Bank Automation

JANUARY 17, 2024

In 2023, financial institutions continued to look to third-party vendors for innovative solutions to enhance their offerings. A December report by Scottdale, Ariz.-based based bank and fintech advisory company Cornerstone Advisors of Arizona said U.S.

Third Party Vendors 75

Third Party Vendors Transactions Advisors AI 75

Bank Automation

APRIL 12, 2024

based bank INB relies on third-party vendors to build most of its technology, then customizes it to meet the needs of INB its clients. “For Springfield, Ill.-based For our size, we need a good partner,” Chief Operating Officer Mark Donovan told Bank Automation News.

Third Party Vendors 72

Third Party Vendors Technology Automation AI 72

Fintech News

FEBRUARY 21, 2024

MAS’ advisory outlines several key measures for FIs • Stay informed about quantum computing advancements and understand the cybersecurity risks they pose. • Ensure senior management and third-party vendors are aware of the quantum threats and the importance of transitioning to quantum security solutions. • Work with IT vendors to assess and (..)

Third Party Vendors 111

Third Party Vendors Cybersecurity Mitigation Encryption 111

The Fintech Times

MARCH 13, 2025

Businesses also need to ensure that their third-party vendors meet regulatory standards. Without this, vendors could become a significant blind spot in an organisations risk management framework. Achieving DORA compliance is just the first step.

Third Party Vendors 64

Third Party Vendors Compliance Non-Bank Mitigation 64

Bank Automation

NOVEMBER 6, 2024

Citizens Bank is moving away from third-party vendors and launching in-house solutions to simplify its account opening process.

Third Party Vendors 52

Third Party Vendors Accounts Automation Process 52

PYMNTS

JANUARY 20, 2021

The EU announced formal antitrust probes into Amazon , questioning its responsibility to third-party vendors versus itself as a rival on the platform. Congress has also looked into accusations that Amazon abuses its position as an online platform. .

Third Party Vendors 78

Third Party Vendors Regulations Authorization Laws 78

The Fintech Times

FEBRUARY 27, 2025

One way to structure some of what were seeing is by walking through the life cycle of a purchase with a third-party vendor. “Second is procurement and vendor management. In other words, its easy to envision how you can teach computers to assist with them.

AI 76

AI FinTech Fraud Detection Automation 76

PYMNTS

NOVEMBER 10, 2020

At issue is Amazon’s parallel responsibility to third-party vendors as an eCommerce ecosystem, and to itself as a rival on the platform with competing merchandise, the sources told FT. .

Federal Trade Commission 74

Federal Trade Commission Third Party Vendors Compliance Settlement 74

PYMNTS

APRIL 18, 2017

Said Hudson, smaller firms with smaller staffs and perhaps just a single dedicated cyber risk professional, or with one or two parties with significant oversight of payments processes, can be at greater risk for fraud. At a minimum, you need [cyber]insurance,” along with monitoring of third party vendors.

Cybersecurity 66

Cybersecurity Third Party Vendors Breach Regulations 66

PYMNTS

SEPTEMBER 19, 2019

“In the digital age, the only players that will maintain client contact are those who can offer the best products, even if they are provided by third-party vendors.” ” Deutsche Bank joins almost 100 financial institutions from 18 countries using the Deposit Solutions platform.

Third Party Vendors 75

Third Party Vendors FinTech Product Acquirers 75

PYMNTS

FEBRUARY 25, 2020

A new Walmart service will let third-party vendors hire the retailer to shelve, pack and ship items to customers in a move that could help Walmart compete better with eCommerce giant Amazon, CNBC reported.

Third Party Vendors 51

Third Party Vendors On-Demand Returns Process 51

PYMNTS

FEBRUARY 28, 2019

which suffered a data breach last year as the result of a cybersecurity incident at a third-party vendor. T-Mobile ‘s breach in 2015 that compromised the data of 15 million customers was the result of a third-party security lapse, too. Such cases have been reported at Ticketmaster U.K.

