Thales opens cyber Security Operations Centre in Morocco
The Paypers
APRIL 6, 2022
Technology company Thales has launched a new cyber Security Operations Centre (SOC) in Morocco for real-time protection against cyber-attacks.
The FFIEC’s Architecture, Infrastructure, and Operations book
Cisco
OCTOBER 4, 2022
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.
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Today’s Cyber Risk Management
Cisco
JUNE 7, 2022
The past 20 years have visibly demonstrated the impact large scale events have on market, credit, and operational risks in financial services. The subsequent regulatory activity in response to these events focused on operational risks. Cyber risk is the largest and fastest growing operational risk within financial services.
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Mastercard To Expand Euro Tech Hub In Dublin
PYMNTS
FEBRUARY 24, 2020
“As a leader in payments technology, Mastercard is to grow its workforce with notable investments in its artificial intelligence, cyber security, blockchain, user experience teams, and more. Mastercard first opened Ireland operations in 2008, with only 36 people on staff at the location. Right now, it has more than 650.
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Bitcoin Daily: Singapore’s MAS Looks To Expand Regulation Of Digital Token Services
PYMNTS
JULY 22, 2020
And the actions on risk will help with the new, more comprehensive use of technology in peoples’ lives that has also come with more threat of risk, the release says.
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ControlScan bolsters cybersecurity technology through Dunbar acquisition
Payments Source
OCTOBER 17, 2018
Seeking to bring advanced technology to its managed security services, ControlScan has acquired Dunbar Cybersecurity and its security operations center.
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Reduce your accounting firm’s cyber risks with these 8 actions
Abrigo
DECEMBER 5, 2016
Meanwhile, accountants themselves understand the importance of good cyber security practices in their own offices, given recent reports of attacks by identity thieves targeting client names and IDs. A central method for creating a strong cyber security culture is generating awareness. Ensure leadership buy-in.
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Hackers Employed By China Infiltrate Norwegian Software Company Visma
PYMNTS
FEBRUARY 6, 2019
Reuters , citing cybersecurity researchers, reported that the attack was part of a global hacking campaign initiated by the Ministry of State Security in China aimed at stealing intellectual property and corporate secrets. Visma made the hack public to raise awareness about the campaign.
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How to secure finance on the front line
Accenture
OCTOBER 5, 2020
Financial institutions are widely considered to have a stronghold on elite cybersecurity skills and technologies of any industry—and for good reason. They face the most sophisticated cyber threat actors who continually grow their capabilities and are rarely held accountable across the global footprint where they operate.
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Corporates Unprepared For GDPR, UK Government Warns
PYMNTS
JANUARY 29, 2018
For the businesses that are aware, a bit more than a quarter said they’ve made changes to their operations in order to comply with the new rules aimed at data privacy and security. A press release published last week by gov.uk highlighted a government survey that found only 38 percent of businesses have even heard of GDPR.
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Financial Services Digital Transformation & Business Resiliency Strategies
Cisco
MARCH 3, 2021
Financial Services institutions have experienced unforeseen challenges and significant disruption during the Pandemic and beyond, but also unprecedented opportunities to accelerate growth and digitize business operations to enhance employee productivity, customer experience, and innovation. Now they ARE the business.
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Singapore Reforms Laws For FinTech Push
PYMNTS
AUGUST 30, 2016
“It would also give MAS the flexibility to address emerging risks such as cyber security, interoperability, technology, and money laundering and terrorism financing. It is envisioned that activity-based regulation of payment service providers would build public confidence and encourage the use of electronic payments.”
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Wall Street stock-lending platform crashes in ransomware attack
American Banker
JANUARY 24, 2024
The criminal hacking gang LockBit said it was behind a ransomware attack that shut down some of the operations of EquiLend, a financial technology firm that processes trillions of dollars of securities-lending transactions every month.
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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry
Perficient
APRIL 2, 2021
AI technologies, such as voice recognition and natural language processing (NLP), are being used to improve customer experience and to gain operational efficiencies. These technologies are also used to better target marketing in retail and customize trade recommendations in wealth management. Credit Decisions.
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GRC best practices in a world under constant cyber threat
Insights on Business
MARCH 5, 2019
Cyber security is no longer just a problem for the IT department, it is a business risk that affects your entire organization. . 5:30 – 6:00 pm Keynote: Integrating Cybersecurity & Operational Risk to Meeting Regulatory Compliance. IBM Client Center. 590 Madison Avenue. New York City. 5:00 – 8:00 PM.
Inside China’s Cyber, Financial Regulatory Changes And Challenges
PYMNTS
FEBRUARY 24, 2020
billion-strong, high-spending consumers and their willingness to adapt to new technologies, trends and products may represent the economy of the future for many banks and businesses, but it is notoriously difficult for firms to enter and compete in this market. Confronting the Chinese Privacy Myth . The law is still ambiguous.
