To stay competitive while remaining efficient and compliant with risk and security management, financial institutions must now employ the use of cutting-edge technology. Transformations of retail and business banking have accelerated, first with the Internet and now with increased use of mobile smartphones, tablet banking and “cloud computing.” Even credit card transactions are moving to near-field communication (NFC) smartphones. With each advance in technology, banks and other financial institutions are challenged by numerous cybersecurity, privacy and information management issues.
We help financial institutions implement new technology and business initiatives such as the following:
- Meeting regulatory requirements for Internet and mobile financial transactions
- Strategic alliances, partnerships and joint marketing arrangements for internet and mobile financial services
- Cybersecurity, privacy, data storage and information management requirements and controls
- Compliance with Gramm-Leach-Bliley obligations, including the GLB “Safeguards Rule” and Interagency Guidance
- Negotiation of “big-ticket” software and systems contracts
- Advanced credit card, Internet and mobile financial transaction processing contracts and joint ventures