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Technology News and Hot Topics

CTOvision

Last week technology news site Re:Code announced that it would stop hosting comments on its own sites as the conversation around stories was already happening on social media. Rush-hour traffic forces banks to embrace technology. Royal Bank of Scotland Fined Million Over Technology Failure.

Symantec 282
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Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

CIO Business Intelligence

Digitalization is a double-edged sword for banks, especially when it comes to security. As financial services become more digital in nature, it’s important that banks think differently when using data analytics, security tools, and education to improve identity authentication and customer data privacy.

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Marc Andreessen on the future of technology and the nature of government services

CTOvision

Consider the many services that states are already moving online, like driver licenses and car registration. Many young people today interact with their financial services in ways that will never require them to visit a bank. By 2030 we should expect to have virtual adjudication in many cases. This is just one domain.

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ICE just signed a contract with facial recognition company Clearview AI

The Verge

The purchase order for $224,000 describes “clearview licenses” and lists “ICE mission support dallas” as the contracting office. The technology could identify someone just from a photo and put names to faces through its trove of 3 billion images scraped from social media sites — often against the platforms’ rules.

Company 145
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Peer-to-peer banking - Trends in the Living Networks

Trends in the Living Networks

The principle is simple – you lend to individuals at interest rates based on their credit rating, and since you’re cutting out the bank as middleman, both lender and depositer get more attractive interest rates than they can get commercially. Banks are the archetypical intermediary, in this case between depositers and lenders.

Banking 83
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Paul G. Allen Family Foundation giving $1.4M in COVID-19 relief aimed at underserved communities

GeekWire

We cannot overlook communities that are disproportionately burdened by the economic and social impacts of this pandemic,” Jody Allen, chair of the Allen Family Foundation, said in a news release. The data from the online survey will help inform public agencies and food banks about the needs of people experiencing economic and food insecurity.

Licensing 144
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Data breach exposes 1.6 million Washington state residents who filed unemployment claims in 2020

GeekWire

million claims and included the person’s name, social security number and/or driver’s license or state identification number, bank information, and place of employment. SAO was reviewing all claims data as part of an audit of that fraud incident. The data involves about 1.6

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