Investment

A data breach in 2022 costs companies $4.35 million on average, an all-time high according to IBM research.

In a survey, 88% of financial institutions had experienced a firmware-related attack, which the Department of Homeland Security has called an "overlooked" vector for cyberattacks.

At a time when many crypto companies have seen their fortunes plummet, one corner of the industry is thriving.

Their chatbots are diverting calls away from call centers and helping bring in deposits, the banks say, as the adoption, maturity and usefulness of the technology improve. 

To meet the growing demand, banks are faced with a choice of hiring, reskilling or outsourcing.

A recent announcement from the CFPB makes clear that the agency expects banks to adopt multifactor authentication, password management and security patching.

BankTech Ventures, which is the product of five firms including two community banks, finds fintechs that its bank partners could work with and invest in.

The two major tech firms were targeted in an intricate phishing scheme last week. One fended off the attack; the other was not so fortunate.

In markets such as India, China, the United Arab Emirates and Brazil, more consumers and merchants are testing or deploying facial recognition as a way to authenticate transactions.

Goldman Sachs Group has extended a $150 million credit line to the Mexican startup Clara, which lends to corporations and helps manage their spending, the latest Latin American fintech to receive support from the New York-based banking giant.