The best thing institutions like BofA could do right now is start focusing energy on community outreach and public relations, areas where credit unions and community banks are quickly building advantage.
Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
ID theft expert Joanna Crane wonders whether banks, government agencies and healthcare providers do enough to assist consumers with ID theft recovery, saying consumer expectations are often loftier than what's being done to meet the demand.
Occupy supporters plan today to protest at several banks' headquarters in NYC. Coming on the heels of cyberattacks that targeted police in Boston, how worried should banks be about growing physical threats and cyberattacks waged by Occupy sympathizers?
Phishing schemes that aim to gather credit and debit details are on the rise. The American Bankers Association offers tips on exactly what you should tell your employees and customers about the latest scams.
The U.S. explosion in card skimming will be the ultimate catalyst for change from mag stripe to chip and PIN technology. "I do believe that shift has begun," says SVB's Pradeep Moudgal. "Everyone wants to be in a much more secure environment."
Facial recognition, arguably, is the technology that most threatens individual privacy online, and that's on the mind of Senate Commerce Committee Chairman Jay Rockefeller, who has asked the FTC to report on its growing use.
While the debate over privacy swirls, the actual voice of the consumer is rarely heard. Until now. And what the consumers have to say in new research about privacy notices and data usage may surprise you.