Latest opinions that Pat Carroll has shared on Finextra

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Pat Carroll

Founder/Executive Chairman

ValidSoft

Member since

17 Mar 2011

Location

London

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Pat's opinions

Complaining in public

I was interested to hear this week that the US consumer watchdog, Consumer Financial Protection Bureau, has launched a public website that publishes consumer's complaints about credit cards. Interested because this is a novel approach which attempts to put the customer first and follows a spate of high profile data breaches which have forced the g...

21 June 2012 /security Innovation in Financial Services

Securing our social media identity

We now live in the age dominated by social media networking channels in which people feel compelled to tell the world intimate details of their daily lives. This inevitably leads to a tendency to over-share which can cause a whole range of issues, from burglars being able to target the houses of those on holiday, to others unwittingly sharing thei...

19 June 2012 /security /retail Innovation in Financial Services

Shaping the future of mobile banking

I took part in a panel debate on the future of mobile banking this week and it was a delight to hear the debate on what mobile banking might shape up to be. It is obvious that mobile banking is still in its embryonic stage, and there was a lot of talk about what the winning strategies might be for cracking this market. Aman Narain, from Standard Ch...

01 June 2012 /security Innovation in Financial Services

Securing faster payments

The world is moving faster − the payments world that is. The smartphone has revolutionised the way we live, the way we pay for things and the way we bank. The payments and banking industry has stepped up a gear and turned the process up a notch, making our lives much more convenient. Banks are beginning to wake up to their customers’ 24/7 demands ...

24 May 2012 /security /payments Innovation in Financial Services

MITB type attacks put customers off banking online

The fact that 64 % of respondents cited security concerns as a factor preventing them from migrating wholly to online banking doesn’t come as a surprise to me. Why? Because what we’re hearing from the market is that these types of attacks are definitely on the increase. The security threat in the online channel has never gone away. As anyone who’s...

22 May 2012 /security Online Banking

Keep it private

I found the recent study by University of California, Berkley (UCB) on Mobile Payments: Consumer Benefits and New Privacy Concerns an interesting read (see news report here). It found that an overwhelming 96% of customers surveyed opposed the idea of handing out personal details to retailers when they buy goods using a mobile phone. Whilst retailer...

08 May 2012 /security /payments Innovation in Financial Services

Casting a vote in the race towards American mobile payments

The 57th presidential election might be one of the most talked about contests in the U.S. this year, but if you really want to see some action it’s the U.S. payments space where your attention needs to be. The way things have been shaping up over the last few months, by the time the next president knocks on the door of the White House, there will ...

30 April 2012 /security /payments Innovation in Financial Services

Computer, don't say No to online shopping

I’m really pleased that MasterCard has developed a fraud detection service for online merchants that could realise a potential for 15-30% fraud loss savings. Whilst it’s a step in the right direction for the ever growing e-commerce world, even with these % improvements in fraud discovery, the false positive % are still way too high. A false posit...

03 April 2012 /security /retail Innovation in Financial Services

A Call to Action on cybercrime!

Two interesting stats have caught my eye this week: Fraudsters are costing the UK an estimated £73billion a year (National Fraud Authority, NFA) Cybercrime has now become the second most commonly reported economic crime affecting companies in the financial services sector (PWC) While counter-fraud groups such as the NFA’s ‘Fighting Fraud Togeth...

30 March 2012 /security /payments Innovation in Financial Services

Trust is the key!

NFC contactless payments, and P2P mobile payments are fast gaining momentum in the payments world. Banks, retailers, network operators, amongst others are all rushing for land grab, rolling out new NFC-enabled cards, mobile wallets and mobile phones for us to use in our daily lives. It’s fantastic that we are embracing this technology, and I truly...

29 March 2012 /security /payments Innovation in Financial Services

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