Retailers in the U.S. and the U.K. have implemented security checks, such as 3D Secure and Verified by Visa during the online checkout process. Unfortunately, the checks may hinder the shopping experience which can translate into lost sales according to ZDNet. In the U.K., 18 percent of online shoppers abandoned their baskets due to "excessive [...]
How did the U.S. banking industry look in the first quarter of 2016? According to the Financial Times, the six biggest U.S. banks have suffered their steepest decline in quarterly revenues since 2011, after a profound slump on Wall Street overshadowed a boost from their consumer businesses. JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, [...]
It seems like every time you listen to or read the news there is another company dealing with a cybersecurity breach. So, how have insurance policies helped companies handle these breaches? To date, this has not been overly clear. As the Department of Homeland Security National Protection and Programs Directorate explains, traditional commercial general liability [...]
How has the implementation of EMV chip cards gone in the U.S. given the October 2015 deadline? There appears to be more work that needs to be done. According to a recently published piece by Greg Buzek, President of IHL Services, only 8.5 percent of merchants are able to accept the new cards, which [...]
Financial technology (fintech) companies are threatening banks on many fronts according to American Banker. While this is true, it is in peer-to-peer (P-to-P) payments that banks may be most at risk. Banks may not have much time to reverse this trend. The advantages they have are their legacy as well as the history and trust [...]
What are telematic devices? Why would insurance companies and consumers care about them? According to Gartner, telematics refers to the use of wireless devices and “black box” technologies to transmit data in real time back to an organization. Often, the term is used in relation to an automobile. Insurance companies are utilizing telematic devices to [...]
As of October 1, U.S. retailers were required to upgrade their point-of-sale terminals to accept new EMV chip credit cards or be liable for any fraudulent charges. According to Reuters, some large U.S. retailers are trying to take it a step further by using personal identification numbers (PINs) with the new embedded chip credit cards [...]
Online advertising for banks is no longer defined by Web banners and pop-ups. Marketing departments are also building campaigns on what Kelly Colbert, vice president of social media at US Bank, calls "experimental canvases" in a SearchCIO article. Examples of these canvases include social media sites like Pinterest, Vine and Instagram. Recently, US Bank teamed [...]
Approximately $16 billion was stolen from 12.7 million U.S. consumers in 2014 according to the 2015 Identity Fraud Study released by Javelin Strategy & Research. The FTC found that identity theft was the number one type of complaint for the 15th year in a row among 30 categories of complaints. Identity theft accounted for 332,646 [...]
Innovation is a part of our daily lives whether it is what we drive, devices we use to communicate or how we shop. The credit cards that we use are no different. According to Credit.com and Boston.com, there are five ways that credit cards are likely to change by 2020. Chip and PIN everywhere. While [...]