Standard Bank aims to improve card risk management
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Company says Triad provides modules for behavior scoring, Champion-Challenger strategy testing, and authorizations, credit limit and delinquent collections management.
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As Ken Solomon read the letter last month from a company whose software he had bought, one sentence set off alarms: "Your credit or debit card information may be at risk."
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The company is keeping its cards close to the vest.
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Bank of America's optional SafePass service works with customers' mobile phones to improve security for online banking.
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Bank regulators issued new standards for subprime mortgage lending on Friday that includes several new consumer protections.
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The Securities and Exchange Commission is promoting a legal standard that would make it harder for shareholders to win fraud lawsuits against companies and executives.
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The companies that accept payment card transactions will eventually have to play by new rules being laid down by Visa to bolster data security.
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Many cards haven't been lowering rates for their customers.
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International credit ratings agency Standard and Poor's said it has affirmed its short- and long-term credit ratings on Standard Chartered Bank following its 3.3 billion dollar bid for Korea First Bank (KFB).
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The bond firm plans to tackle riskier investments.
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Credit card companies would have to disclose interest rates and fees in clearer, easier-to-understand language under proposed new consumer-protection rules that could take effect by year-end.
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Banks aren't moving fast enough on requiring online customers to provide two forms of ID, the company says.
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Oct. 28 - New banking rules usually go unnoticed by consumers, but a change going into effect today is going to cost consumers plenty.
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House of Fraser has posted narrower first-half losses on improved gross margins and announced a new partnership deal with Barclaycard to manage its customer account cards.
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(InfoWorld) - A consortium of security vendors is trying to make it easier for emergency personnel to identify themselves at the scene of a disaster. The group, called Tiers of Trust, will help groups like local police and fire departments develop smart-card identification systems based on a federal ID standard calledÂ FIPS (Federal Information Processing Standard) 201. The FIPS 201 standard defines how smart card identification credentials are to be used by federal employees, and an estimated 3 million local first responders must also comply with the standard in order to qualify for federal grant money, the Tiers of Trust Consortium said. But complying with the FIPS 201 standard can be expensive, and the consortium thinks that it can help local departments cut costs by offering them a helping hand with the process. "What we're trying to do is make it easier and more effective for first responders to be FIPS-compliant ... so they can go and do their jobs," said Howard Schmidt, the former cybersecurity advisor to the White House and a backer of the project. The consortium's ultimate goal is to help create a nationwide ID system that will prevent the logistical snafus that first responders experienced during the September 11, 2001 terrorist attacks and Hurricane Katrina, said Schmidt, who is president and CEO of R&H Security Consulting. In both disasters, there were problems identifying and keeping track of first responders. During Katrina, for example, many professionals who made it to the disaster area were unable to help. "First responders didn't have a compliant identification system, so they were turned away," he said. Tiers of Trust's program is available to many different types of U.S. first responder organization including fire, police, rescue and public health departments. Utilities, communications, and transportation companies can also participate. The group is sponsored by a number of security companies including PGP, HID Global, and Secure Network Systems. The consortium's Web site is set to go live on Tuesday. Participating organizations have until year's end to apply for the program.
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Visa this week quietly rolled out an additional set of Payment Application Security Mandates for companies that handle credit and debit card transactions.
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The news was a reminder of the difficulty banks are now facing in valuing complicated financial instruments.