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2024 Thales Global Data Threat Report: Trends in FinancialServices madhav Tue, 10/15/2024 - 05:17 Financialservices (FinServ) firms are key players in the global economy. In the 2024 survey, FinServ organizations failed a compliance audit in the last 12 months, 80% reported at least one breach in their history.
Nowhere is this truer than in the financialservices 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.
Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financialservice and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP.
On February 4, 2021, the New York Department of FinancialServices (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.
As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of FinancialServices (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.
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.
Some 27 percent of IT professionals who partook in a survey conducted by next-gen firewall supplier Imperva at RSA 2018 reported receiving more than 1 million security alerts daily. In many cases the tedious, first-level correlating of SIEM logs to sift out threats has moved beyond human capability. Sutton: Syncurity has several innovations.
This summer Dresner Advisory Services ranked Collibra as the number one vendor in their 2019 Data Catalog Study. Dresner surveyed nearly 800 business intelligence (BI) professionals to examine customer preferences, customer investment and vendor performance in the data catalog space.
PwC’s 2022 Global Economic Crime and Fraud Survey reported that 46% of surveyed organizations experienced corruption, fraud, or other economic crimes in the 24-month survey period. For example, Experian’s 2021 Global Identity and Fraud Report stated that 82% of surveyed businesses had adopted customer recognition strategies.
The insurance industry is facing unprecedented disruption. Insurance carriers have been called to transform customer experience, business offerings, and operations. As an insurer, your current business models are being challenged by new thinking, new competitors, and new ways of working.
On March 14, 2018, IBM Security announced the results of a new global study on organizational cybersecurity readiness and resiliency entitled “The 2018 Cyber Resilient Organization.” 23% of respondents say they do not currently have a CISO or security leader. Is this confidence misplaced?
But despite these problems, many shoppers do like self-service. At Coles, 40% of their transactions are through self-service checkouts and in the UK, 63% of a survey of 5,000 shoppers said they like using self-service. Image credit: Self checkout fail by ~IloveAleu CC-BY-NC-ND.
Global survey results released today found that process knowledge is the primary success factor for robotic process automation (RPA) projects, yet only 31% of US organizations are currently using process mining tools to understand their processes. 70% of US Decision Makers Find Process Insight Essential for RPA Success.
Financialservices organizations typically experience the most data breaches and hacks, which makes security a priority. In a recent survey by Microsoft, they discovered that implementing MFA alone can reduce the likelihood of an account being compromised by a whopping 99.9 Benefits for FinancialServices.
A 2021 survey found that approximately 49 percent of businesses adopted MFA in reaction to the COVID-19 pandemic. Banking, financialservices, and insurance industries constitute the largest share of adopters, with North America leading adoption, according to Orbis Research. Rise of multi-factor authentication.
In 2016, we surveyed 1,670 consumers across the U.S., Canada, the UK, France, Germany, Sweden, Singapore and Australia to get their perspectives on 12 digital FinTech services such as peer-to-peer (P2P) lending, mobile payments and robo-advice. Our survey examined the following: Value placed on these services by consumers.
On November 9, 2016, the Centre for Information Policy Leadership (“CIPL”) at Hunton & Williams LLP and AvePoint released the results of a joint global survey launched in May 2016 concerning organizational preparedness for implementing the EU General Data Protection Regulation (“GDPR”).
According to the IDG 2021 Cloud Computing Survey , the majority (55%) of organizations are now using more than one public cloud. Although cloud services can drive cost savings, their main value lies in supporting a fast-moving digital business transformation. One specific example is the case of a large insurance company.
Staying ahead of attackers is a constant battle and the cost is “unsustainable,” 81% of WEF survey respondents say. Capital markets, insurance, financialservices, and banking are now online. Organizations can lose up to 280 days as they identify and respond to an incident, and some even go out of business.
As first mentioned in part 1 of this three-part blog series, the rise in financial technology (FinTech) firms is having a disruptive impact on today’s banks, threatening their customer base and revenue through the launch of new digital services. IoT-based auto insurance pricing. Personal finance management (PFM). P2P lending.
This is the final blog in my three-part series on the disruptive impact of financial technology (FinTech) firms on today’s banks. The blog series is based on the findings of CGI’s 2016 survey of 1,670 consumers across 8 countries, which assessed consumer perspectives on 12 leading digital FinTech services.*
Common schemes include pop-ups advertising free goods or services in exchange for filling out a survey or warnings that your device has been infected. Malvertising occurs when criminals hide malicious code in ads on legitimate websites. Turn on an ad blocker. Identity-related crime doesn’t have to ruin your holidays or your life.
If your job involves selling or marketing to, servicing, retaining, analyzing or acquiring customers, it is a must read. PwC surveyed a sample of 15,000 people from 12 countries. PwC conducted eye-popping research into the future of customer experience. The report’s title sums up their findings, “ Experience is Everything.
LogicManager’s GRC solution has specific use cases across financialservices, education, government, healthcare, retail, and technology industries, among others. Case & survey management. Insurance & claims management. Additionally, Forrester named it a Contender in its Q1 2020 GRC Wave. LogicManager. Back to top.
In one recent survey by Gartner, 87% of senior business leaders affirm digitization as a top priority and in many cases a do-or-die imperative. The urgency is natural as a Harvard Business School study shows digital leaders posting a three-year average gross margin of 55%, in a sharp contrast to just 37% for digital laggards.
According to Andreessen Horowitz (link resides outside IBM.com ) , in 2023, the average spend on foundation model application programming interfaces (APIs), self-hosting and fine-tuning models across surveyed companies reached USD 7 million. 46% of survey respondents in 2024 showed a preference for open source models.
In fact, in Q3 of 2021, ISDA initiated a survey among its members about digital assets trading over the prior 12 months as a step toward developing a whitepaper for this emerging asset class. Digital Asset Prime Brokerage Offerings. Obtaining Exposure to DeFi and Assets Beyond Bitcoin.
LogicManager’s GRC solution has specific use cases across financialservices, education, government, healthcare, retail, and technology industries, among others. Case & survey management. Insurance & claims management. Additionally, Forrester named it a Contender in its Q1 2020 GRC Wave. LogicManager. Back to top.
So you need to make sure the manuals, all the work around it, right down to the geological surveys are preserved and can be accessed at any point as well. Look at mortgage documents or life insurance policies, anything around financial communications, this needs to be stored. Archiving new technology. Its a really exciting time.
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 FinancialServices, Mr. Benjamin Lawsky, “ A company’s cybersecurity is only as strong as the cybersecurity of its third-party vendors ”.
Board-management discussions about cyber risk should include identification of which risks to avoid, which to accept, and which to mitigate or transfer through insurance, as well as specific plans associated with each approach. Principle 5. Finally, corporate executives themselves are beginning to recognize cyber risk as a strategic priority.
That's right – the financialservices industry, at least according to cybersecurity vendor Armorblox's 2023 Email Security Threat Report. According to the report, the financialservices industry as a target has increased by 72% over 2022 and was the single largest target of financial fraud attacks, representing 49% of all such attacks.
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