High-pressure systems often have bad news to share. In payments, data theft is going nowhere: In fact, it is expected to be an explosive growth industry over the next several years, which will be costly both in terms of what is stolen and transactions damaged by delays in a system that can cause lack of trust. And the pressure is only rising, as firms have ever-growing and extremely tantalizing data stacks out there. For all the pressure, there is also progress, as small players become big players with better ideas on securing and moving funds. But the learning curve is steep, and the time for trial and error is short.
$100 million: The amount X Financial raised via its IPO on the New York Stock Exchange.
200: The number of P2P businesses that have failed in China since June.
175 percent: Projected increase in data theft by 2023.
110: The average number of data points the average insurance company has per consumer.
75 percent: The share of businesses that want authentication to have “little or no” impact on consumers’ digital experiences.