Risk 65

Risk Data Breach Third Party Vendors Cybersecurity 65

FICO

AUGUST 4, 2020

This information is used to train a machine learning model that produces a risk score that forecasts the likelihood of a future breach event for a given company or its third-party vendors.

Risk 52

Risk Third Party Vendors Risk Assessment Security 52

PYMNTS

JULY 7, 2020

“But trying to develop backend solutions for supporting eCommerce workflows such as payment systems integrations, third-party fulfillment or re-marketing tools is not the best use of internal resources,” he said.

Third Party Vendors 84

Third Party Vendors Visa Rules Technology 84

The Finance Weekly

JULY 7, 2022

In the beginning of 2020, many vendors moved quickly to remote work models and reconfigured service delivery models, and some organizations even accepted short term violations of their third-party risk management policies in order to avoid business disruptions as much as possible.

Risk 130

Risk Cybersecurity Risk Management Third Party Vendors 130

PYMNTS

JULY 3, 2019

The judge said Amazon might be liable because the company’s business model “enables third-party vendors to conceal themselves from the customer, leaving customers injured by defective products with no direct recourse to the third-party vendor.”.

Third Party Vendors 44

Third Party Vendors Product Rules Laws 44

PYMNTS

AUGUST 23, 2019

Mastercard said in a statement that the incident “has no connection to Mastercard’s payment transaction network … there was an event involving the Specials loyalty platform in Germany managed by a third-party vendor, which resulted in the unauthorized distribution of certain information.”. “We

Breach 61

Breach Visa Third Party Vendors Third-Party Service Provider 61

The Payments Association

NOVEMBER 12, 2024

In contrast, third-party vendors offer solutions that have been tested across various environments, allowing for a more robust and reliable product. As vendors serve multiple clients, their systems undergo extensive real-world testing, significantly reducing the likelihood of unforeseen issues.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention Compliance 88

PYMNTS

OCTOBER 20, 2020

Prior to Wing, Masud was chief technology officer at Staples, where he was responsible for building out the third-party vendor platform. He also spent seven years at Amazon, where he built Amazon Warehouse and Amazon’s Reverse Logistics platform and was part of the AmazonBasics founding team.

Third Party Vendors 95

Third Party Vendors Technology Product API 95

The Fintech Times

JUNE 29, 2024

Ross Lancaster head of research at Acuiti “For firms that are not already operating under MIFID II, MiCA will present a significant operational lift to become compliant, and it is no surprise that we found that firms were looking to third-party vendors to assist them in their preparations,” says Ross Lancaster headof research at Acuiti.

Stablecoins 138

Stablecoins Regulations Compliance Cryptocurrency 138

PYMNTS

MAY 2, 2019

.” The company also recommends that businesses consider cyber insurance “and other forms of indemnification,” and explore the New York Department of Financial Services’ Cybersecurity Rules, specifically its third-party vendor cyber requirements.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

AUGUST 13, 2018

“Historic compromises have included small to medium-[sized] financial institutions [FIs], likely due to less robust implementation of cybersecurity controls, budgets or third-party vendor vulnerabilities.

FBI 58

FBI ATM Scams Third Party Vendors 58

Finovate

SEPTEMBER 4, 2024

.” Third party risk management is a hotter topic than ever in today’s banking and fintech landscape, especially as the number of banks hit with consent orders rises due to regulatory breaches and compliance issues.

Risk Management 59

Risk Management Risk Due Diligence Acquirers 59

The Fintech Times

JUNE 7, 2024

The copilot plug-in is system-agnostic, acting as one central copilot that can be used on top of all web-based enterprise applications, pulling data from any system including Customer Relationship Management (CRM) systems, case management systems, third-party vendors, and Excel documents.

Financial Crimes 64

Financial Crimes Crime AI Third Party Vendors 64

PYMNTS

JULY 12, 2017

Since its 2015 inception, Amazon has generated massive amounts of money by offering up discounts on its tech devices and third-party vendor’ products. It’s no secret that Amazon’s Prime Day has become a highly sought-after shopping day for consumers over the last few years.

