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Tag: banking security


Capital and Risk, Operational

4 Keys Banks Need to Unlock Value From Artificial Intelligence

November 15, 2022

Via: Bank Director

Banks of all sizes are tuning up their technology to better compete for customer loyalty by focusing on areas involving consumer interactions. But bank leaders need to understand that artificial intelligence, or AI, alone can’t revolutionize the customer experience. In […]


Regulations

FCA proposes updated guidance to protect access to banking services

July 5, 2022

Via: FinTech Futures

This new guidance will include assessing the impact of shorter branch opening times, planned branch closures, removal or conversion of ATMs or reduction in the services they provide. The FCA has warned that “some banks and building societies are not […]


Capital and Risk, Operational

Federal Regulators Adopt New Computer-Security Incident Notification Requirements for Banks and Service Providers

December 2, 2021

Via: JD Supra

In response to increasingly frequent and sophisticated cybersecurity attacks on banks and bank service providers, the federal prudential banking regulators—the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal […]


Capital and Risk, Operational

Sberbank deputy chair: “We’re the number one target for hackers around the globe”

September 20, 2021

Via: FinTech Futures

Research by Accenture predicts that between 2019 and 2023, the banking sector is at risk of losing $347 billion as a result of direct and indirect cyberattacks. The issue has further been exacerbated by the COVID-19 pandemic. Bank of America’s […]


Capital and Risk, Operational

Embracing Fraud Protection as a Differentiator

August 10, 2021

Via: Bank Director

Community banks are under pressure from the latest apps or start-ups that attempt to lure customers away with features that they may lack: cutting edge technology, international capabilities and a digital-first approach. However, much less attention is focused on where […]


Capital and Risk, Operational

What Banks Need to Know About Cyber Resiliency

May 20, 2021

Via: Bank Director

In a world full of adversity, there is much to be said about the knowledge and strength it takes to overcome setbacks on an individual and organizational level — in short, resiliency. That is especially crucial in an environment like […]


Capital and Risk, Operational

Bank of America CTO: Cyberattacks on banks “surged” during pandemic

May 5, 2021

Via: FinTech Futures

The bank’s global information-security unit spends the majority of this budget on staff and technology. Bessant added in a briefing on Monday, as reported by American Banker, that cyberattacks have surged “dramatically” during the pandemic. “Criminals are by definition very […]


Capital and Risk, Operational

5 Cyber Threats FinTech Companies Should Watch Out For

April 26, 2021

Via: TechBullion

FinTech companies have been gaining momentum since the beginning of the pandemic. They have significantly improved their services and even merged with the traditional banking methods. Major banks have integrated fintech into their existing systems to offer more options. So […]


Capital and Risk, Operational

BBVA and Google Cloud Form Strategic Partnership to Drive Security Innovation in Financial Services

February 23, 2021

Via: PR Newswire

BBVA and Google Cloud today announced a new strategic partnership to transform the bank’s security strategy by optimizing and improving its security infrastructure. As part of this global agreement, BBVA will collaborate with Google Cloud in the development of groundbreaking […]


Capital and Risk, Operational

2020 review: Top five cyberattacks this year

December 22, 2020

Via: FinTech Futures

Ransomware is on the rise across all sectors. Sophos reports that half of all companies it surveyed had been hit by a ransomware attack and 48% of financial services firms reported being targeted. As fraudsters get more sophisticated, we will […]


Capital and Risk, Operational

Wells Fargo agrees to pay $3bn fine for fraudulent account furore

February 25, 2020

Via: Banking Technology

The bank, fourth-largest in the US, will pay the hefty fine to both the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). The SEC will receive around $500 million of the total figure, which it plans […]


Capital and Risk, Operational

Canada puts security at top of open banking review

February 3, 2020

Via: Finextra

The Department of Finance Canada set up an Advisory Committee on Open Banking in 2018 to investigate whether the country should follow the UK in making it easier for people to let third party financial services providers access their banking […]


Capital and Risk, Operational

Banks must improve cyber risk culture, says MAS panel

October 1, 2019

Via: Banking Technology

The Cyber Security Advisory Panel (CSAP) convened in late September, in a discussion chaired by MAS managing director Ravi Menon. It found that risk culture was often a contributing factor during cyber incidents. According to MAS, CSAP members highlighted that […]


Capital and Risk, Operational

As global cash machine transactions rise, this ATM maker is investing in security to protect against crime

July 26, 2017

Via: CNBC

Banking technology firm Cennox has announced a deal to buy the European division of 3SI Security Systems, with a view to expanding its hardware, software and security provision. It follows an international upward trend in consumers making transactions using automated […]