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IndustryUpdate

no fees. VibePay said the solution was put into production after it listened to LexusNexus Risk Solutions:
community feedback on new tools to make account-to-account payments bot attacks rising
quicker and simpler. Users can activate the voice-initiated technology using
Siri with a simple sentence, for example, “Hey, Siri, send money to Luke!” It LexisNexis Risk Solutions released
is the latest offering in VibePay’s mission to transform how consumers and findings from its latest Cybercrime
businesses interact with payments and comes ahead of the launch of VibePay Report, which covers the first half
Pro later this year, which will enable sellers and entrepreneurs to interact of 2021. This edition of the bian-
with customers and audiences in new ways, VibePay said. nual report revealed that bot attack
volumes grew 41 percent year over
RESEARCH year with human-initiated attacks
falling by 29 percent. The report
confirmed earlier trend patterns
SMBs struggling amid pandemic showing that the financial services
industry and media businesses bear
Small businesses are struggling to recover amid pandemic-related head- the brunt of increased automated
winds, according to data released from the Goldman Sachs 10,000 Small bot network attacks. Researchers
Businesses Voices initiative. The data from a recently completed survey is analyzed 28.7 billion transactions
a warning sign that more action is needed to aid small business owners as from the LexisNexis Digital Identity
they continue on their road to recovery, researchers stated. Forty-four percent Network over the six-month period.
of small business owners have less than three months’ cash reserves, put- The increased shift to digital pay-
ting their businesses and employees in danger should a COVID-19-related ments seen across advanced econo-
shutdown or other emergency occur, they noted, adding that the number is mies during the pandemic appears
higher—51 percent—for Black-owned small businesses. Thirty-one percent of to be a permanent change, while
small businesses needing capital reported being very confident they would accelerated digital transformation
get access to funding; only 20 percent of Black-owned small businesses in emerging economies and indus-
reported the same level of confidence, researchers wrote. tries continues to drive transaction
growth and catch fraudsters' atten-
tion.

Payscale reports
on remote work

Payscale Inc., a provider of compen-
sation data and software, released
its Remote Work Report highlight-
ing how remote work is impacting
employee expectations, job seek-
ing behavior, future work envi-
ronments and pay strategies. The
research shows that the workforce
will expect remote work, or some
amount of workplace flexibility,
when the pandemic ends—at least
among office workers, Payscale
noted. While 43 percent of work-
ers surveyed expect remote work
options to increase after the pan-
demic, 81 percent of employers do
not have a compensation strategy
that encompasses remote work-
ers. In occupations like technology
and marketing, expectations among
employees for remote work options
rises to over 70 percent. However,
only 50 percent of organizations
said they will have a flexible or
hybrid office after the pandemic; 47
percent have surveyed employees
on their preferences.

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