With the tax filing deadline less than a week away, millions of Americans are scrambling to file their taxes online. But in a rush to meet this year’s deadline, you may be an increasingly vulnerable target for tax scammers looking to steal your identity. As the financial services industry continues to innovate and become more technologically advanced, hackers are changing their tactics and moving online in larger numbers. Fake emails and phony online forms have become common tools among hackers targeting industry and taxpayers alike.
Financial technology (FinTech) startups from Silicon Valley and across the United States are revolutionizing the financial services industry and introducing innovative technologies to the benefit of consumers. While some view these innovators as disrupters, FSR also views them as potential partners. Working collaboratively with technology innovators, we are seeking to address some of today’s – and tomorrow’s – most pressing challenges like enhancing financial inclusion, creating convenience and security for consumers, and pairing new services to meet the changing demands of customers.
FSR looks forward to educating policymakers on the evolving FinTech landscape following the release of an Office of the Comptroller of the Currency (OCC) white paper on FinTech Innovation.
You've probably heard suggestions from some in the retailing community that technologies like "chip and PIN" are the panacea to data breaches and payment fraud. This infographic will provide you with some facts which will, hopefully, help you see through the attempts at obfuscation and misdirection you'll hear from the other side of this issue. Take a look, and be sure to share with your friends! Click here to read FSR's full memo to Congress.
It may not be obvious to consumers, but the financial and tech industries are converging in the digital world as new technologies offer added convenience, security, and opportunity. This process has given rise to a now-common term – FinTech. FinTech foreshadows what the convergence of these two industries will mean in the near future: It’s not just “TECH companies getting into FINancial services,” it’s really “FINance and TECHnology evolving in a shared universe,” and that’s a universe based on rules that prioritize the trust consumers have today in their financial providers with the converged FinTech providers of tomorrow.