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News and resources on cyber and physical threats to banks and fintechs worldwide.

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Expert opinions

Perry Carpenter

Perry Carpenter Chief Human Risk Management Strategist at KnowBe4

How Scammers Use the 3N Model to Deceive Users

Let’s face it, we live in a world where technology reigns. And, in this world, senior leaders face increasingly sophisticated scams targeting both their personal and organisational assets. Understanding the mindset of the “bad players” behind these deceptions is your first line of defense. Cybercriminals don’t only target your technology. They kno...

/security Information Security

Frank Moreno

Frank Moreno CMO at Entersekt

Banks must rethink how they protect SMB clients

Banks have traditionally focused on servicing enterprise clients or individuals, expecting small and medium businesses (SMBs) to fit in and find an offering that best suits their needs. But the rapid rise in fraud aimed at smaller businesses requires a solution that is appropriate for SMB clients, which remain the growth engine for many banks – an...

/security /retail Banking

Steven Rackham

Steven Rackham CTO for Financial Services at NetApp

How DORA compliance future-proofs your organisation

As of the 17th of January 2025, financial services organisations operating within the EU must comply with the Digital Operational Resilience Act (DORA). This mandates that they must adopt robust risk management and prevention frameworks to boost their resilience against cyber-attacks. As cyberattacks and threat actors become more advanced, it is a...

/security /regulation

Dominic Mensah

Dominic Mensah Director Strategic Accounts at Lakeside Software

How AI-driven endpoint monitoring mitigates the risk of IT outages in financial firms

Nine major banks and building societies operating in the UK accumulated at least 803 hours - the equivalent of 33 days - of tech outages in the past two years, figures published by a group of MPs show. This recent spate of outages in banking apps and services has resulted in a push from UK MPs, who are now demanding that banks and building societ...

/security /cloud Data Management and Governance

Neil Kinnaird

Neil Kinnaird Managing Director at DigtialKit Solutions

Why Digital Identity is the Future of Fraud Prevention

In today's digital first age, the rise of online transactions and services has brought unprecedented convenience. However, it has also opened the door to sophisticated fraud schemes. As cybercriminals become more adept at exploiting vulnerabilities, the need for robust fraud prevention measures has never been more critical. Enter digital

/security /identity Fintech

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Trending

Perry Carpenter

Perry Carpenter Chief Human Risk Management Strategist at KnowBe4

How Scammers Use the 3N Model to Deceive Users

/security

Research

Survey

US Regulation Survey 2025: Compliance at a Crossroads

Assessing financial industry preparedness in a shifting US regulatory landscape as organisations struggle with deadlines, cost, and technology. In an environment of rapidly evolving regulations, driven by legislative and policy shifts at the federal and state levels, the US regulatory landscape is marked by complexity and uncertainty. Understanding the level of preparedness across industries is crucial for ensuring compliance, mitigating risk, and enhancing operational efficiency. This survey was conducted at the beginning of 2025, gathering financial services industry sentiment as the Trump Administration took office and began pivoting on key regulatory elements. With the US financial regulation regime also somewhat in limbo, that uncertainty was – and is – increasingly impacting the views of the 200 organisations surveyed. Analysis of our survey responses provides a comprehensive overview of the state of regulation readiness in the US, differences in reporting obligations, the impacts of automation for compliance, the roles of technology and data, and industry plans for modernisation. We explore: Which regulations will have the biggest impact on US financial services in 2025; Regulatory effects on organisational frameworks, budgets and staffing; How organisations are leveraging technology and partnerships to streamline regulatory compliance.

