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).
Accelerate hybrid cloud transformation through IBM Cloud for Financial Service Validation Program
IBM Big Data Hub
APRIL 4, 2024
IBM has created the solution for this problem with its Financial Services Cloud offering, and its ISV Financial Services validation program, which is designed to de-risk the partner ecosystem for clients. IBM Cloud Framework for Financial services is uniquely positioned for that, meeting all these requirements.
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Data Protection in Financial Services Week 2022
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.
NYDFS releases major update to Part 500 cybersecurity requirements for financial services companies
Data Protection Report
NOVEMBER 8, 2023
On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. The Amendment also includes new governance requirements and responsibilities applicable to the CISO of all covered entities.
The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why
Rocket Software
MARCH 14, 2022
Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. Insurance and financial services are built on trust, so these changes will help organizations differentiate from competition.
Embracing new ways of working in financial services
CGI
APRIL 17, 2020
Embracing new ways of working in financial services. Although the approaches to dealing with the COVID-19 pandemic vary by country, as governments and businesses come to grips with it, one thing is imperative: we will get through this. . Blog moderation guidelines and term of use. Visit cgi.com/3R to learn more. .
What can AI and generative AI do for governments?
IBM Big Data Hub
SEPTEMBER 20, 2023
When implemented in a responsible way—where the technology is fully governed, privacy is protected and decision making is transparent and explainable—AI has the power to usher in a new era of government services. AI’s value is not limited to advances in industry and consumer products alone.
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Top 7 Data Governance Blog Posts of 2018
erwin
DECEMBER 20, 2018
The driving factors behind data governance adoption vary. Whether implemented as preventative measures (risk management and regulation) or proactive endeavors (value creation and ROI), the benefits of a data governance initiative is becoming more apparent. Defining Data Governance. www.erwin.com/blog/defining-data-governance/.
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AI Governance: Break open the black box
IBM Big Data Hub
OCTOBER 4, 2022
Customers, employees and shareholders expect organizations to use AI responsibly, and government entities are demanding it. Failure to meet regulations can lead to government intervention in the form of regulatory audits or fines, damage to the organization’s reputation with shareholders and customers, and revenue loss.
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Automated governance and trustworthy AI
IBM Big Data Hub
JUNE 7, 2022
Governments and regulatory bodies around the world are working to establish safety standards. The proposed rules aim to govern automated valuation models to protect borrowers. As governments recognize and regulate the growing use of AI for crucial decisions, enterprises should prepare proactively. In the U.S.,
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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance
Data Matters
FEBRUARY 10, 2021
On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. Lacewell stated that cybersecurity is the biggest risk for government and private organizations and described how the Framework is based on “extensive dialogue with industry and experts.”. The Framework. 1 See W.B.
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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.
Building for operational resilience in the age of AI and hybrid cloud
IBM Big Data Hub
MARCH 20, 2024
Organizations in the financial services, healthcare and other regulated sectors must place an even greater focus on managing risk—not only to meet compliance requirements, but also to maintain customer confidence and trust. Read to learn more about cloud adoption within financial services?
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AI Governance: Why our tested framework is essential in an AI world
Collibra
AUGUST 14, 2023
As we speed into a new AI era, there’s a critical element that’s often missing when organizations rush forward in hyper-competitive markets to build scalable, trusted AI programs — and that’s AI governance. An AI governance framework offers a blueprint for how to create successful AI products.
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Putting data storage at the forefront of cloud security
IBM Big Data Hub
NOVEMBER 7, 2023
Securing sensitive data in an evolving landscape Advancements like those in AI and quantum computing can pose new challenges to customers, especially those in highly regulated industries such as financial services, healthcare, telecommunications and more.
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The US government sanctioned four entities and one individual for supporting cyber operations conducted by North Korea
Security Affairs
MAY 24, 2023
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against four entities and one individual for their role in malicious cyber operations conducted to support the government of North Korea. ” reads the announcement. correspondent or payable-through account sanctions.”
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UK Government sets out proposals to shake up UK data protection laws
Data Protection Report
SEPTEMBER 28, 2021
On 10 September 2021, the UK Government published its consultation paper on proposals to reform the UK’s data protection regime. On legitimate interests, the Government proposes disapplying the legitimate interest balancing test for certain activities. The deadline for responding to the consultation is 19 November 2021.
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From principles to actions: building a holistic approach to AI governance
IBM Big Data Hub
SEPTEMBER 27, 2022
Whether it be financial services, employee hiring, customer service management or healthcare administration, AI is increasingly powering critical workflows across all industries. AI governance: From principles to actions. Sometimes an organization’s need is more tied to organizational AI governance.
