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Showing Blog Posts: 1–9 of 9 tagged Financial Services

  • Financial Services Organizations Are in Need of a Cyber Security Wake-Up Call

    by Tony Kontzer on July 7, 2017

    There's little to suggest that the money you've entrusted to the financial institutions you do business with is in jeopardy. But the data surrounding that money? That's another story. Financial services companies are braced for a period of continued and expanded cyber threats, and the really bad news is that many of them aren't prepared to withstand the onslaught. Recent surveys paint a picture…

  • Financial Cybersecurity Regulations Are a Win for Privacy

    by Tom Boyden on January 30, 2017

    Beginning this year, financial and insurance companies in the state of New York will have to comply with some of the country’s most stringent and far-reaching cybersecurity regulations. In September, Governor Andrew Cuomo announced the new rules, which are meant to protect consumers, companies, and our financial infrastructure from the growing threat of cyberattacks. The regulations in their…

  • Banking Apps Look to Balance Convenience, Security

    by Nathan Eddy on January 25, 2017

    Mobile banking technology is poised to become ubiquitous. Soon connecting with your banker via video will be as easy and commonplace as checking your account balance on your smartphone. In the not-so-distant future, customers will expect to always have the option to chat face-to-face with their banker either on a mobile app, from an ATM or at a kiosk or meeting room in the branch itself. With…

  • History is Repeating Itself (In a Good Way)

    by Feris Rifai on January 17, 2017

    History is repeating itself. Before Sarbanes Oxley passed in 2002, having a director that was a financial expert in the American corporate boardroom was not the norm. In fact, CFOs who were originally thought of as financial gatekeepers are more than ever before held accountable for the integrity, accuracy and traceability of the financial information presented to the board. Today, we all know…

  • IT Security Concerns Loom Large for Financial Sector in 2017

    by Nathan Eddy on January 11, 2017

    Today’s financial sector chief information officer (CIO) is in the midst of a radical technological evolution, driven by global digitalization, adoption of mobile and cloud technologies by consumers, and the need for faster implementation of information technology. In addition, IT leadership is tasked with achieving higher revenue through technology, while continuing to adequately address…

  • Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction

    by Ben Rothke on September 6, 2016

    Bitcoin is a topic that evokes a sort of whodunit to many people. Created by an international man of mystery named Satoshi Nakamoto, it leads many to think this is a protocol that lends itself to a John Grisham novel. Many even think Bitcoin is a government conspiracy. But none of that could be further from the truth. As in introduction, Bitcoin is a digital currency and payment system created by…

  • How Cybersecurity Impacts Customer Loyalty

    by Alisdair Faulkner on June 21, 2016

    When it comes to banking, e-commerce and other online activities, fraud is one of consumers’ top concerns. In fact, insights from a recent First Annapolis and ThreatMetrix consumer study showed that more than half of consumers (55 percent) are extremely concerned about the risks of banking and payments-related fraud, with 46 percent indicating their fraud concerns have increased in the past two…

  • Banks Need to Rethink Cybersecurity After Recent Heists Through SWIFT

    by Caitlin Moriarity on June 17, 2016

    Cyberheists are on the rise. But how are hackers getting into financial institutions with some of the best security on the planet? Through a third party, it turns out. A number of major international cyberheists have been connected to the interbank SWIFT messaging system. Tien Phong Commercial Joint Stock Bank, based in Hanoi, Vietnam, said in a May 15 statement that it had recently foiled an…

  • Big Data Is a Big Cybersecurity Problem for Banks

    by Caitlin Moriarity on June 1, 2016

    How many financial service companies are vulnerable to a data breach? Way too many, according to a new report. The report, put together by data security company Vormetric and issued in partnership with analyst firm 451 Research, shows that a whopping 90 percent of the IT security professionals surveyed in the financial services industry believe that their companies are vulnerable to a possible…

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