VISTA InfoSec

APRIL 3, 2024

Encryption is a vital safeguard that transforms data into a format that is unintelligible without the corresponding decryption key. Furthermore, strong authentication measures, such as two-factor or multi-factor authentication (MFA), verify the user’s identity before granting access to sensitive systems and data.

Cybersecurity

PYMNTS

APRIL 18, 2019

Both were used by Russian criminals and, like its role in the Danske Bank money laundering scandal, Deutsche acted as a correspondent bank, and processed cross-border payments for the two banks.

Correspondent Bank

PYMNTS

APRIL 8, 2020

GIACT , which helps to verify and authenticate customers for businesses, is getting into the fray of the Paycheck Protection Program (PPP) for small- to medium-sized businesses (SMBs) given by the U.S. government in the wake of the coronavirus pandemic.

Correspondent Bank

PYMNTS

FEBRUARY 3, 2017

In a few instances, the correspondents have observed and stopped suspicious messages; in others, the attacks have been identified, and the frauds ultimately prevented as a direct result of measures introduced through the CSP.”. Fortunately,” he continued, “a good number of recent attacks have been ultimately thwarted.

SWIFT

PYMNTS

JULY 8, 2020

The inefficiencies in B2B cross-border payments are well-known among struggling SMB owners, with the correspondence banking model having been in effect since 1973. A Brazilian bank, for example, has to have another correspondent bank [in Brazil] that communicates with a correspondent bank in the U.S.,

Cross-Border

PYMNTS

NOVEMBER 10, 2017

In his filing, patent inventor Stephen Moore Davis noted the plethora of payment methods in place at physical retailers — ranging from credit and debit cards to near-field communication (NFC) offerings — and that they “lack a secure and/or convenient method” through which to authenticate a buyer’s identification.

Authentication

The Fintech Times

JUNE 8, 2024

It provides a robust method for ensuring that payment details and account names correspond precisely to registered account information. Moneyhub Account Verification leverages Moneyhub’s AIS API to enhance the security and integrity of online financial transactions.

Verification

PYMNTS

NOVEMBER 17, 2020

They can use fraudulent invoices to scam unsuspecting businesses and consumers or hijack legitimate email correspondence during property transactions to divert funds into the bank accounts of their choosing, for example. The nature of these payments means that, once they have been made, consumers cannot reverse them.

Scams

FICO

DECEMBER 18, 2019

Additionally, Strong Customer Authentication has been mandated in the European Union, which applies an extra layer of protection to qualifying e-commerce transactions. This legislation, called the Second Payment Services Directive (PSD2), is designed to improve customer authentication processes. Source: Falcon Intelligence Network .

Fraud Detection

M2P Fintech

JULY 11, 2023

In CFB mode, the IV is first encrypted and then XORed with the plaintext block to generate the corresponding ciphertext. In OFB mode, the initialization vector (IV) is encrypted initially, and the resulting encryption is then used to XOR with the plaintext to generate the corresponding ciphertext.

Encryption

FICO

APRIL 8, 2020

For example, this process looks to establish there is a person such as Jane Smith and that she has the corresponding attributes such as date of birth and/or social security number. It may become necessary to enroll long-term, existing customers for authentication periodically. Identity validation.

Accounts

PYMNTS

OCTOBER 28, 2019

APIs also utilize the latest level of regulated European internet security: strong customer authentication (SCA). Account information service providers will have improved account visibility, and payment initiation service providers will be able to integrate with Western Union ’s payment network and correspondent banks.

International Payments

PYMNTS

JUNE 3, 2019

Developers going forward will be able to create stand-alone apps for the device — the requirement for a corresponding iPhone/iPad app for support is dropping away. Apple CEO Tim Cook noted Apple was “also excited to announce that the App Store is coming to the Apple Watch” — presumably to support all those new stand-alone apps.

Correspondent

FICO

MARCH 18, 2020

Intelligent Orchestration of Multi-Factor Authentication. Biometric checks can certainly be robust, but no method of authentication is completely infallible — especially when you’re faced with adaptable and clever criminals. A robust identity authentication system needs the layered controls provided by multi-factor authentication.

Authentication

Neopay

AUGUST 22, 2024

The Report confirms the beneficial impact of strong customer authentication (SCA) on fraud levels. SCA-authenticated transactions featured lower fraud rates than non-SCA transactions, especially for card payments, both in terms of values and volumes.

Central Bank

Nanonets

SEPTEMBER 11, 2024

Vendor Bills Matching Purchase Orders : These bills correspond to existing POs, ensuring that the billing matches what was ordered. Setting up the NetSuite API Before you can start creating vendor bills using the NetSuite API, you'll need to set up your account access and ensure proper authentication. Create Vendor Bill Payload 1.

API

Fintech Finance

JUNE 7, 2024

It provides a robust method for ensuring that payment details and account names correspond precisely to registered account information. Moneyhub Account Verification leverages Moneyhub’s AIS API to enhance the security and integrity of online financial transactions.

Verification

PYMNTS

SEPTEMBER 19, 2019

Machine learning (ML) and artificial intelligence (AI) have been used by banks for fraud protection for several years, but these technologies are just starting to take on main roles: They are now displacing traditional knowledge-based authentication (KBA) methods like PINs and passwords.

AI

The Payments Association

MAY 16, 2025

Strong customer authentication (Ongoing 2025) Although strong customer authentication (SCA) under PSD2 has been in force for several years, the regulatory focus in 2025 is shifting from implementation to optimisation. Ensure delegated authentication, if used, meets scheme certification.