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Speed Dating: Invoice-to-Cash In The Digital Age
PYMNTS
MAY 24, 2016
The ubiquity of new technology has reset customer expectations, creating a new standard for speed of service and user experience. Thanks to Netflix, which was quick to adopt this new technology, customers expect an intuitive user interface and around-the-clock availability with zero tolerance for errors. contact-form-7].
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How Does ChatGPT Describe the Economy and Banking?
Jeff For Banks
FEBRUARY 4, 2023
As described by ZDNet.com , "ChatGPT is a natural language processing tool driven by AI technology that allows you to have human-like conversations and much more with a chatbot. Vendor management due diligence, such as "Where can I find third-party reviews on the nCino loan operating system?";
Q3 Global Fraud Attack Index Data Deep-Dive
PYMNTS
SEPTEMBER 30, 2016
Prior to founding Forter, Michael was the VP Product & International Operations at Pango Parking where he was in charge of the deployment and adoption of Mobile Wallet technologies worldwide. Karen also serves as a member of the advisory board for several emerging companies.
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One City Plans To Run Entirely On Blockchain
PYMNTS
DECEMBER 20, 2017
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. This week, news from Citigroup, UPS and Vanguard signal interest in using the distributed ledger technology in the back office.
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Betting the Bank on Your IT Experts
Jack Henry
JULY 2, 2014
As an example, the governor of New York State recently directed his Department of Financial Services to conduct targeted cyber security preparedness assessments for all state-chartered banks and other banks “based” in the state. Regardless of your infrastructure approach, solid IT talent is one of our industry’s most valuable assets.
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102 Stop Throwing Money at Cybersecurity
Celent Banking
OCTOBER 12, 2016
Most cyberattacks succeed because of weaknesses in people, processes, controls and operations. This is the definition of operational risk. Therefore, it makes sense to tackle cyber risk with the same tools you use to manage operational risk.
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100 The Importance Of Cyber War Games For Digital Businesses
PYMNTS
JUNE 8, 2018
based Immersive Labs for its cyber security war games demonstrates the enduring appeal of that adage. In addition, organizations — those with a long view, at least — have long done cyberthreat assessments, a process centered around checking anti-hacking technology and the credibility of cyberattack response plans.
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151 Guest blog post: Protecting yourself online
Abrigo
OCTOBER 31, 2014
The majority of professionals love technology. But when is too much technology just too much? Sageworks asked Don West, a member of the AICPA''s Information Management and Technology Assurance Section''s CITP Credential Committee the best ways to protect one''s self and business online. --. They just might help though. --.
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The top 4 trends banks can’t ignore in 2019
Cisco
APRIL 7, 2019
While banks work to build the right customer experience across channels, emerging technologies like voice-first banking and intelligent chat bots gain footing. Cyber security is more than just “top of mind.” Failures in implementation, process, operations, or incident response all contribute to the potential for major incidents.
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EMV’s Online Fraud Attack Push
PYMNTS
MAY 9, 2016
Prior to founding Forter, Michael was the VP Product & International Operations at Pango Parking where he was in charge of the deployment and adoption of Mobile Wallet technologies worldwide. Karen also serves as a member of the advisory board for several emerging companies.
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Top Fraud Issues for Telecommunications: Survey Results
FICO
DECEMBER 16, 2019
Fraud teams operate with lean structures. They have relatively small teams, considering the diverse breadth of activities that they are expected to undertake, and the emerging fraud risks from new technologies and services their organisations offer. by Mel Prescott.
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52 The top 4 trends banks can’t ignore in 2019
Cisco
APRIL 7, 2019
While banks work to build the right customer experience across channels, emerging technologies like voice-first banking and intelligent chat bots gain footing. Cyber security is more than just “top of mind.” Failures in implementation, process, operations, or incident response all contribute to the potential for major incidents.
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Making omni-channel a reality – part 6: An ongoing strategy
NCR
JUNE 21, 2017
Technology marches on – will you? As my omni-channel whitepaper makes clear, such is the pace of change and evolution in the banking technology sector that what is seen as cutting-edge today will be treated as a bare minimum in just a few short years. Leading up to 2020, radically transformed bank models will emerge.
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88 TSYS Syncs With Featurespace For Fraud Prevention Product
PYMNTS
JUNE 12, 2017
Dubbed the TSYS Foresight ScoreSM with Featurespace, this new tool is a fraud and risk scoring application that uses smart technology like machine learning to combat transactional fraud via cyberattacks. TSYS’s President and Chief Operating Officer, Pamela A. Joseph, commented on this joint effort in the company’s press release.