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An introduction to Wazi as a Service
IBM Big Data Hub
NOVEMBER 14, 2023
With flexible consumption-based pricing, it provides on-demand access to z/OS systems, dramatically improving developer productivity by accelerating release cycles on secure, regulated hybrid cloud environments like IBM Cloud Framework for Financial Services (FS Cloud). The IBM Cloud Framework for Financial Services a.k.a
Central Bank Digital Currency (CBDC) and blockchain enable the future of payments
IBM Big Data Hub
AUGUST 17, 2023
Some time ago, banks and governments started shifting their attention towards using digital assets in their operations and economies. Banks and governments are actively seeking CBDC because it is a more secure alternative to crypto. Unlike cryptocurrencies like Bitcoin or Ethereum, CBDC is backed by the government and is legal tender.
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U.S. and Foreign Cybersecurity and Intelligence Agencies Recommend Measures to Counteract Threat of Russian Cyberattacks
Data Matters
JANUARY 28, 2022
The advisory was promptly endorsed by the National Cyber Security Centre, a division of Government Communications Headquarters (“GCHQ”), a UK intelligence agency. government, especially in light of ongoing tensions between the U.S. First , all of the reports specifically focus on the threat of Russian state-sponsored cyberattacks.
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How financial institutions can deliver value from investment in digital operational resilience
IBM Big Data Hub
DECEMBER 4, 2023
The Digital Operational Resilience Act (DORA) is a landmark piece of legislation in the European Union (EU) that is designed to help fortify the operational resilience of the financial sector, making it fit for purpose in the digital age.
5 things to know: Driving innovation with AI and hybrid cloud in the year ahead
IBM Big Data Hub
DECEMBER 18, 2023
For organizations of all types—and especially those in highly regulated industries such as financial services, government, healthcare and telco—considerations including the rise of generative AI, evolving regulations and data sovereignty laws and ongoing security challenges must be top of mind.
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6 benefits of data lineage for financial services
IBM Big Data Hub
FEBRUARY 26, 2024
The financial services industry has been in the process of modernizing its data governance for more than a decade. But as we inch closer to global economic downturn, the need for top-notch governance has become increasingly urgent. The post 6 benefits of data lineage for financial services appeared first on IBM Blog.
Collibra and Amazon Web Services (AWS) partnership reaches new heights
Collibra
JULY 14, 2023
Today, we’re excited to announce we’ve attained two new AWS Competencies under the AWS Competency Program: the Data and Analytics Competency, and the Government Competency. Collibra takes immense pride in achieving the AWS Data and Analytics Competency and the AWS Government Competency.
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Catches of the Month: Phishing Scams for October 2023
IT Governance
OCTOBER 13, 2023
So, as ever, this blog series examines recent phishing campaigns and the tactics criminals use to trick people into compromising their data. These phishing emails have reached the inboxes of users in multiple industries, including finance, manufacturing, financial services, energy, construction and healthcare.
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IBM Cloud delivers enterprise sovereign cloud capabilities
IBM Big Data Hub
FEBRUARY 22, 2024
IBM’s Enterprise Cloud for Regulated Industries Building on our expertise working with enterprise clients in industries such as financial services, government, healthcare and telco, we saw the need for a cloud platform designed with the unique needs of these heavily regulated industries in mind.
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Market Leading Cybersecurity and National Security Lawyers David Lashway and John Woods Join Sidley in Washington, D.C.
Data Matters
MAY 4, 2022
He is one of the few lawyers who has led multiple global responses to data integrity attacks involving the financial services industry. As a counselor, based on his experience in handling data integrity and operationally impactful malware incidents, he is sought out for his advice in the areas of cyber resilience and data governance.
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OCR Labs exposes its systems, jeopardizing major banking clients
Security Affairs
APRIL 6, 2023
A digital identification tool provided by OCR Labs to major banks and government agencies leaked sensitive credentials, putting clients at severe risk. Its services are used by companies and financial institutions including BMW, Vodafone, the Australian government, Westpac, ANZ, HSBC, and Virgin Money.
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Why I believe the Blockchain will transform Government
CGI
DECEMBER 11, 2015
Why I believe the Blockchain will transform Government. You may not yet have come across the Blockchain but it is making waves within the financial services community and is heralded as one of the most significant advances in technology for a generation. Blog moderation guidelines and term of use. ravi.kumarv@cgi.com.
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40 Spigraph, Everteam & ImageFast Provide Critical Information Governance Solutions to European Market
Everteam
APRIL 2, 2019
To support organizations in their efforts to manage their information properly, Spigraph is making two Everteam governance products available: everteam.discover and everteam.policy: everteam.discover is a file and content analytics solution that connects to both structured and unstructured data repositories across the organization.
