Why open banking regulations and security matter to credit unions
2SHARES
Account holder digital expectations are often being driven by innovative fintechs and credit unions have turned to open banking as an effective way to meet this demand through partnerships with third-party providers (TPPs). Open banking relies on the use of application programming interfaces (APIs) to boost performance and reduce latency, and as with any digital data-sharing process, security and consumer privacy are of top concern.
The most recent F5 Labs research shows that the number of API security incidents is growing every year, and most API incidents during the last two years were related to a low level of security maturity, which is often caused by tool sprawl.
[author: Josh Reid]
In today’s business landscape, it is nearly impossible to work alone. You have to collaborate with clients, vendors, suppliers, specialists, and plenty of other partners all considered third parties to your organization. As a result, partner organizations have access to
sensitive and confidential data about your company and your customers, or they support a critical business process. Your organization needs to understand and manage the risk exposure that these third parties present.
Traditionally, security teams have tried to understand ongoing third-party risk by using annual security assessments. However, this method poses several challenges to security teams.
Nintendo Laughed Their Asses Off At Microsoft s Buyout Offer
We love a good oral history, and Bloomberg s latest is all about the Xbox.
Wait, come back! It s still Nintendo Life, don t worry, we haven t changed teams. It turns out that Microsoft had big plans back when the Xbox was in development, and those plans involved trying to buy out a bunch of gaming companies.
Long story short, it. didn t go well. Not only did EA tell them that they had no clue how to make a console, and that it was cute that they were trying, but Nintendo, quote, laughed their asses off , according to Director of Third-Party Relations, Kevin Bachus, who was in the room at the time:
Date
14/12/2020
SEON, the fraud fighters, today announces it has partnered with leading UK RegTech platform, TruNarrative, allowing TruNarrative users to leverage SEON’s extensive data to make informed onboarding decisions. It will also provide customers a solution for making safe commerce simple, combining SEON’s data with TruNarrative’s decisioning technology.
TruNarrative orchestrates financial crime detection, customer onboarding, transactional monitoring and compliance processes from a single easy-to-configure, no-code platform. The integration provides TruNarrative customers access to SEON’s email, phone, device intelligence and IP data, enabling them to establish the digital footprint of end users, building a customer risk score to make automated and manual decisions. The TruNarrative platform is trusted by businesses across banking, financial services, e-commerce and gaming operators. SEON’s data is in use for customer verification and fraud prevention a