Regulations

Nanonets

OCTOBER 1, 2024

Setting up the NetSuite API Before you can start creating sales orders using the NetSuite API, you'll need to set up your account access and ensure proper authentication. Under the SuiteCloud tab, ensure that REST Web Services and Token-Based Authentication are enabled. Here's how you authenticate using OAuth 1.0:

API

PYMNTS

APRIL 1, 2020

It also allows them to choose how to direct customers to authenticate payments, such as with or without PINs. Each method uses different authentication measures and involves different risks and costs. PIN debit transactions undergo several steps before they can be completed.

Debit Card

Stax

MARCH 15, 2024

These standards help prevent card-present fraud by authenticating transactions through dynamic data authentication and cryptographic processes. This ciphertext appears as a random sequence of characters and is meaningless without the corresponding key. Two-Factor Authentication (2FA). These include: Passwords.

Process

Seon

MARCH 20, 2024

However, this expansion brings a corresponding need to evolve fraud prevention strategies to keep pace with advancing threats. The digital frontier is poised for exponential growth as advanced technologies reshape our world with innovation, convenience and efficiency.

Fraud Prevention

FICO

MARCH 23, 2021

In our experience, we typically see that the breakdown is being driven by risk tolerance and discomfort from two basic kinds of risks: (1) authentication fraud prevention (2) credit risk assessment. Does the friction in your digital channel correspond to the perceived risk level of the transaction / application?

Risk Assessment

PYMNTS

JANUARY 31, 2018

Simply put, 36 percent said the process took too long, and authentication was too time-consuming, at 20 percent. More than a third of abandonments found by Signicat were tied to the length of time it took to get things done through an online channel which proved to be too daunting, a prime mover in pushing people to quit.

Online and Mobile Banking

M2P Fintech

JANUARY 22, 2024

PNG JPEG TIFF Here, we validate the image data to determine if it corresponds to one of the supported formats using an enum class ‘ FormatType.’ ’ Once the masked image is in data format, we export it with the corresponding format types such as JPEG, PNG, or TIFF.

Correspondent

Evolve Payment

SEPTEMBER 29, 2023

Biometric Payment Authentication Will Gain Traction Enhancing payment security will remain a top priority in 2024. Biometric authentication methods, such as fingerprint recognition and facial recognition, are gaining popularity as they provide a higher security level than traditional PINs or passwords.

Industry Trends

M2P Fintech

JANUARY 31, 2024

It handles various payments, including local and internal transactions, manages unknown payments, and interfaces with back-office forms, correspondent accounts, and currency exchange modules. Payment Processing Module The Payment Processing module in a CBS ensures precise and efficient transaction management.

Fraud Detection

Global Fintech & Digital Assets

DECEMBER 11, 2023

Technical Controls The Amendments introduce a number of heightened technical controls, including: Multifactor Authentication: With only very limited exceptions, multifactor authentication (MFA) is now required for “any individual” accessing “any information system” of a covered entity.

Cybersecurity

PYMNTS

APRIL 2, 2019

Apparently,” the article stated, “no one checked first to see if these corresponded to invoices/POs that had been issued within the companies.”. Kenneth Loi, co-founder and chief customer officer of Procurify , pointed to a BoingBoing article about the incident that identified the problem.

Email Compromise

PYMNTS

SEPTEMBER 17, 2018

The messages were designed to look like authentic SWIFT communications. correspondent banks,” said the complaint. Then came the fraudulent SWIFT messages, done through remote access, where the hackers gained access to the Bangladesh Bank’s computer terminals that interfaced with the SWIFT system.

SWIFT

PYMNTS

JULY 21, 2020

Payment app providers can detect these kinds of brute-force attempts by monitoring for red flags like spikes in login attempts and significant increases in login failures, especially those involving usernames that do not correspond to any real account holders.

P2P

FICO

APRIL 13, 2022

Across Europe, research from Visa in 2021 revealed that, for now, the rise in contactless limits has not corresponded into a rise in fraud rates. With the rise of ID theft, banks invested heavily in authentication processes to ‘strengthen the locks on their front door.’ Against a total of £9.46 Take for example the growth of scams.

Contactless Payments

Exact Payments

JANUARY 4, 2024

Cardholder data, such as the primary account number, cardholder name, and expiration date, is different from sensitive authentication data like CVV, track data, PIN/PIN Block, and EMV chip data. Moreover, pairing unique IDs with robust passwords further reinforces authentication security. Protect stored cardholder data.

PCI DSS

PYMNTS

JUNE 28, 2017

He may have studied email correspondence for content and individuals’ voice profiles to see how they typically conduct payments. It can help CFOs discover and revise discrepancies in payment approval, encryption and authentications deployed, and required review or acknowledgments steps along the way.

Payments

Fintech Labs Insights

JUNE 29, 2015

Here are the key functions (numbers correspond to the red number on the screenshot right): Contact Us : This is pretty common now, but is still hard to find on some apps. The CU has a large banner directing first-time users through the authentication process. Apply : This is the big new addition, and rare among financial institutions.

Credit Union

M2P Fintech

JUNE 30, 2023

Third-Party Service Access Numerous SDKs provide consistent integrations with widely used third-party services, including analytic platforms, push notification services, authentication providers, payment gateways, and social media networks.

Payment APIs and Integration