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Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

CIO Business Intelligence

Digitalization is a double-edged sword for banks, especially when it comes to security. As financial services become more digital in nature, it’s important that banks think differently when using data analytics, security tools, and education to improve identity authentication and customer data privacy.

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Mobile Malware Uses Deepfakes, Social Engineering to Bypass Biometric Authentication

SecureWorld News

A sophisticated form of mobile malware dubbed "GoldPickaxe" has been uncovered, which collects facial recognition data to produce deepfake videos, enabling hackers to bypass biometric authentication protections on banking apps. Experts warn that biometric authentication alone is not foolproof.

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Madrona backs WaFd Bank spinout developing consumer software for regional banks

GeekWire

(Archway Photo) Key Takeaways Archway , spun out of Washington Federal (WaFd), provides digital banking infrastructure to regional banks. The Seattle-area startup raised $15 million in a round co-led by WaFd Bank and Madrona Venture Group. The goal is to help community banks stay competitive with giants like J.P

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Lloyds Bank tests biometric authentication from Microsoft

Computer Weekly

Banking group is trying out enterprise-grade biometric authentication for its online customers

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Beware of Bank of America data breach if you own an account

Dataconomy

Bank of America data breach has been confirmed by the officials and customers are worried. One of the most notable recent cases is the Bank of America data breach, which underscores the importance of cybersecurity vigilance and the ongoing need to protect your personal information. What information was exposed?

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Bank of America lowers security – removes one time passwords at payee add/change

Forrester IT

With the latest change to the BofA online banking bill pay service (which added all sorts of unnecessary and distracting icons and ugly fonts), the bank decided to remove the one time password two factor authentication (OTP 2FA) requirement to force the customer to perform a one time password based step-up authentication before allowing the […] (..)

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Making Banking a More Effortless Experience

CIO Business Intelligence

Along with nearly every other industry, banking is facing greater competitive pressure than ever. As banks continue to face this reality, they’re also tasked with addressing a variety of rapidly changing issues, including those surrounding data protection, adoption of cryptocurrency, and anonymizing data (AI models). .

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