Latest Authentication News: Finextra Research

LexisNexis Risk Solutions and Finextra Research partner for Trust:Live 2023

LexisNexis® Risk Solutions and Finextra Research will be hosting Trust:Live 2023, an exclusive in-person event for all fraud and identity decision makers that brings together industry leaders, experts and innovators to discuss the latest challenges in establishing trust to protect customers, defend brands, or meet the needs of evolving business models

31 January 2023

News/crime

Thousands of PayPal users victim of data breach

The accounts of 34,942 PayPal users were hacked between the 2nd and 6th of December 2022 by unauthorised parties through a credential stuffing attack. Hackers potentially gained access to customers’ personal data, including their name, address, date of birth, tax ID number, and social security number.

20 January 2023

News/security

Macron advocates for online child safety initiative

French President Emmanuel Macron has launched the Children Online Protection Laboratory to protect children from potential online threats and cyberbullying by monitoring harmful content.

11 November 2022

News/crime

EBA publishes fraud taxonomy

The Euro Banking Association (EBA) has made its payment fraud taxonomy available to the public in a bid to curb the rising threats to the European payments system.

28 October 2022

News/security

PayPal lets Apple users ditch passwords for passkeys

PayPal is taking a major step away from passwords, giving users the option of logging in to their accounts with the new industry standard passkey.

24 October 2022

News/security

FSB bids for greater convergence in cyber incident reporting

The Financial Stability Board (FSB) has set out proposals to ensure greater convergence in cyber incident reporting.

18 October 2022

News/crime

UK payment fraud losses show decline

UK Finance has re-iterated its call for cross-sector action to tackle criminal gangs perpetrating large scale fraud in the UK, as figures for the first half of 2022 show that a total of over £609.8 million was stolen through scams.

13 October 2022

News/security

Banks prepare for cyber-battle to promote cybersecurity awareness

To mark cybersecurity awareness month in the US, this October financial institutions are planning a series of tournaments and events to raise awareness around cyber security issues.

30 September 2022

News/regulation

FCA’s amendment to the 90 day PSD2 rule comes into effect

The update will further streamline users’ ability to confirm data access for open banking services.

30 September 2022

News/payments

Revolut unveils online checkout feature

Fintech superapp Revolut is taking on PayPal with its own one-click payment checkout feature for online purchases.

12 September 2022

News/startups

Griffin launches API-first BaaS platform Verify

London-based Banking-as-a-Service (BaaS) provider Griffin has launched Verify, a customer onboarding product to assist fintechs manage crime risks and KYC and KYB automation.

07 September 2022

News/security

N26 takes the offensive against phishing scams

Digital transformation of the financial industry has led to a major rise in global phishing scams and cyber-attacks. In order to protect consumers from falling victim to fraud, banks must enhance security protocols.

07 September 2022

News/security

CBA boosts AI tech for scam protection

The Commonwealth Bank of Australia (CBA) is boosting AI technology across its digital banking platforms in efforts to stamp out “disturbing” scams targeting their customers.

04 July 2022

News/regulation

EBA calls for PSD2 and E-Money Directive to be merged

PSD2 should be merged with the Electronic Money Directive, says the European Banking Authority (EBA) in response to the EC's call for feedback on the directive.

23 June 2022

News/regulation

Stripe launches authentication feature for fast SCA checkout

Stripe has signed up Wise as the first user of a new biometric delegated authentication feature for strong customer authentication (SCA) transactions.

08 June 2022

News/identity

Identity verification provider ID-Pal launches in the UK

ID-Pal, the identity verification provider, has announced it is entering the UK market after six years of growth across Ireland, the US and the EU.

13 May 2022

News/security

Nationwide stops 2000 more frauds a month with SCA rules

Nationwide Building Society says that the introduction of Strong Customer Authentication (SCA) rules in March is helping it stop 2000 cases of online card fraud a month.

11 May 2022

News/security

UK retailers lost £130 million in sales in first month of SCA rules

New data from Barclaycard Payments reveals UK retailers have so far lost out on £130m worth of sales as a result of not being fully compliant with new Strong Customer Authentication (SCA) rules which came in to effect last month.

14 April 2022

News/startups

BBVA fund invests in LatAm authentication startup Truora

BBVA investment fund Propel has lead a $15 million financing round in Colombian authentication startup Truora.

11 April 2022

News/identity

US banks back ID verification service

Some of America's biggest lenders have joined forces with Early Warning on a service that lets people use their bank login details to verify their identity when using participating business' sites and apps.

06 April 2022