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4 AI Predictions for 2023: From the Great Correction to Practical AI
FICO
DECEMBER 1, 2022
I’m calling this new pragmatism Practical AI, and I predict this technology will rise in 2023 like a phoenix from the ashes of years of irrational exuberance around artificial intelligence. . Proper model package definition will improve the operational benefits of AI. Four Predictions for Practical Artificial Intelligence.
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“Humanware” Is the Weak Link in Cyber Defenses
FICO
AUGUST 9, 2016
When FICO hosted the Business Continuity Institute Forum covering the South and East of England at our London offices last month, you might have expected technology to top the agenda. But what dominated the discussion among more than 40 business continuity and cyber security experts was not malware but “humanware” — that is, people.
3 Reasons to Visit INFORMS 2016, April 10-12, in Orlando
FICO
APRIL 7, 2016
For those of you who aren’t familiar, The Institute for Operations Research and the Management Sciences (INFORMS) is the largest society in the world for professionals in the field of operations research (O.R.), management science, and analytics.
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40 Embracing disruption at Bank Innovation Ignite with IBM
Insights on Business
FEBRUARY 21, 2019
Digitally transforming operations, operating models and technologies to compete in a changing industry structure. Optimizing risk, compliance and security.
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Three success factors in security operations
Insights on Business
MAY 18, 2018
The model delivers better customer experiences, creates operational efficiencies, and can lead to new revenue sources. Financial institutions are leading the charge in building security immune systems, knowing they are most threatened. In my mind, success follows with three operational goals: 1.
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Synthetic Identities: From Data Breaches to Auto Loan Fraud
FICO
MAY 2, 2019
As the US transitioned to hard-to-counterfeit EMV payment card technology several years ago, criminals flocked to card not present (CNP) fraud , often combining identity fragments and card numbers stolen in breaches to make illicit purchases online. Sometimes these parties are business partners operating in the same automotive ecosystem.
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Behavioral Analytics Attack Fraud, Cyber and Financial Crime
FICO
APRIL 12, 2017
It’s especially cool to see how FICO customers can realize associated benefits by using our behavioral analytic technology. IDC predicts that in 2017, behavioral analytics across compliance, fraud, and cyber detection and prevention will be in place at 15% of banks, helping them to avoid losses, regulatory fines and sanctions.
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FICO’s New AML Scores Use AI and Machine Learning to Detect More Money Laundering
FICO
JUNE 9, 2022
Artificial intelligence (AI) and machine learning (ML) technologies have long been effective in fighting financial crime, used more than 30 years for fraud detection. With AML operations in many banks deluged with false positives, it’s no surprise that sophisticated money launders continue to evade detection. Scott Zoldi.
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52 My Keynote World Tour Wrap-Up: “Analytics Will Rock You”
FICO
JANUARY 30, 2017
Harvest Summit : This energizing event, held at a “secret” location in northern California wine country, was an incredible mix of big thinkers from a wide range of companies; organizations from Google to Pepsi sent their most audacious, creative leaders to talk about technology and its wide-ranging impact. The tour continues.
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The Surprises Edition: Ethereum, PayPal And The Fed
PYMNTS
NOVEMBER 13, 2017
The competition in India for digital payments dominance got that much more competitive this week with the announcement that PayPal has officially launched domestic operations in India. The move puts PayPal into direct competition with locally founded and Ant Financial-backed Paytm, the nation’s current leading digital payments firm.
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Crossing the COVID-19 Chasm (in Days, Not Months)
FICO
APRIL 10, 2020
Crossing the COVID-19 Chasm - Key takeaways: The COVID-19 situation exposed glaring weaknesses in businesses’ readiness to operate virtually, especially in areas like decisioning, which require huge volumes of diverse, real-time data. Companies scrambled to virtual operations, in some cases, with only limited access to critical systems.
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Crossing the COVID-19 Chasm (in Days, Not Months)
FICO
APRIL 10, 2020
Key takeaways: The COVID-19 situation exposed glaring weaknesses in businesses’ readiness to operate virtually, especially in areas like decisioning, which require huge volumes of diverse, real-time data. Companies scrambled to virtual operations, in some cases, with only limited access to critical systems. Then COVID-19 hit. .
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Power Up Your IT Budget by Zero-ing in on Waste
Banking 2020
MAY 14, 2015
America’s most recognizable banks, however, spend more just on technology. According to a recent report by McKinsey, banks that relentlessly standardize their IT infrastructure and application architecture spend an average of 41 percent less on day-to-day IT operations. billion, and popular toymaker Mattel is credited with almost $6.5
Are you onboard with AI?
NCR
DECEMBER 7, 2016
Some will tell you it’s the next great frontier in technological exploration, while others might argue that AI, machine learning and robotics will create just as many concerns as opportunities. More than two-thirds (67 per cent) predicted higher adoption of these technologies by banks to boost payment efficiency over the next two years.
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