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The cyber security threat landscape in financial services

Insights on Business

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry.

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Today’s Cyber Risk Management

Cisco

While operational risk is not a contributing factor in a pandemic, the COVID-19 pandemic’s impact on financial services’ digitization does correlate with a material rise in cyber risk. It also put an even greater emphasis on cyber risk management within institutions and financial regulatory agencies. Regulatory Agencies Step Up.

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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Perficient

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Risk Management.

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One City Plans To Run Entirely On Blockchain

PYMNTS

As more businesses join collaborative groups and invest in internal research and development (R&D) to explore using blockchain for new services, some firms have begun to use the technology themselves. Last week, PYMNTS noted Gibraltar’s plans to introduce blockchain regulation into its financial services space.

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America’s AI Bill of Rights is the Right Idea – and It’s About Time

FICO

The AI Bill of Rights is the first step toward similar regulation of AI and machine learning algorithms. A first step toward AI regulation. I’m delighted that one of my key innovations for Responsible AI, the use of blockchain technology for model management governance , was recently awarded a patent by the U.S. FICO Admin.

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The FFIEC’s Architecture, Infrastructure, and Operations book

Cisco

In June 2021, following large cyber attacks on the United States and the resulting Executive order on Cyber security, the FFIEC released the largest update in guidance in over a decade to help financial auditors assess financial institutions. In Summary. In Summary. This blog even as summary is quite long.

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Prepaid’s Summer Of Uncertainty

PYMNTS

That puts these products under the rubric of Regulation Z, which Fauss says was never meant to handle deposit accounts. Regulation Z governs credit products, forcing full credit underwriting when credit is extended. “These rules simply target that unbanked or underbanked group,” Fauss notes. Who Uses Prepaid Anyway?

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