According to the 2017 Debit Issuer Study, commissioned by PULSE, one of the nation’s leading debit/ATM networks, U.S. financial institutions substantially increased issuance of chip debit cards in 2016 and experienced reduced fraud losses.
Robert Half’s new report, Digital transformation and the future of hiring has found that digital processes will be extended to manual, data entry tasks such as financial modelling (41%), generating financial reports (40%), project management and reporting (38%) within the next three years. As a result, payroll (37%), financial planning (33%), accounts payable (38%) and accounts receivable (32%) are expected to be the roles impacted by automation by 2022.
Wolters Kluwer’s Finance, Risk & Reporting business is this year’s winner of Corporate Vision magazine’s “Most Innovative Integrated Regulatory Compliance & Reporting Platform” award. The publication has awarded the firm’s OneSumX suite the global accolade for 2017 as part of its annual Technology Innovator Awards – the second year running that Wolters Kluwer has triumphed in the award series.
Big data is still big news. For the insurance industry, it’s not just a lot more data although that is part of it; it is data that permits an unprecedented degree of analysis. Only now have we reached a point where data and technology are capable of making use of information we can gather.
Card fraud has increased 19% year on year, according to The Nilson Report, accounting for losses of around$21.8 billion, in 2015. France has seen an 8.9% increase in card fraud and the USA, which has the largest fraud/loss ratio, currently accounts for 47.3% of the world’s payment card fraud losses.
Management and technology consultancy BearingPoint, which ranks among the leading providers of regulatory and risk technology (RegTech/RiskTech), announced that BNG Bank has selected its flagship product ABACUS/Transactions as a Regulatory-as-a-Service (RaaS) solution to fulfill several types of transaction-based reporting obligations without needing to have multiple data deliveries.
A computer researcher who gained global recognition for his role in halting the Wannacry ransom attack on UK hospitals has been arrested in the US on charges that he was the chief architect of the Kronos banking trojan.
Sixty-two percent of European financial institutions expect to increase spending on payments technology throughout 2017, driven by the revenue-generating opportunities of instant payments and the need for increased operational efficiency.