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woman looking at banking transaction on mobile
Singapore mandates face authentication for 'higher risk' bank transactions

The move comes amid growing phishing attacks targeting the financial services sector; most impacted by brand impersonation scams.

OTP on phone with laptop in background
3 banks plan to retire one-time passwords for customers with digital tokens
ocbc-securities-oscar042024
Bank's AI tool identifies stock buys based on user's risk appetite
global-data-gettyimages-1337196402
Banks in Singapore begin sharing data to combat financial crime
Shot of a young man using a smartphone while going over his finances at home
The best budgeting apps: Find the Mint alternative that's right for you
woman looking at banking transaction on mobile

Singapore mandates face authentication for 'higher risk' bank transactions

The move comes amid growing phishing attacks targeting the financial services sector; most impacted by brand impersonation scams.
1 week ago by Eileen Yu in Security
OTP on phone with laptop in background

3 banks plan to retire one-time passwords for customers with digital tokens

The move to phase out OTP authentication is part of efforts by Singapore's financial institutions to safeguard against phishing.
2 months ago by Eileen Yu in Security
ocbc-securities-oscar042024

Bank's AI tool identifies stock buys based on user's risk appetite

Trained on data from stock exchanges in three markets, the Singapore bank's AI platform predicts price movements and generates stock picks based on a user's personal risk profile and trading patterns.
3 months ago by Eileen Yu in Artificial Intelligence
global-data-gettyimages-1337196402

Banks in Singapore begin sharing data to combat financial crime

Six banks will share customer data deemed suspicious in a bid to fight money laundering and terrorism financing activities.
5 months ago by Eileen Yu in Security
Shot of a young man using a smartphone while going over his finances at home

The best budgeting apps: Find the Mint alternative that's right for you

Mint may be gone, but there are still many great budget apps that promise to help you set financial goals and save money. We tested that promise to find out which are the best ones.
10 months ago by Maria Diaz in Services & Software
Data center room

Equinix's data center system upgrade results in hours-long disruption at banks

A glitch in a scheduled 'chilled water system' upgrade disrupted operations for Equinix's data center customers, including two banks in Singapore.
11 months ago by Eileen Yu in Data Centers
colorful laptop

Asian banks are a favorite target of cybercrooks, and malicious bots their preferred tool

Asia-Pacific is the second-most targeted region for malicious bot requests against financial services, with global hubs Singapore, Australia, and Japan the region's top three most targeted, accounting for the bulk of web application and API attacks.
1 year ago by Eileen Yu in Security
walletygettyimages-1461360968

It's 2030, and digital wallets have replaced every card in our purses and pockets

OpenWallet, now joined by Microsoft, looks to the near future when digital wallets replace traditional wallets in the same way debit cards replaced checkbooks.
1 year ago by Steven Vaughan-Nichols in Finance
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Banks defending their right to security are missing the point about consumer trust

When businesses override a customer's security decision, does it make them fully liable when a breach occurs? That's a question banks like those in Singapore need to consider before they roll out their next security feature.
1 year ago by Eileen Yu in Security
Padlock on credit cards

This bank's new app security feature irks customers

OCBC introduces a security feature that locks out access if it detects mobile apps downloaded from unofficial app stores on the user's phone. The bank cites the need to safeguard against malware, but is instead frustrating customers.
1 year ago by Eileen Yu in Security
Coding 1s and 0s

Human coding error identified as cause of digital bank service outage

The coding error in a software used for system maintenance had resulted in DBS Bank's hours-long service outage in May, but unrelated to another outage in March.
1 year ago by Eileen Yu in Security
Abstract colorful finance chart

Amazon to test escrow service in digital money pilot

The e-commerce giant will work with fintech players on a trial to test the use of "purpose-bound" digital money, where merchants will receive payment only after customers receive their purchases.
1 year ago by Eileen Yu in Banking
Data

This data platform will help banks share criminal intelligence

Singapore is developing a digital platform to enable six major banks, including Citibank and Standard Chartered, to exchange data on customers involved in potentially illegal financial activities.
1 year ago by Eileen Yu in Security
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Jack Ma to cede control of Alibaba's fintech business in shareholder revamp

Ant Group says Alibaba Group's founder Jack Ma will no longer have controlling voting rights over the fintech company following the completion of changes to improve governance and transparency.
1 year ago by Eileen Yu in Finance
Padlock to represent computer security breach

Australia beefs up scrutiny of Medibank following data breach

Financial services regulator says it has "intensified" its supervision of Medibank following a data breach that impacted 9.7 million customers and believed to be the work of Russian hackers.
1 year ago by Eileen Yu in Security
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