Page 14 - GS211002

IndustryUpdate

Decryptx P2PE product and those from industry part- used for other online accounts, which marks an increase
ners—including Allied Electronics, NCR, Transaction of six percentage points from 2019.
Network Services and Comdata—that will encrypt pay-
ment data not only at the pump, but also within the Mercator ranks 12 API management platforms
C-store environment for major petroleum merchants.
According to Mercator Advisory Group, its research
CSI releases consumer cybersecurity survey report How to Build a Production-Ready Banking API Portal
and Avoid EU Mistakes identifies the key issues that have
Computer Services Inc., a provider of end-to-end fintech delayed the deployment of the PSD2 Open Banking
and regtech solutions, released findings from a cyber- mandated API sets, as well as compiles performance
security survey conducted by The Harris Poll on CSI's data that highlights the challenges. The report breaks
behalf. The report offers insights and analysis of how challenges down into issues related to technologies ver-
consumers’ cybersecurity concerns have changed since sus issues related to standards implementation.
a prior CSI survey completed in 2019. The pandemic
accelerated the adoption of online shopping and mobile It identifies the three core functional areas that establish
banking among consumers, making cybersecurity edu- a robust API portal and then rates 12 suppliers against
cation a top priority for financial institutions, CSI found. key criteria that make up the three functional areas.
Mercator said the report provides all the information
The poll ran online from June 10 to 14, 2021, and repre- required to understand why Europe has had so much
sents feedback from nearly 2,100 Americans, 18 years of trouble implementing the PSD2 mandate and how to
age and older, about their security concerns, beliefs and evaluate a financial institution’s existing IT infrastruc-
practices. According to the results, consumers are most ture to determine the API management platform that
concerned about identity theft (60 percent) and stolen will fit well into existing infrastructure without duplicat-
debit or credit card information (60 percent). ing key functions already operating effectively.

Also, 30 percent of consumers believe it is okay to use
the same password for an online bank account that is