Hunton Privacy

DECEMBER 4, 2023

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

Financial Services 64

Financial Services Insurance Data breaches Cybersecurity 64

Data Breach Today

JULY 23, 2020

Company Could Be Fined $1,000 for Each Violation of State Cybersecurity Law The New York State Department of Financial Services has filed civil charges against First American Title Insurance Co., which has been accused of exposing hundreds of millions of documents that contained customers' mortgage and personal data.

Insurance 231

Insurance Financial Services Personal data Cybersecurity 231

IBM Big Data Hub

JANUARY 16, 2024

The start of 2024 brings forth many questions as to what we can expect in the year ahead, especially in the financial services industry, where technological advances have skyrocketed and added complexities to an already turbulent landscape. One example of this is in insurance.

Financial Services 48

Financial Services Customer Experience Cloud Digital transformation 48

Data Matters

FEBRUARY 25, 2022

Sidley and OneTrust DataGuidance are pleased to announce that registration is now open for their annual Data Protection in Financial Services (DPFS) Week. Join us from February 28 – March 3 for DPFS Week 2022 , a series of webinars looking at the impacts of data privacy across the financial sector.

Financial Services 100

Financial Services Privacy Data Privacy Cybersecurity 100

OpenText Information Management

JANUARY 10, 2022

As we head into 2022, it’s clear that the Financial Services industry overall has responded well to the impact of COVID-19 — but it hasn’t emerged unscathed. In fact, McKinsey’s Global Banking Review states that half of banks are not covering their cost of equity.

Financial Services 126

Financial Services IT Insurance 126

OpenText Information Management

JANUARY 5, 2023

With inflation, rising interest rates and general economic uncertainty, last year presented several challenges for financial services institutions (FSIs).

Financial Services 105

Financial Services Government Customer Experience Content services 105

Data Breach Today

AUGUST 24, 2021

How Banks and Insurance Providers can Leverage Modern Solutions for Modern Fraud Despite these financial headwinds, new ways are emerging for FIs to differentiate on the quality of fraud prevention and outreach they can provide to customers.

Financial Services 130

Financial Services Insurance 130

OpenText Information Management

JANUARY 6, 2020

For 2020, we’re going to see financial services companies accentuate and accelerate the priorities of recent years. Financial Services and Insurance organizations will continue … The post Information Advantage for Financial Services in 2020 appeared first on OpenText Blogs.

Financial Services 83

Financial Services Insurance 83

Data Breach Today

SEPTEMBER 5, 2024

New EU Rules Focus on Operational Resilience, Breach Reporting and Third-Party Risk The Digital Operational Resilience Act aims to reshape the financial services industry by introducing strict cybersecurity standards. Financial institutions must comply with the new rules by Jan.

Cybersecurity 189

Cybersecurity Financial Services Insurance Risk 189

Data Matters

FEBRUARY 10, 2021

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Insurers should: Establish a Formal Cyber Insurance Risk Strategy.

Insurance 77

Insurance Financial Services Cybersecurity Risk 77

OpenText Information Management

NOVEMBER 22, 2023

All of these elements have put pressure on the financial … The post Predictions for the financial services industry in 2024 appeared first on OpenText Blogs.

Financial Services 59

Financial Services Artificial Intelligence Customer Experience Content services 59

OpenText Information Management

MAY 1, 2019

To compete and succeed in today’s fast-changing business climate, banks, insurance companies and other financial services institutions (FSIs) need to have three priorities to contend with new technologies, new market entrants and new ways of working that are changing expectations for the industry.

Financial Services 69

Financial Services Digital transformation Insurance Marketing 69

Data Protection Report

OCTOBER 17, 2024

On October 16, 2024, the New York Department of Financial Services (“NYDFS” or “DFS”) issued guidance raising awareness about combatting cybersecurity risks arising from artificial intelligence (“AI”) used by DFS licensees, such as insurers and virtual currency businesses.

Artificial Intelligence 56

Artificial Intelligence Financial Services Risk Cybersecurity 56

Thales Cloud Protection & Licensing

JANUARY 16, 2024

Key recommendations for Financial Services to improve cybersecurity and resilience in multi-clouds madhav Wed, 01/17/2024 - 05:46 The Digital Operational Resilience Act (DORA) will apply to the EU financial sector from 17 January 2025. As set out in its Article 2, DORA applies to the entire financial services sector.

Financial Services 83

Financial Services Cloud Cybersecurity Encryption 83

OpenText Information Management

JANUARY 12, 2021

The paper problem Financial services workflows have always been heavily paper-based. For example, in … The post Three use cases for cloud fax in financial services appeared first on OpenText Blogs. What about incorporating other business drivers such as improved business efficiency or enhanced customer experience?

Financial Services 90

Financial Services Cloud Customer Experience Paper 90

Hunton Privacy

JUNE 9, 2022

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). On May 27, 2022, Vermont Governor Phil Scott signed H.515 Information Security Program Requirements. Enforcement and Penalties Under the Law.

Insurance 107

Insurance Security Information Security Cybersecurity 107

IBM Big Data Hub

DECEMBER 1, 2023

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

Insurance 96

Insurance Digital transformation Customer Experience Cloud 96

Data Protection Report

FEBRUARY 2, 2024

On January 17, 2024 the New York Department of Financial Services (“NYDFS”) published a Proposed Insurance Circular Letter (“Proposed Circular”) regarding the use of artificial intelligence systems (“AIS”) and external consumer data and information sources (“ECDIS”) in insurance underwriting and pricing.

