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

ECB moves to securing mobile payments

The ECB published its recommendations for the security of mobile payments last week last week. Although unrelated, this latest set of recommendations shows how Governments and Central Banks (US Federal Reserve Banks recently announced a public consultation exercise on improving the future U.S. payment system, and the newly formed Financial Conduct...

10 December 2013 /security Innovation in Financial Services

Brett King Raises an Interesting Point...

Brett King’s recent article on ‘Banking’s new playground’ raises some interesting points as to ‘how Africa will show the way’. Smart phone penetration in Africa is currently less than 15% and projected to be an estimated 40% by 2017. This means that mobile banking and payments service providers will have to service both Smart phones and Feature p...

10 December 2013 /payments Innovation in Financial Services

Standing Still on Security Inhibits Development in Payments

I read an interesting piece earlier last week on imrg.org (the website of the UK Online Retail Association) arguing that consumer concerns over security could inhibit the adoption of many new payment methods and technologies. It said that despite dramatic increases in technologies that would allow for smoother and more convenient payments, consu

06 November 2013 /security /payments Innovation in Financial Services

Solution to improving the payments ecosystem? Collaboration

The US Federal Reserve Banks recently announced a public consultation exercise on improving the future U.S. payment system. In the U.K., the newly formed Financial Conduct Authority (FCA) has also just published an interim report exploring some early findings of a review into mobile banking services, setting out the possible risks to consumers and...

02 October 2013 /security /payments Innovation in Financial Services

FCA needs to think about mobile telecommunications

The UK's Financial Conduct Authority (FCA) has published an interim report exploring some early findings of a review into mobile banking services, setting out the possible risks to consumers and areas that firms should consider when developing their services. When it comes to financial services, consumers want convenience and security. Mobile can ...

03 September 2013 /security Innovation in Financial Services

USD300million and rising, will security catch-up?

The breaking news from the US indicating that over 160million credit and debit card numbers have been stolen, whilst not unpredictable, is still quite staggering. Early estimates suggest around $300 million dollars has been stolen, but this figure looks likely to increase dramatically. It appears that a group of criminals utilising malware to in

29 July 2013 /security Innovation in Financial Services

Privacy and security dont have to be mutually exclusive

I was interested to read the article ‘Brits relaxed about banks mining data to fight fraud’. It provides an interesting perspective on the growing debate regarding the need for strong data privacy as well as strong transaction security, particularly within the finance sector, and especially as the means by which we conduct our banking and transac...

10 July 2013 /security /payments Innovation in Financial Services

Slowly but surely, SIM Swapping is moving up the fraud chain

I am still finding it hard to meet industry people who know much about SIM Swap fraud. The latest report on the ABSA and MTN initiative shows the urgency of getting to grips with this insidious and not-too-well-understood fraud vector. If you don’t know about SIM Swap fraud, it is committed when a fraudster, using social engineering techniques, du...

03 June 2013 /security Innovation in Financial Services

Latest ATM Fraud: another 45 million reasons for change

Once again we have been reminded of the vulnerability of financial institutions to credit card fraud. Last week we saw the news that a large gang of thieves (a number of whom have just been arrested in New York) managed to steal an enormous $45 million from thousands of ATMs in just a matter of hours. This latest crime may have been complex in it...

17 May 2013 /security Disruption in Retail Banking

Can voice biometrics help banks restore consumer faith?

This survey from Avaya and Sabio caught my eye recently as it shows how concerned consumers are about data privacy and security. And it is an unfortunate fact that financial institutions are the ones that consumers trust less with their personal information. Essentially, the survey shows that (1) customers feel that giving a call centre operator ...

10 April 2013 /security Disruption in Retail Banking

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