Top predictions for financial services in 2023
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 Insurance Presentation 
How generative AI delivers value to insurance companies and their customers
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.
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Multinational ICICI Bank leaks passports and credit card numbers
Security Affairs
APRIL 20, 2023
ICICI Bank leaked millions of records with sensitive data, including financial information and personal documents of the bank’s clients. ICICI Bank, an Indian multinational valued at more than $76 billion, has more than 5,000 branches across India and is present in at least another 15 countries worldwide.
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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation
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.
NEW TECH: This free tool can help gauge, manage third-party cyber risk; it’s called ‘VRMMM’
The Last Watchdog
JANUARY 30, 2019
Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.
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NEW TECH: Cequence Security deploys defense against botnets’ assault on business logic
The Last Watchdog
MARCH 26, 2019
Pick any company in any vertical – financial services, government, defense, manufacturing, insurance, healthcare, retailing, travel and hospitality – and you’ll find employees, partners, third-party suppliers and customers all demanding remote access to an expanding menu of apps — using their smartphones and laptops.
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ICYMI – Late December in privacy and cybersecurity
Data Protection Report
JANUARY 30, 2023
educational enrollment or opportunity; e. employment opportunities; f. financial or lending services; g. health-care services; h. housing; or i. insurance. The other four requirements were already present in New York’s General Business Law § 399-z. 7. a (Yes).
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Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?
HL Chronicle of Data Protection
MAY 13, 2019
In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.
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What is Cybersecurity Risk Management?
eSecurity Planet
FEBRUARY 11, 2022
The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. Risk management is a concept that has been around as long as companies have had assets to protect. Maintaining Regulatory Compliance.
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Regulatory Update: NAIC Fall 2020 National Meeting
Data Matters
DECEMBER 28, 2020
The National Association of Insurance Commissioners (NAIC) held its Fall 2020 National Meeting (Fall Meeting) December 3-9, 2020. NAIC Adopts the Group Capital Calculation Template and Instructions and Related Revisions to the Insurance Holding Company Act. Insurance groups will be exempt from filing a GCC if. groups to non-U.S.
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From the Basement to the Boardroom: The Evolution of Data Management
Reltio
FEBRUARY 23, 2023
Health insurance companies need an accurate view of providers to enable better patient experience, such as a best-in-class physician finder. The rising adoption of value-based care models has presented significant data challenges for healthcare providers. Providers need to adopt value-based care to get money from insurance companies.
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CyberheistNews Vol 13 #13 [Eye Opener] How to Outsmart Sneaky AI-Based Phishing Attacks
KnowBe4
MARCH 28, 2023
At present, the most important area of relevance around AI for cybersecurity is content generation. I've written quite a few times about specific cyber insurance claim cases that required going to court to settle. I've written quite a few times about specific cyber insurance claim cases that required going to court to settle.
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Accelerate IFRS-17 Compliance with Data Intelligence Cloud
Collibra
JANUARY 27, 2022
The long awaited International Financial Reporting Standard (IFRS-17) is finally upon us – coming into effect on January 1, 2023. IFRS-17 is one of the most consequential accounting standards enacted in decades for the recognition, measurement, presentation and disclosure of insurance contracts. Why is IFRS-17 important?
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Regulatory Update: NAIC Summer 2019 National Meeting
Data Matters
SEPTEMBER 4, 2019
The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. The amended regulation took effect on August 1, 2019, for annuity products and will become effective on February 1, 2020, for life insurance products.
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Ripcord announces standalone IDP software
Info Source
MAY 30, 2024
The company is targeting an enterprise version of Docfai at legal, insurance, financial services, auditing and merger and acquisition type applications. According to a presentation for potential investors, Ripcord was on target for $22.5 Ripcord plans to introduce a paid tier of Docufai at some point this year.
Webinar Recording Available on the NYDFS Regulations
Hunton Privacy
MARCH 16, 2017
Sotto on the new cybersecurity regulations from the New York State Department of Financial Services (“NYDFS”). Sotto points out that these regulations will “affect companies far and wide,” including “any vendor that touches a New York banking, insurance or financial organization.”.
2025 IDP Market Dynamics
Info Source
JANUARY 30, 2025
While 2025 will still present challenges, there is light at the end of the tunnel. However, the training, customisation, and deployment of Large Language Models (LLMs) present major challenges related to their energy consumption. Digital transformation itself supports circular economy initiatives.
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Are CISOs of Security Vendors in Your Community?
Lenny Zeltser
JUNE 21, 2024
Further down were CISOs at financial services or insurance firms. Typically, these costs are covered by vendor sponsorships, which allow vendors to present, advertise, and otherwise expand their brand equity. For such presentations, the organizers often require that the speaker not be in sales or marketing.