Leading Antitrust and Consumer Protection Lawyer Sean Royall Joins Sidley
Data Matters
FEBRUARY 11, 2022
Sean’s practice focuses on antitrust and consumer protection litigation and government investigations. Sean, who has spent his entire career handling complex antitrust litigation matters and government investigations, is among the country’s most experienced and highly regarded antitrust lawyers.
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Bring light to the black box
IBM Big Data Hub
MAY 9, 2023
Challenges around managing risk and reputation Customers, employees and shareholders expect organizations to use AI responsibly, and government entities are starting to demand it. It drives an AI governance solution without the excessive costs of switching from your current data science platform.
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NYDFS finalizes cybersecurity rule amendments
Data Protection Report
NOVEMBER 2, 2023
On November 1, 2023, the New York Department of Financial Services (NYDFS) finalized the second amendment to its cybersecurity regulations, which are available here. The rules contain the provisions we had described in the original NYDFS proposal a year ago (see our blog post here ), but include some changes.
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#ModernDataMasters: Nicola Askham, The Data Governance Coach
Reltio
SEPTEMBER 24, 2019
Nicola Askham is the leading data governance training provider in the UK with over 16 years of experience and research in the field. She delivers training and consulting to major organisations to help them implement full data governance frameworks. ” However, I got into data governance totally by accident.
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Scary Fraud Ensues When ID Theft & Usury Collide
Krebs on Security
JANUARY 25, 2022
MSF said the personal information involved in this incident may have included name, date of birth, government-issued identification numbers (e.g., 14, 2022 breach notification letter from tribal lender Mountain Summit Financial. . According to Buckley LLP , a financial services law firm based in Washington, D.C.,
Sidley Adds Partners Seale and Wilan to Growing Cybersecurity Practice
Data Matters
JUNE 29, 2022
She advises clients in several industries, including financial services, hospitality, manufacturing, telecommunications, and energy. The post Sidley Adds Partners Seale and Wilan to Growing Cybersecurity Practice appeared first on Data Matters Privacy Blog.
Multinational ICICI Bank leaks passports and credit card numbers
Security Affairs
APRIL 20, 2023
In 2022, the ICICI Bank’s resources were named a “critical information infrastructure” by the Indian government – any harm to it can impact national security. Cybernews contacted ICICI Bank and CERT-IN, and the company fixed the issue. million files belonging to ICICI Bank.
Process Excellence: A transformational lever to extreme automation
IBM Big Data Hub
APRIL 20, 2023
Along with defining and operationalizing the right level of governance across organizational layers for efficient value orchestration and continuous improvement. This is further accelerated through a suite of ready-to-use Process Excellence applications, and a Digital COE platform for lifecycle governance.
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The time for government blockchain proofs of concept is now
CGI
MAY 15, 2018
The time for government blockchain proofs of concept is now. For the past two years, CGI has seen an exponential uptick in commercial sector interest in blockchain beyond just the financial services industry. Many government agencies also have been wading deeper into the blockchain waters. Tue, 05/15/2018 - 06:29.
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SHARED INTEL: Poll highlights the urgency to balance digital resiliency, cybersecurity
The Last Watchdog
SEPTEMBER 21, 2022
Organizations, such as financial services or government, deal with sensitive information and prefer a private cloud model with greater control over the security of applications, users, and data. and Eastern Europe, which favor public cloud. This is likely because private clouds give organizations more control over data.
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Congratulations to Sidley’s Newest Partners!
Data Matters
DECEMBER 16, 2019
Kate has strong experience involving complex privacy and data security matters and represents several large, multinational companies, as well as startups, in the healthcare, technology and financial services sectors, among others. appeared first on Data Matters Privacy Blog. The post Congratulations to Sidley’s Newest Partners!
How to responsibly scale business-ready generative AI
IBM Big Data Hub
JUNE 26, 2023
This is especially true in highly regulated industries such as financial services and healthcare where the tolerance is very low for unethical, biased decisions based on incomplete or inaccurate data and models can have detrimental repercussions. Of utmost importance is to align with trusted technologies and enterprise capabilities.
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Risk Management under the DORA Regulation
IT Governance
NOVEMBER 23, 2023
Perhaps even more concerning to EU lawmakers is how dependent society at large is on banking and other financial services. In turn, financial institutions heavily depend on ICT to be able to provide those services to begin with. That really shouldn’t surprise us – these are lucrative targets for cyber criminals.
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