Risk & Reward: Mobile Banking in the BYOD Era

The numbers really tell the story when it comes to mobile banking and it’s upward trend over the last year.

  • 82% of banks offer mobile banking technology through apps
  • In 2012, 1 in 5 people use a mobile device for banking transactions
  • In 2013, 1 in 3 people use a mobile device for banking transactions
  • Remote deposit capture doubled to 21% from 2012 to 2013

With mobile banking on the rise in addition to companies switching to a Bring Your Own Device (BYOD) culture – it creates a perfect storm of opportunities and risks for both banks and employers – so how do they manage that risk?

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SEC Issues Guidance on Data Breach Disclosure

In an act welcomed by many companies and investors, the SEC’s Division of Corporation Finance issued guidance to public companies on October 13 regarding disclosure obligations for data breaches.

The new guidance is consistent with the intent of existing Federal Securities laws that were partially designed to elicit information from registrants in the broader sense regarding events that would reasonably be considered important to investment decisions.  The guidance in this case is focused more acutely on cyber incidents or events that might have a similar impact on such decisions.  Read More…

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