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The Week in Cyber Security and Data Privacy: 6 – 12 November 2023
IT Governance
NOVEMBER 13, 2023
On 14 September, Mulkay discovered that the compromised files contained personal information, including “name, address, date of birth, Social Security number, driver’s license number or state ID, medical treatment information, and health insurance information”. Records breached: 79,582 Ontario hospitals update: information relating to 5.6
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Top 4 takeaways from the Gartner Data and Analytics Conference
Collibra
MAY 14, 2021
This conference brought together data and analytics leaders from top industries such as government, banking, financial services, insurance, and manufacturing. Gartner emphasized and reiterated the concept of adaptation in a number of presentations. Last week I attended the virtual Gartner Data and Analytics Summit.
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What is a Cyberattack? Types and Defenses
eSecurity Planet
JUNE 16, 2022
Capital markets, insurance, financial services, and banking are now online. This presents a unique opportunity for cyber criminals. With the rise of the digital economy, e-wallets, cryptocurrencies, and digital assets, the way the world does business has transformed.
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Multi-Factor Authentication Best Practices & Solutions
eSecurity Planet
OCTOBER 5, 2021
Banking, financial services, and insurance industries constitute the largest share of adopters, with North America leading adoption, according to Orbis Research. Security experts advise IT professionals to protect the entire information pipeline since even fourth-party vendors can present a security risk.
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ABBYY Opens Office in Hong Kong to Strengthen Presence in Asia
Info Source
JULY 16, 2019
ABBYY is currently present in most countries in Asia with long-established offices in Taiwan and Japan and through its strong partner network. ABBYY has long been active in the Asia-Pacific markets with many successful large-scale implementations in banking and financial services, insurance, telecom, government, and other verticals.
Unlocking the power of chatbots: Key benefits for businesses and customers
IBM Big Data Hub
JANUARY 18, 2024
Reduce operational costs and boost efficiency Chatbots present the option to reduce 24×7 staffing expenses or even eliminate after-hours staffing costs, provided your chatbots can effectively handle most questions. As a result, when a live agent takes over, much of the anger has already dissipated, preventing potential rudeness or abuse.
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Ransomware Protection in 2021
eSecurity Planet
FEBRUARY 16, 2021
Healthcare and financial services are the most attacked industries. While the above vendors present mostly pre-attack protection tools, additional vendors are starting to offer rapid response to ransomware. Ransomware facts. Losses for business averaged $2,500 per incident, and ransom demands average $13,000 ( Comparitech ).
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Ephesoft Launches Context Driven Productivity at Enterprise Productivity Summit
Info Source
FEBRUARY 11, 2020
It ultimately presents this data and their relationships in enterprise knowledge graphs to fuel process automation and decision-making. solutions include mortgage origination, healthcare patient records, employee onboarding, tax form and insurance claims processing.
Kodak Alaris and Newgen Software Announce Global Strategic Alliance to Enable Digital Workplace Solutions
Info Source
JANUARY 29, 2019
The plaque was presented to recognize Newgen for their partnership and to thank them for visiting the new Kodak Alaris Experience Center in Rochester, NY (USA). Diwakar Nigam, Newgen Managing Director and CEO, receives a special plaque from Mr. Don Lofstrom, President and General Manager, Alaris, a Kodak Alaris business. ROCHESTER, N.Y.,
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40 CIPL and AvePoint Release Global GDPR Readiness Report
Hunton Privacy
NOVEMBER 10, 2016
Telecommunication and technology companies were the most represented respondents, followed by insurance and financial services companies, as well as pharmaceutical and healthcare companies. and less than half operate in South America and Asia.
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Institutional Investor’s Introduction to Blockchain and Digital Asset Investing
Data Matters
NOVEMBER 2, 2021
Building off an existing futures trading relationship and its documentation presents advantages for the institutional investment manager. Some of the larger, well-known cryptocurrency market participants and service providers are beginning to offer institutional versions of their products to investment managers and their funds.
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Spigraph, Everteam & ImageFast Provide Critical Information Governance Solutions to European Market
Everteam
APRIL 2, 2019
ImageFast is an award-winning consulting and technical services company that has been delivering information governance solutions to the insurance and finance markets for over 20 years. “We Spigraph is also pleased to announce ImageFast as a reseller of the Everteam Information Governance products. About Everteam.
Survey Says…Cybersecurity Remains A Critical Challenge For Business
Privacy and Cybersecurity Law
MARCH 23, 2018
These low results for cyber preparedness and resiliency present a significant risk for business. 34% assess device and system interconnectivity and vulnerability across the business ecosystem.
