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Key findings from a recent study that surveyed the state of adaptive authentication in FIs. In this webinar, OneSpan and ISMG summarize key findings from a recent study that surveyed the state of adaptive authentication.
Also: Highlights from ISMG's FinancialServices Summit and Key Insights on AI Adoption On the 200th episode of the ISMG Editors' Panel, the team discussed the major China-linked cyberespionage campaign targeting U.S.
Survey: Cybersecurity, Regulatory Concerns May Slow Digital Asset Adoption Although a majority of financialservices executives predict that cryptocurrency will replace or rival fiat currency within the next five to 10 years, they say cybersecurity, regulatory and privacy issues are among the biggest obstacles to its adoption, according to a survey (..)
Defending FinancialServices Against Fraud in a Shifting Cyber Landscape sparsh Tue, 11/14/2023 - 05:05 As we approach International Fraud Awareness Week during 12-18 November 2023, taking stock of the evolving threat landscape and the vulnerabilities that financialservices organizations face is crucial.
Hanover Research recently conducted a survey that investigates the role of analytics from the perspective of knowledge workers, people who handle or use information as part of their jobs.
The recent Gartner’s 2018 CIO Agenda Survey found that digital transformation is more important for banking than any other industry sector. The CIOs talked about enabling technologies such as AI, APIs and analytics.
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.
Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financialservice and insurance industries. Insurance and financialservices are built on trust, so these changes will help organizations differentiate from competition.
Financialservices continue to lead in cybersecurity preparedness, but chinks appear in the armor. It highlights the leadership of financialservices in cybersecurity relative to other industries, but it also uncovers some surprising chinks in their cybersecurity armor. Thu, 09/01/2022 - 05:15.
A recent survey conducted by Forrester Consulting on behalf of Experian reveals that business leaders in the financialservices and telecommunications sectors are increasingly leveraging Generative AI (GenAI) and data-driven Read more The post GenAI and Data Analytics Drive Competitive Edge in FinancialServices and Telecom appeared first on Information (..)
FinancialServices Organizations Need to Adapt their Security Practices to the Shifting Environment. Even “traditional banks” seek to drive more revenue from digital products, personalized services and experiences. At the same time, financialservices organizations need to adapt to a shifting global environment.
On February 4, 2021, the New York Department of FinancialServices (NYDFS) issued Circular Letter No. Based on NYDFS’s survey, 36% of insurers already require their cyber insurance insureds to notify law enforcement of a cyberincident. The post New York Department of FinancialServices Issues First Guidance by a U.S.
To gain these insights, A10 Networks surveyed 2,425 senior application and network professionals from across ten regions around the globe. Organizations, such as financialservices or government, deal with sensitive information and prefer a private cloud model with greater control over the security of applications, users, and data.
A vast majority of companies in a global survey from Microsoft report being a victim of a firmware-focused cyberattack, but defense spending lags, but defense spending lags. 82% of respondents to Microsoft’s survey admitted that they don’t have the resources to allocate to prevent firmware attacks. and the U.S. UK, and Japan.
This is exemplified in a recent survey I ran, which found that over 80% of practitioner respondents stated they use their SIEM primarily for detection and response use cases. However, there are cases where enterprises, like large players in the financialservices vertical, simply need to collect ridiculously vast amounts of data.
According to Ford, “65% of companies we surveyed said they didn’t want to do anything that would impact business velocity.” The consumption of public cloud services is growing at a great rate, as is the adoption of newer layers of abstraction like wider use of APIs, microservices, containers and container orchestration, Ford observes.
In an AIIM survey, 66% of people reported that paper use in their organization wasn't declining - in fact, 42% said that paper use was increasing. Many legal and financialservices still require paper records in certain situations—real ink signatures on contracts over digital signatures. However, this is not the case.
For example, most EMEA and North American financialservices businesses are moving to multi-clouds within the next two years. Gartner reports 81 percent of surveyed public cloud users are already working with multi-clouds. Many companies are moving to multi-cloud deployments. I disagree.
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.
Perhaps the more important benefits of the Digital Mailroom are the not-so-obvious ones that are consistently found in AIIM surveys on this topic. Another strong factor that is particularly relevant to the digital mailroom application is improved customer service due to the immediate accessibility of incoming correspondence.
