Confident risk analysis can seem hard to come by when the world goes off its commercial axis, as it has been this year. In regions where open banking and other electronic payments pilots are becoming common, such as the Middle East-North Africa (MENA) region, pandemic-era...
A U.S. House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). The House committee held a hearing...
Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The ongoing COVID-19 pandemic is accelerating this shift, making financial institutions (FIs),...
Consumers around the globe have moved their purchasing online during the pandemic, and those in the Middle East and North Africa (MENA) region are no exception. The region’s financial institutions (FIs) and merchants have needed to work swiftly to support unprecedented levels of digital payment...
Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Open banking rules have continued to evolve during the...
Regulators are expected to reprimand Citigroup for its faulty risk management system, which works to detect problematic transactions, risky trades and other such issues, and that has apparently sped up retirement plans for Chief Executive Michael Corbat, according to a report in The Wall Street Journal....
Fraudsters took immediate advantage of the COVID-19 pandemic, banking on overwhelmed servers, staff and consumer vulnerability to target everything from eCommerce purchases to government-supported relief programs. A recent study found that 32 percent of U.S. online customers have been targeted by COVID-19-related fraud, with phishing...
European Union regulators are eager to pop the top on new regulations to solve the region’s fraud woes. But many merchants still aren’t convinced, says Richard Ellison, founder of boutique wine company Wanderlust Wine. In the latest Merchants Guide To Navigating Global Payment Regulations, Ellison...
Most markets including the European Union, the United Kingdom and the United States have seen a jump in online transaction volume as consumers react to the pandemic. One recent study found that almost 50 percent of shoppers worldwide are using digital payment methods more often...
