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The importance of data quality in Financial Services

Collibra

Financial services are highly regulated and maintain a strong focus on compliance and risk management. Considering that major financial organizations handle enormous amounts of data today, they require data accuracy and integrity at all times to minimize risks. What is data quality in financial services?

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ABBYY Releases Research: State of Process Mining and Robotic Process Automation

Info Source

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. Process mining . Streamlining HR onboarding.

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NY Charges First American Financial for Massive Data Leak

Krebs on Security

According to a filing (PDF) by the New York State Department of Financial Services (DFS), the weakness that exposed the documents was first introduced during an application software update in May 2014 and went undetected for years. First American released its first quarter 2020 earnings today.

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First American Financial Pays Farcical $500K Fine

Krebs on Security

However, documents from New York financial regulators show First American was unable to determine whether records were accessed prior to Jun 2018 (one year prior to fixing the weakness). According to the FBI, BEC scams are the most costly form of cybercrime today.

Insurance 270
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ABBYY Partners with Alteryx Extending the Alteryx Analytic Process Automation Platform with Deeper Process Intelligence

Info Source

6, 2020 – ABBYY , a Digital Intelligence company, announced today that it has partnered with Alteryx, Inc. We see examples in financial services, insurance, transportation and logistics, healthcare and other industries where gaps in insight can have a huge impact on the customer experience. MILPITAS, Calif.,

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NYDFS Announces a Series of Virtual Currency Initiatives

Data Matters

On June 24, 2020, the New York State Department of Financial Service (NYDFS) announced a series of virtual currency initiatives aimed at providing additional opportunities and clarity for BitLicense and limited-purpose trust company applicants and licensees. Adopting and Listing of New Virtual Currencies.

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Top GRC Tools & Software for 2021

eSecurity Planet

Archer was named a Leader in Gartner’s 2020 Magic Quadrant for IT risk management and IT vendor risk management tools. Additionally, Forrester named it a Contender in its Q1 2020 GRC Wave. Like other competitive GRC solutions, it speeds the process of aggregating and mining data, building reports, and managing files.