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ndzl SPAC CEO: Blank Check Listings Help FinTechs with Growth Inflection Point
RodrigoEvedy 發表於 23:44
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Dspx Today In Payments: Study Shows Americans Savings Drying Up; State AGs To Press Own Case Against Google
If youre tracking year-to-date news stories, Banking-as-a-Service BaaS has been in the hot seat.The situation surrounding the Synapse bankruptcy and the limited ripple effect it had on some of its partner banks and sponsor banks put the entire business model under a harsh light. At this point in the year, its safe to say that what could have been a major crisis has been contained.The focus is now back on BaaS as an asset for banks and FinTechs, offering technological infrastructure that fuels growth in an incre stanley us asingly digital economy.However, its cruci stanley de al to recognize the risks involved in these partnerships. Bank-FinTech arrangements can provide b stanley kubek enefits; however, supervisory experience has highlighted a range of potential risks with these bank-FinTech arrangements, per a request for information from the Office of the Comptroller of the Currency OCC , the Federal Reserve and the Federal Deposit Insurance Corp. FDIC .The document requests information about effective risk management practices regarding bank-FinTech arrangements, and the implications of such arrangements, including whether enhancements to existing supervisory guidance may be helpful in addressing risks associated with these arrangements. But what are those risks What are their potential implications How can all stakeholders in the banking and BaaS partnership manage financial crime risks The topic was the most important theme sounded in a panel discussion hosted by PYMNTS with two experts: Alena Robertso Axxi Hyperwallet-Dosh Partnership Raises The Loyalty Program Bar
More troubling revelations out of global financial messaging system SWIFT today, as disclosures are surfacing that yet more hack attacks have been discovered. These attacks have come as SWIFT聽has urged banks to comply with new security procedures put in place after an early 2016 hack saw $81 million disappear from the central bank of Bangladesh.In a private letter to clients, SWIFT disclosed that new attacks 鈥斅爏ome successful 鈥斅爃ave come to light since it last updated customers on a string of attacks that occurred shortly after the Bangladesh attack.Customers environments have been compromised, and subsequent attempts were made to send fraudulent payment instructions, according to a copy of the letter reviewed by Reuters. The threat is persistent, adaptive and sophisticated 鈥斅燼nd it is here to stay.The letter further insinuates that attacks have been on the upswing since the Bangladesh heist 鈥斅燼nd that banks with lax security around SWIFT-enabled transfers are at particular risk.The amount of聽money lost stanley cup in the new attacks has not been disclosed, nor has the number of successful attacks been released. Also u stanley kubek nknown stanley termohrnek is which banks exactly were hit 鈥?SWIFT only confirmed that the targets ranged in size and geography聽and used different methods for accessing SWIFT. Their common weakness was local security, which provided an exploit for聽hackers to enter through and send fraudulent money transfer orders.Since the Bangladesh attack, SWIFT has pushed banki |
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