Third Party Vendors 40

Third Party Vendors Product Consumer 40

PYMNTS

APRIL 10, 2017

New York rules for banks and insurers include stipulations that firms must scrutinize all third-party vendors that provide them goods and services. Vullo made the remarks to a task force of state insurance commissioners who are struggling with crafting cybersecurity regulations.

Cybersecurity 44

Cybersecurity Regulations Third Party Vendors Risk Assessment 44

PYMNTS

OCTOBER 25, 2018

The data, which was processed from 2007 through 2014, was accessible to developers of third-party vendors without the Facebook users providing consent. .” CNBC , citing the ICO, reported that the government watchdog alleged Thursday (Oct. 25) that the personal information of one million or more U.K.

Third Party Vendors 53

Third Party Vendors Privacy Breach Agreements 53

PYMNTS

NOVEMBER 15, 2016

Some are quite technical — like implementing antivirus software or encrypting data — and may require assistance from third-party vendors. At a glance, NIST’s suggestions for how an SME can implement a cybersecurity strategy include a variety of approaches. Others, however, are more behavioral.

Security 76

Security Cybersecurity Small Business Third Party Vendors 76

PYMNTS

JUNE 29, 2018

disclosed it had suffered a data breach, the company also revealed the cause of the cybersecurity incident: a third-party vendor. When Ticketmaster U.K. As the latest breach to hit a major, global conglomerate, the attack on Ticketmaster highlights the growing threat of cyber-weaknesses down a company’s supply chain.

Cybersecurity 49

Cybersecurity Breach Risk Third Party Vendors 49

PYMNTS

MARCH 8, 2019

million through a program he had set up to find and commission third-party vendors, amid deal-making for products used in Cisco manufacturing efforts. Former Global Supply Chain Director Prithviraj R. Bhikha was accused of bilking the company of as much as $9.3

Third Party Vendors 59

Third Party Vendors Phishing Due Diligence Push-to-Card 59

The Paypers

FEBRUARY 22, 2021

has announced it was among the victims of a data breach involving a third-party vendor’s file-transfer service.

Data Breach 28

Data Breach Breach Third Party Vendors 28

PYMNTS

NOVEMBER 22, 2019

“Is it something that we can look at the governance structure at these third-party providers? The Bank Service Company Act gives financial regulators the power to audit third-party vendors that offer banking services, Ashton said. Can we look at their overall compliance management program?”.

Federal Reserve 46

Federal Reserve Fed Third Party Vendors Security 46

PYMNTS

OCTOBER 30, 2020

Strategic sourcing will also be key for organizations looking to outsource more work to contractors and third-party vendors, while risk mitigation, said Allis, will increasingly involve analysis of organizations' environmental and safety policies and procedures.

Risk 73

Risk Third Party Vendors Risk Management Risk Mitigation 73

The Paypers

DECEMBER 5, 2018

(The Paypers) Feedzai has released Risk Ledger, a financial crime prevention tool that uses federated data from Feedzai’s diverse customer base and third-party vendors.

Financial Crimes 28

Financial Crimes Third Party Vendors Crime Risk 28

Fintech Finance

MARCH 5, 2024

Spencer Hanlon, Global Head of Travel Payments at Nium, said: “For too long, the travel industry has retrofitted outdated payment methods to its unique ecosystem of travellers, tourism suppliers, and third-party vendors.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Third Party Vendors Payments 52

PYMNTS

APRIL 16, 2019

The Italian watchdog said in a press release that it is looking into allegations that Amazon only granted enhanced visibility on the website to third-party vendors using its logistics service.

Authorization 43

Authorization Third Party Vendors Regulations Government 43

FICO

FEBRUARY 24, 2016

I’m offering 10 tips — things most vendors won’t tell you that are absolutely critical to selecting the right system. Can the selected vendor? Is there a third-party vendor that can get at your data and provide it to your new vendor? How do data extracts work — and how much will they cost?

Third Party Vendors 40

Third Party Vendors Mitigation Posting 40