help Net Security: May 2024 Patch Tuesday: Microsoft fixes exploited zero-days (CVE-2024-30051, CVE-2024-30040)
• SecurityWeek: Adobe Patches Critical Flaws in Reader, Acrobat
• PCWorld: Update Chrome right now — yes, again
• SecurityWeek: SAP Patches Critical Vulnerabilities in CX Commerce, NetWeaver
• Help Net Security: Apple backports iOS zero-day patch, adds Bluetooth tracker alert
• SecurityWeek: VMware Patches Vulnerabilities Exploited at Pwn2Own 2024
• CISA: CISA Adds One Known Exploited Vulnerability to Catalog
• SecurityWeek: Google Patches Second Chrome Zero-Day in One Week
• Help Net Security: How AI affects vulnerability management in open-source software
• SecurityWeek: Exploited Chrome Zero-Day Patched by Google
• Help Net Security: May 2024 Patch Tuesday forecast: A reminder of recent threats and impact
• SecurityWeek: Apple Patch Day: Code Execution Flaws in iPhones, iPads, macOS
• Help Net Security: Cybercriminals are getting faster at exploiting vulnerabilities
• Dark Reading: 2 (or 5) Bugs in F5 Asset Manager Allow Full Takeover, Hidden Accounts

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 this 3-minute video, directed by Oscar winner Kathryn Bigelow, a group of veterans reunite and take flight once again with the help of a crafty granddaughter.