Welcome to the Top 3 Innovating Payments News Headlines for the Week of April 14. One of the biggest developments in this issue comes from the Office of the Comptroller of the Currency (OCC), which has formally notified Congress of an information security incident. This revelation stems from internal investigations and independent third-party reviews, which confirmed that certain OCC emails and attachments were subject to unauthorized access.
Meanwhile, AI-driven cybercrime is accelerating at an alarming rate, highlighting the need for banks and credit unions to adapt swiftly.
Finally, FinTech banking is advancing on multiple fronts, presenting new opportunities and challenges for financial institutions of all sizes.
Read on to learn more.
1. OCC Notifies Congress of Incident Involving Email System (OCC)
The Office of the Comptroller of the Currency (OCC) today notified Congress of a major information security incident, as required by the Federal Information Security Modernization Act. This finding is the result of internal and independent third-party reviews of OCC emails and email attachments that were subject to unauthorized access. On February 11, 2025, the OCC learned of unusual interactions between a system administrative account in its office automation environment and OCC user mailboxes. (Read more.)
2. AI is Supercharging Cybercrime - Here's How Financial Institutions Can Stay Ahead (Elec. Payments Internat'l)
In today's hyperconnected financial landscape, identity is the new perimeter. And attackers know it. Artificial intelligence is accelerating identity-based cyberattacks, allowing fraudsters to exploit stolen credentials, automate phishing, and bypass traditional defenses faster than ever. For banks and credit unions, this shift marks a critical moment. To protect customer trust and financial assets, security teams must evolve just as quickly – or risk becoming prime targets. (Read more.)
3. They're Back: FinTech Banking Is Suddenly Advancing on Multiple Fronts (The Financial Brand)
Fintechs are gaining direct entry into banking via charter again. For most traditional banks, this will represent new challenges for some, new opportunities for others, and further evolution of the industry just as it faces unprecedented economic turmoil. The recent acquisition of a community bank by small business fintech SmartBiz, creating SmartBiz Bank, is widely seen as a harbinger of more to come, just as the new administration is considered to be more favorably inclined to deal-making and mergers and acquisitions. (Read more.)
How vulnerable is your financial institution to security incidents? What trends is your financial institution observing in AI-driven cybercrime? With FinTech banking advancing on multiple fronts, what new opportunities and challenges are emerging for your financial institution?
Check back soon for our next issue, highlighting the industry's most pressing and essential developments. In the meantime, visit us online at Innovating Payments.
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AUTHOR: Joe Casali, AAP, AFPP, APRP
Executive Vice President
As the EVP of Payments Innovation for NEACH, Joe focuses on exploring innovative solutions and technologies that will help position members for success, both now and in the future. Connect with Joe to read more of his blogs, articles, and posts.
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