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

Target breach is bad news for the industry

Once again we are sadly reminded of the vulnerability of businesses to data breaches, and we are left with 40 million customers fearing that their credit cards will be hijacked by fraudsters just in time for Christmas. There has been a consistent rise in cyber-crime in the past few years, and traditional security solutions have proven to be inadequ...

30 December 2013 /security Innovation in Financial Services

Finding security in digital currencies

Digital currencies such as Bitcoin have been capturing the attention of the world’s financial and technology press for some time, both in a positive and negative manner. Digital currencies are here to stay, it’s inevitable, and these virtual currencies are at an inflection point and already playing an increasingly apparent role in the daily tradin...

18 December 2013 /security /payments Innovation in Financial Services

Tis the season to be jolly - Ho Ho Hopefully!

The UK’s Fraud Prevention Service wants to remind Christmas shoppers to be ultra-prudent with their personal and financial details. The numbers show an increase of 23% in the number of victims of account take over in the last two months alone which is quite a staggering increase really. Such numbers clearly show that hackers, fraudsters, cyber-cr...

16 December 2013 /security Innovation in Financial Services

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

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