175 downloads

Event Report

Risk-based authentication: Enhancing security and user experience in fraud prevention

In today’s rapidly evolving digital landscape, the importance of robust cross-channel authentication cannot be overstated. As businesses and consumers increasingly interact across multiple platforms, ensuring secure and seamless authentication processes is paramount.  Online platforms have become integral to modern financial activities, which necessitates secure and seamless transactions, backed up by robust authentication mechanisms. Risk-based authentication offers a dynamic security approach, balancing user convenience with stringent fraud prevention.  The integration of cross-channel data and advanced technologies like machine learning (ML) and artificial intelligence (AI) is vital, as well as access and understanding of data. High-quality data is the cornerstone of effective fraud prevention and detection, which is why organisations must invest in robust data engineering practices to ensure collected data is accurate and well-labelled.  This investment enables the development of sophisticated models to better identify and prevent fraudulent activities. Prioritising data quality enhances fraud prevention strategies, protecting businesses and their customers from potential threats.  So how can organisations holistically address risk-based authentication in a dynamic world? This webinar report summarises the discussion of a Finextra webinar, hosted in association with Mastercard, and explores:  Risk-based authentication in fraud prevention;  Adapting fraud prevention to evolving threats;  Advanced authentication strategies for corporate fraud prevention;  Digital IDs, channels, and exclusion. 

270 downloads

Impact Study

Cross-border payments: How is the market addressing G20 targets?

This impact study explores how far along the G20’s cross-border roadmap firms have travelled; why cutting-edge technology platforms are imperative in today’s instant payments world; as well as how financial leaders can go beyond the G20’s objectives, in order to ensure prosperity for the coming decade.  The cross-border payments market is one of the fastest growing money movement markets in the world. It reached $150 trillion in 2017, and by 2027 is expected to reach $250 trillion – a rise of over $100 trillion in just ten years. There are several factors that have led to the increase in global remittances, be they wholesale or retail in origin, including expanding supply chains; globalised investment flows; international trade and e-commerce; as well as the increased global movement of people, resulting in more money being sent across borders.  While cross-border payments are booming, many financial institutions are still struggling to keep their technology platforms up to speed, and the drive toward real-time is having deep ramifications for organisations’ operations. To address these challenges, a gathering of some of the world’s largest economies, known as the Group of Twenty (G20), set out a roadmap in 2021 to improve cross-border payments.  Also providing impetus for widespread modernisation are mandated initiatives like new, and continually evolving, ISO 20022 message and data standards and the European Union (EU)’s Digital Operational Resilience Act (DORA) – forcing players in the highly-competitive payments space to invest in smarter services, customer centricity, and on top of that, become the engines of growth.  This Finextra impact study, produced in association with Temenos, explores:   A status update on the G20 cross-border targets;  The need for modernisation - an overview of other factors affecting cross-border payments;  A roadmap for change beyond G20;  Real-life case studies. 

474 downloads

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FinextraTV

Digital Transformation: Get a Handle on Your Data First

In this FinextraTV interview, Arsalan Minhas, AVP, Sales Engineering EMEA & APAC, Hyland and Matt Bazley, Account Executive, Hyland explain the evolution of digital transformation. Whilst discussing the usage of AI, blockchain and new-age technologies, they also define the importance of well-structured, transparent and secure data as a first priority

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Long reads

Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

Where’s the first stop for financial trust? Our guts!

As we outlined in a previous Finextra story, financial services ‘schemers’ and ‘scammers’ can come in many different shades. Indeed, victims of online fraud and illegal schemes lose money every day to not just criminals and nefarious enterprises, but also to supposedly ‘above-board,’ legitimate products and their purveyors. To help avoid non-crim...

Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

How to avoid online scams and hype: Is reading the ‘fine print’ enough anymore?

Why do people keep losing money from schemes, scams, and ‘too good to be true’ offers in what is probably one of - if not the most - heavily regulated sectors of the economy? 2024 saw a continuing increase in fraudulent scams and a parade of disappointing (or damaging) online product offerings, including in the financial services marketplace. As...

Scott Hamilton

Scott Hamilton Contributing Editor at Finextra Research

Cyber-attack case studies: Data, costs, and solutions

Invite 165 or so treasury managers and other financial leaders and practitioners in a room, tell them you’re going to put them through a cyber-attack simulation, and advise that their actions will directly influence the exercise’s ultimate outcomes. Will they agree to do it? Of course they will! Especially since, according to an IBM study cited...