With so much uncertainty, the only thing that's clear is how different the sector may look a year from now. Here's an overview of the leading trends in technology that will impact payments and banking in 2018.
In a move designed to strengthen its capabilities for integrated payments, processor and technology provider Total System Services has agreed to acquire Cayan for $1.05 billion. The news shortly follows another deal valued in the billions — Thales agreeing to buy the chip maker Gemalto for $5.4 billion.
In a rare show of public support for a security technology, the banks are leading a $40 million funding round for Menlo Security, provider of browser technology that keeps malware at bay — and they’re using it, too.
An ex-regulator’s stern warning about the risks of sharing consumer information with fintechs has prompted debate over common security standards for banks and nonbanks, better data tracking and new liability insurance products.
The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures.
Jeanne Tisinger spent three decades working at the CIA, where her most recent position was deputy director overseeing the agency’s physical and cybersecurity and information technology spanning more than 100 countries.
Barclays Plc will need to defend its advantages in the payments business from encroachment by technology companies including Amazon.com Inc. and Apple Inc., according to Chief Executive Officer Jes Staley.