A candy store for hackers A recent Forrester workforce survey showed that by mid 2020, 58 percent of corporations worldwide had at least half of their employees working from home, where an average of 11 devices lurk — connected to the internet. The attackers successfully got a foothold on the exec’s MacBook.
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.
He is one of the few lawyers who has led multiple global responses to data integrity attacks involving the financialservices industry. John Woods is a globally acknowledged leader in handling cybersecurity matters, data governance, trade secret theft, and related investigation and disputes matters.
The 2018 FinancialServices Industry Survey Report confirms numerous compliance functions, from initial inquires through customer off-boarding, as key challenges for financial institutions, with 91% citing the “time/cost required from concept to reality” and 86% pointing to “budget constraints” as primary impediments.
It’s true that most financialservices and big-name shopping websites have long ago moved to HTTPS. W3Techs’ June 2018 survey shows that 35 percent of the top 10 million websites have adopted it.
In an article in Legaltech® News ( Almost Half of Companies Haven’t Started CCPA Compliance: Survey , written by Frank Ready), a recent survey of 250 executives and managers at U.S. According to the survey, a large majority of respondents, 71 percent , expect to spend at least $100,000 on compliance efforts.
According to a Global Workplace Analytics survey of employees working remotely during the pandemic, 73% note that they are very successful when working from home, and 86% say they feel “fully productive” working from their home office. The pandemic has changed the world and with it – our perspective. Compliance and Remote Work.
Data security professionals also make ambitious plans, but implementation rates are too low – a key finding in the 2019 Thales Data Threat Report-FinancialServices Edition. Here’s a look at four common issues highlighted in the 2019 Thales Data Threat Report-FinancialServices Edition and tips for overcoming them.
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.
To compound these issues, repeated surveys highlight “testing” as the primary area causing delays in project timelines. The platform can be automated through a standardized framework validated for FinancialServices, leveraging the IBM Cloud Security and Compliance Center service (SCC).
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?
In another attack, a large financialservices institution received over 350,000 login attempts in just one afternoon. During the week, the union observed 315,000 malicious login attempts from nearly 20,000 different IP addresses, while the number of HTTP User Agent connections was 4,382 from fewer than 2,000 autonomous system numbers.
But there’s no doubt that the exodus to a much greater dependency on hybrid cloud and multi-cloud resources – Infrastructure-as-a-Service ( IaaS ) and Platforms-as-a-Service ( PaaS ) – is in full swing. Murray: Almost half of survey respondents didn’t fully understand their responsibilities for securing cloud environments.
A recent data privacy survey by McKinsey & Company asked 1,000 consumers to rank the most trusted industries in protecting privacy and data. Healthcare and financialservices had the highest ranking, both at 44%, with government, media, and entertainment bringing up the rear around the. View Article.
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 full digitization of contracts, subscriptions and consumption of services. This drive towards digital transformation allowed financialservices to be one of the sectors that better weathered the Covid 19 pandemic. How Thales can help. The increased risk of non-compliance with government regulations and industry mandates.
A recent Sophos survey of 2,700 IT managers in organisations with 100-5,000 employees around the world, revealed that many businesses are not prepared for ransomware attacks. 54% of those surveyed had experienced an attack within the past year. Healthcare was the most affected industry (76%) and financialservices the least (45%).
According to recent research by KPMG , 73% of the surveyed organisations had experienced at least one significant disruption, caused by a third party, within the last three years, while 85% said that their business considers third party risk management (TPRM) a strategic priority.
According to the 2024 AFP Payments Fraud and Control Survey Report , 80% of organizations were victims of payment fraud attacks or attempts, a 15-percentage point increase from the previous year. As stated in the Nasdaq 2024 financial crime report, projected losses from fraud schemes reached $485.6 billion globally in 2023.
With every financialservices organization focused on making better and faster decisions, data professional and business leaders are eager to better understand how AI can facilitate their strategic goals. Financialservices orgs, especially those in capital markets, frequently has been on the forefront of generative AI investment.
As part of the public discussion, the Commission, the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the UK Financial Conduct Authority (FCA) were present to provide their thoughts. Firms interested in cryptoassets should watch for EU regulatory guidance later this year. 3 Available at [link].
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