Insurance 78

Insurance Artificial Intelligence Risk Compliance 78

Data Matters

FEBRUARY 20, 2019

On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance. Unlawful Discrimination.

Insurance 66

Insurance Financial Services Compliance Retail 66

OpenText Information Management

OCTOBER 25, 2021

Every financial services organization today understands the importance of data maturity. Most financial institutions are striving to combine … The post Bridging the data ‘achievement gap’ for financial services appeared first on OpenText Blogs.

Financial Services 64

Financial Services Customer Experience Insurance 64

OpenText Information Management

JANUARY 18, 2023

The roles and responsibilities around data normalization, programming communications layouts and adding … The post Empower business users in financial services to elevate customer experience appeared first on OpenText Blogs.

Customer Experience 64

Customer Experience Financial Services Communications Insurance 64

DXC Technology

MARCH 15, 2019

That’s according to an independent report by 451 Research, ‘Multi-Cloud Fundamental to Financial Services Transformation.’ Multi-clouds — environments made up of multiple public and private clouds typically used for different purposes — may well be the cloud of choice for banks. I’m not here to argue.

Financial Services 91

Financial Services Cloud Insurance Marketing 91

OpenText Information Management

APRIL 22, 2019

Research has consistently shown that senior management within the insurance sector think digital transformation is critical to their business. Digital … The post Achieving digital transformation in the insurance industry appeared first on OpenText Blogs.

Digital transformation 93

Digital transformation Insurance Financial Services Customer Experience 93

OpenText Information Management

OCTOBER 5, 2020

In January, I wrote a predictions blog that said the priorities of the financial services industry would not change greatly over the next 12 months!

Financial Services 83

Financial Services Insurance 83

Hunton Privacy

FEBRUARY 22, 2021

The NYDFS learned of the threat after receiving reports from auto insurers that cybercriminals were targeting their premium quote sites to steal driver’s license numbers. The NYDFS learned of the threat after receiving reports from auto insurers that cybercriminals were targeting their premium quote sites to steal driver’s license numbers.

Financial Services 86

Financial Services Insurance Cybersecurity Analytics 86

Data Breach Today

FEBRUARY 18, 2021

New York Warns of Theft of Consumers' Information Hackers are targeting vulnerabilities in websites offering instant quotes - especially those that provide auto insurance rates - to steal consumers' information, according to an alert from the New York State Department of Financial Services.

Financial Services 264

Financial Services Insurance 264

OpenText Information Management

APRIL 19, 2021

It’s estimated that the financial services sector could see as much as $6 trillion in cybercrime damages in 2021. In fact, research shows that financial services firms are over 300 times more … The post Could digital fax be a secret weapon for cybersecurity in financial services?

Financial Services 64

Financial Services Cybersecurity IT Insurance 64

AIIM

FEBRUARY 22, 2018

Nowhere is this truer than in the financial services sector. In a recent AIIM survey, 85% of finance and insurance executives said that digital preservation was “important” or “very important” to their organizations – even higher than the 77% reported in other industries.

Digital preservation 96

Digital preservation Insurance Financial Services Digital transformation 96

Data Matters

AUGUST 19, 2020

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

Financial Services 66

Financial Services Cybersecurity Insurance Risk 66

Data Breach Today

JANUARY 25, 2023

Delinea hopes to increase sales beyond verticals such as financial services, banking, healthcare, insurance and the public sector.

Financial Services 130

Financial Services Sales Insurance Access 130

Security Affairs

AUGUST 7, 2019

The American group of insurance and financial services companies State Farm disclosed a credential stuffing attack it has suffered in July. The American group of insurance and financial services companies State Farm revealed that it was the victim of a credential stuffing attack it has suffered in July.

Insurance 104

Insurance Data breaches Financial Services Passwords 104

KnowBe4

OCTOBER 5, 2023

Menlo Security warns that a social engineering campaign is using the EvilProxy phishing kit to target senior executives across a range of industries, including banking and financial services, insurance, property management and real estate, and manufacturing.

Phishing 105

Phishing Financial Services Insurance Manufacturing 105

Hunton Privacy

JANUARY 24, 2018

On January 22, 2018, the New York Department of Financial Services (“NYDFS”) issued a press release reminding entities covered by its cybersecurity regulation that the first certification of compliance with the regulation is due on or prior to February 15, 2018.

Financial Services 58

Financial Services Cybersecurity Compliance Insurance 58

OpenText Information Management

FEBRUARY 12, 2019

We recently wrote a blog on how AI in Financial Services can improve customer experience. It came as a bit of a surprise as … The post AI in Financial Services is growing, but there’s a way to go appeared first on OpenText Blogs. It’s funny how the world works. Let me explain.

Financial Services 55

Financial Services Customer Experience Digital transformation IT 55

OpenText Information Management

JANUARY 10, 2019

The New Year is upon us, and with it come new challenges and opportunities for the Financial Services industry.

Financial Services 63

Financial Services Marketing IT Insurance 63

IBM Big Data Hub

JUNE 26, 2018

In this Q&A, IBM financial services solution architect Irina Saburova discusses an insurance use case with IBM Data Science Marketing Lead Rosie Pongracz.

Data science 73

Data science Insurance Financial Services Marketing 73

Krebs on Security

JULY 23, 2020

In May 2019, KrebsOnSecurity broke the news that the website of mortgage title insurance giant First American Financial Corp. based First American [ NYSE:FAF ] is a leading provider of title insurance and settlement services to the real estate and mortgage industries. It employs some 18,000 people and brought in $6.2

Insurance 319

Insurance Financial Services Mining Access 319