Top GRC Tools & Software for 2021
eSecurity Planet
JANUARY 21, 2021
LogicManager’s GRC solution has specific use cases across financial services, education, government, healthcare, retail, and technology industries, among others. Insurance & claims management. Then, you can download relevant data sets and export them as spreadsheets, PDFs, or presentations. LogicManager. Back to top.
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Infosource Global Capture & IDP Vertical Market Analysis 2022-2023 Update
Info Source
DECEMBER 8, 2023
The lack of Telecoms infrastructure and digital skill development presents a hurdle; however, where investments by local government or overarching organisations close the gap, they will enable in particular economies with young populations. Generative AI solutions present an important opportunity for the integration in IDP solutions.
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Top 10 Governance, Risk and Compliance (GRC) Vendors
eSecurity Planet
JANUARY 21, 2021
LogicManager’s GRC solution has specific use cases across financial services, education, government, healthcare, retail, and technology industries, among others. Insurance & claims management. Then, you can download relevant data sets and export them as spreadsheets, PDFs, or presentations. LogicManager. Back to top.
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Conversational AI use cases for enterprises
IBM Big Data Hub
FEBRUARY 23, 2024
Banking and financial services: AI-driven solutions are making banking more accessible and secure, from assisting customers with routine transactions to providing financial advice and immediate fraud detection. Conversational AI is also making significant strides in other industries such as education, insurance and travel.
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Getting ready for artificial general intelligence with examples
IBM Big Data Hub
APRIL 18, 2024
Image (55%): Gen AI can simulate how a product might look in a customer’s home or reconstruct an accident scene to assess insurance claims and liability. Education Imagine an AGI tutor who doesn’t present information but personalizes the learning journey. The skills gap in gen AI development is a significant hurdle.
FTC Seeks Comment on Proposed Changes to GLBA Implementing Rules
HL Chronicle of Data Protection
MARCH 14, 2019
The proposed Rule would require FIs to take reasonable steps to select and retain service providers that are capable of maintaining appropriate safeguards for customer information and to periodically assess service providers based on risk they present.
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40 Assessing the Impact of the Barbados’ Proposed Data Protection Bill on the Barbadian Private Sector
Data Matters
SEPTEMBER 24, 2019
In Barbados, the public consultation on a draft privacy bill has already taken place and an amended bill has been presented to a Joint Select Committee of both Houses of the Barbados Parliament on May 31, 2019. The BDPA was passed by the BDPA on July 24, 2019 and now awaits the Governor-General’s signature. An Overview of the BDPA.
Privacy and Cybersecurity Top 10 for 2018
Data Matters
JANUARY 2, 2018
At present, litigation of this type has typically failed at the pleadings stage due to plaintiffs’ failure to demonstrate the “injury in fact” necessary for Article III standing. State legislatures, insurance commissions, attorneys general and regulatory agencies are moving to develop detailed cybersecurity requirements.
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US: Coronavirus – Cybersecurity considerations for your newly remote workforce
DLA Piper Privacy Matters
APRIL 2, 2020
Working remotely, or “teleworking,” presents unique cybersecurity challenges to the employer, the employee and the supply chain, especially when being done for the first time in a rapidly changing environment. This may be the fastest and most disruptive technological shift in global work conditions in history.
8 Interesting Predictions for the Intelligent Information Capture Market in 2022
Info Source
MARCH 16, 2022
That said, a significant number of transactional business inputs continue to arrive in paper form and need to be digitized before they can be processed, which presents a challenge in a home office environment. Infosource analysts track both Capture Software and Capture Hardware devices.
California Consumer Privacy Act: The Challenge Ahead — Introduction to Hogan Lovells’ Blog Series
HL Chronicle of Data Protection
SEPTEMBER 12, 2018
The series builds on the CCPA overview we recently presented via webinar. We will explore the ramifications for businesses of this seminal legislation in this multi-part series, The Challenge Ahead, authored by members of Hogan Lovells’ CCPA team. provide additional CCPA analyses and reports. provide additional CCPA analyses and reports.
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8 Interesting Predictions for the Intelligent Information Capture Market in 2022
Info Source
MARCH 16, 2022
That said, a significant number of transactional business inputs continue to arrive in paper form and need to be digitized before they can be processed, which presents a challenge in a home office environment. Infosource analysts track both Capture Software and Capture Hardware devices.
Cybersecurity: Managing Risks With Third Party Companies
Cyber Info Veritas
JULY 19, 2018
This is according to a recent survey conducted by Soha Systems, and according to one of the speeches delivered by the Superintendent of the New York State Department of Financial Services, Mr. Benjamin Lawsky, “ A company’s cybersecurity is only as strong as the cybersecurity of its third-party vendors ”.
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