New research shows 80% of consumers cited their bank’s ability to ensure the safety of their financial information as their greatest concern, regardless of demographic.
New research shows the average cost of a data breach to a company last year was $3.8 million, a 23% increase from 2013. About 84% of adults with incomes of $100K or more indicated that the security of their financial information was their greatest concern regarding their bank, as did 85% of adults who are college graduates.
Terbium Labs, a security software company that proactively searches for stolen data on the Dark Web using a patented, privacy-protected, data fingerprinting technique, is using the MapR Distribution as the big data platform for Matchlight, a first-of-its-kind data intelligence system.
Dublin-based Sysnet Global Solutions has launched a new out-sourced Merchant Contact Service, tailored specifically for acquiring and ISO organizations. The fully scalable, on-demand service enables acquiring organizations to respond to market conditions while also proactively engaging with customers through their customers preferred channel; phone, web-chat, email, SMS and social media.
MasterCard has opened its digital security facility to its customers. Located in England, the MasterCard DigiSec Lab is focused on proactively testing threats to all forms of digital payments in coordination with government security agencies and leading academics.
A new UK survey has found the ability to temporarily disable an account to prevent unauthorized use scored highest among the choices offered at 47.2% rating it in the highest and only 10% rating it in the lowest. At the other end of the spectrum is the ability to allow for a single use.
Chicago-based Vibes’ Catapult Wallet Manager platform now supports Apple Watch. Vibes sends more branded content (coupons, loyalty cards, etc.) to Passbook than any other tech company.
eBay released Magento Enterprise Edition 1.14.2, a Braintree extension, plus New Relic and Cloud partnerships. The combination
gives retailers greater insight into their businesses, enhance their payment and merchandising capabilities, provide an expanded mobile toolset, and offer more cloud hosting options.
Tel Aviv-based BioCatch has launched a “New Account Fraud Detection” solution which uses behavioral biometrics to detect, in real- time, when fraudsters use stolen /synthetic personal information to create a new account.
Higher competition, stringent regulations and the possibility of adverse outcomes of the ongoing litigations raise both operational and financial risks for Visa going forward. Nevertheless, Zacks Investment Research notes a strong network of merchants and updated technology should drive growth.
Bank of America has expanded it Preferred Rewards program to Michigan, Illinois, Tennessee, North Carolina, Georgia and Florida. This is part of a four-wave national rollout of the program that began in June and will be completed by the end of September.
Wallaby Financial mobile and web-based credit card optimization solutions launched Wallaby for Android Wear. The product introduction further extends Wallaby’s position as the leading provider of financial services apps for wearable devices, smartphones and web. The broad market appeal of Wallaby’s credit card optimization solutions has carried over to a broad range of form factors and feature sets including Google Glass, Pebble, and Samsung devices. Android Wear offers a number of features that enhance the inherent usability of Wallaby’s credit card intelligence and recommendations. Wallaby for Android Wear allows users to activate key commands by voice in addition to other user input techniques. The app also enables users to review their current credit utilization and available credit balances directly on their device.