Financial IT

Financial IT news, trends, analysis and practical advice

Citibank credit card with an EMV chip
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apple pay to change the world

Apple Pay: Apple's secret weapon for emerging economies

Person-to-person Apple Pay payments will widen Appleā€™s appeal in emerging economies

social security card

A tale of two women: same birthday, same Social Security number, same big-data mess

Two Florida women were born on the same day in the same state and given almost the same name. Though no one realized it at the time, it turns out they were also given the same Social Security number.

Chase EMV United card

Chase's tweet backing PIN credit cards was a mistake, bank says

JP Morgan Chase Bank tweeted in error that its chip credit cards would be getting PIN security, a bank spokesman confirmed.

credit cards

House panel hears retailers' concerns about chip-and-signature cards

Three representatives of small businesses said at a U.S. House subcommittee hearing that new chip-embedded credit cards need to have added PIN security instead of the chip and signature favored by most banks and card companies.

credit cards

Feud heats up over chip cards, FBI warning

A National Retail Federation attorney said that an updated FBI warning on chip card vulnerabilities waters down the need for PIN security.

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US, UK disrupt Dridex botnet, which targeted online banking

A cybercriminal network that caused at least $10 million in losses has been disrupted by U.S. and U.K. law enforcement, with the U.S. seeking a Moldovan man's extradition, the Department of Justice said.

emv chip and pin

FBI takes down alert on chip credit cards after bankers complain

The FBI posted an online advisory about vulnerabilities with new chip-enabled credit cards, but then removed the message on Friday, less than a day later, following concerns from U.S. bankers that support chip cards.

Chase EMV United card

Chip-card rollout drama peaks day before deadline

Banks and credit-card companies claimed Wednesday that roughly half of U.S. consumers have received a new chip credit or debit card, while retailers continued to bemoan the chip card conversion process as too slow, too expensive and...

Citibank credit card with an EMV chip

Retail group rips chip-card conversion expense, pushes for PIN security

The top attorney for the powerful National Retail Federation blasted banks and credit card companies on Tuesday for problems and costs with the massive ongoing U.S. rollout of computer chip cards and chip card readers.

Chip and

Many retailers anxious facing Thursday's chip-card conversion deadline

The nation's retailers bear a huge share of the burden of converting to more secure chip card technology, even as banks have been shipping updated chip credit and debit cards to millions of customers for months.


New York issues first bitcoin license, brings consumer protection

New York State's financial regulator issued its first bitcoin license, bringing consumer protection, compliance and cybersecurity guidelines to what still is very much the wild west of the financial industry.

Citibank credit card with an EMV chip

Chip card reality check: Oct. 1 deadline termed a 'soft incentive'

Despite an Oct. 1 deadline for U.S. merchants to accept secure chip-enabled credit and debit cards, experts believe it will take years for the conversion

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Demo Traction: This start-up can read your poker face

Cameras that can read emotions and free Internet payment systems topped the list of dozens of companies that displayed their tech at the DEMO Traction Enterprise today.

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Getting all strategic, and killing spreadsheet dependence, with Incase

Financial executives live and die by their spreadsheets. Indeed, it is a right of passage within finance departments to develop high levels of proficiency using pivot tables. Incase is killing a few of those sacred cows and leveraging...

outsourcing blue glow

As it sets IT layoffs, Citizens Bank shifts work to India via Web

Citizens Bank in Rhode Island has offered its IT employees solid middle-class wages and good benefits, but this slice of the America Dream is ending for many of them. Bank IT employees are training replacements in India to take over...

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SEC charges 32 in press release hacking, stock trading scheme

The U.S. Securities and Exchange Commission charged 32 defendants with fraud in an international scheme that used stolen, yet-to-be-published press releases from hacked websites to conduct stock trades.

emv chip and pin

FAQ: What you need to know about chip-embedded credit cards

The conversion process from older magnetic stripe cards to chip-embedded credit and debit cards has sped up in recent months because of an Oct. 1 deadline. That's the day when liability for credit card fraud will shift from banks to...


Mt. Gox CEO Karpeles arrested in Japan

The CEO of failed Bitcoin exchange Mt.Gox was arrested in Japan early Saturday by police, according to media reports.

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