Tags: Banking

Experian claims fraud costs UK £190 billion per year

Credit service agency Experian has reported that the UK loses over £190 billion per year to fraud. That staggering number comes from its Annual Fraud Indicator 2017 report. £190 billion is equivalent to £10,000 per family. It is more than 9% of the UK’s projected GDP for 2017 ($2,496 (£2,080) billion according to Statistics Times).…

Trustwave warns of new cyberattack on banks

Trustwave SpiderLabs has published details on a new banking attack it believes is set to go worldwide soon. Entitled Post-Soviet Bank Heists, the 11 page report can be downloaded from their website (registration required). In the introduction to the report it says: “…each bank compromise resulted in a significant amount of stolen funds. The actual…

Tableau acquires natural language interface

Tableau has announced today the acquisition of ClearGraph. Based in Palo Alto ClearGraph was founded in 2014 by Andrew Vigneault, CEO and Ryan Attalah. It raised $1.5 million in seed capital in October 2015 led by Accel Partners. It also won a Celent model bank award for their banking implementation in April this year. The…

Cognizant finds blockchain is key for financial services

IT services company Cognizant has just released its latest report on blockchain. It is called Financial Services,: Building Blockchain One Block at a Time. The report comes less than a week after a blog looking at blockchain and the insurance industry. Reading both pieces of work it is clear that blockchain is beginning to emerge…

Xero adds automated Stripe reconciliation

Xero has implemented automatic reconciliation for Stripe transactions. The two companies are already partners and this latest announcement tightens the integration between the two solutions even further. How Stripe reconciliation works Stripe reconciliation takes advantage of another of the Xero innovations, automatic bank feeds. When the Stripe payment comes through the bank feed Xero will match all…

TSB adds iris biometrics to mobile app

TSB is to up the pressure on other banks by introducing iris recognition for mobile customers from September 2017. It joins fingerprint security which the bank rolled out last year. The new security is being added to its online banking app but will only be available to customers using Samsung Galaxy S8 or S8+ smartphones.…

Emercoin to support cryptocurrency bank

Digital currency and blockchain platform provider Emercoin has announced it is to host the document flow for Polybius Bank. Based in Estonia, Polybius Bank is positioning itself as the world’s first cryptocurrency bank. With many countries undecided on whether to openly accept cryptocurrencies as legal tender, this is an interesting development. What is the Polybius…

Greg Wolfond talks blockchain and SecureKey

SecureKey is an identity and authentication provider. Unlike many companies in this space it is focused on consumers rather than enterprise users. At IBM InterConnect earlier this year, Wolfond announced SecureKey’s latest blockchain-based solution. It is designed to allow consumers to share sensitive information in such a way that the information stays protected. This is…

Lakeside Partners launches blockchain competition

Lakeside Partners has launched Switzerland’s biggest blockchain start-up contest. The competition is aimed at the insurance industry and carries a top prize of US$100,000. The call for entries has gone out today and entries have to be in by July 30th. The jury will select the top 50 in September and reduce that to 10…

Will Watson become your service desk?

IBM has announced that it is integrating Watson to service desks. It is offering the cognitive computing solution as a service to clients called IBM’s Workplace Support Service with Watson. Its intention it to bring the power of cognitive computing to handle the majority of support tickets once it is integrated into other automated helpdesk functionality.…