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Financial institutions must prioritize multifactor authentication as hackers take advantage of a lack of identity protection.   In 2023, cyberattacks using valid credentials to gain access to user accounts increased 71% from 2022, according to IBM’s 2024 X-Force Threat Intelligence Index. Rather than hacking, the attackers are able to just log in, Leah Generao, partner at…

The banking sector is a significant component of the global economy, and it is currently undergoing a major transformation powered by the integration of Artificial Intelligence (AI) and automation technologies. These advancements are not only enhancing operational efficiency but are also fundamentally changing the landscape of financial services. As we explore this revolution further, it’s…

The expense management arena is a crowded one, with well-funded players such as Brex, Ramp and Navan all clamoring for market share. Those companies are generally focused on tech startups and large corporations. But a four-year-old contender, Coast, is pursuing a different type of customer — businesses with so-called “real-world” field personnel and fleets to…

Both KeyBank and PNC Bank are exercising caution in how they roll out generative AI to their customers.  The models need to be refined for accuracy before consumers can be the “prompters,” or questioners, for gen AI-driven features, Dominic Cugini, chief transformation officer at $185 billion KeyBank, said at Bank Automation Summit U.S. 2024 on…

Things we’re reading today include … PAY360 2024: Day Two Highlights | The Fintech Times Pay360 book launch: Intelligent Money by Chris Skinner – Fintech Intel UK fintech to be elevated to ‘ubiquitech’ with Smart Data Roadmap, new report reveals (finextra.com) Strengthen Central Bank Independence to Protect the World Economy (imf.org) Interest rates: Bank of……