Citibank’s e-Business division announced the launch of a new security feature in the U.S. which will significantly reduce the risk of check fraud for corporate customers. The new feature, Citibank Check Authentication Mark, utilizes unique materials on the check stock which are extremely difficult to counterfeit. Citibank will be the first bank to offer this innovative technology. Check Authentication Mark is the first high-speed, machine-readable, check authentication system. This new system is extremely secure and, most importantly, is not available to the perpetrators of fraud. Citibank has installed special electronic detectors on its corporate check sorting equipment, which will authenticate checks containing the unique material. Check fraud is a growing threat to banks and their corporate customers. In 1999, losses from check fraud in the US were around $19 billion, a 66% increase from 1996.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more