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US banks Q3 results shine light on financial services innovation

Info Source

To respond, incumbent banks are investing in next-generation technologies, with the global banking industry spending $519 billion on IT this year, up 4.1 For example, ChatBot technology is becoming particularly popular in banking for customer service, by cutting down handling times and accelerating payments processing, enabling better customer interaction by eliminating errors and increasing efficiency. Contributed News RPA AI Mobile financial services

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Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs

Hunton Privacy

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”).

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Improve your data relationships with third parties

Collibra

Regulators are focusing on the data relationships financial services organizations have with third parties, including how well personal information is being managed. Others are realizing that they need to outsource critical services to specialist service providers. .

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New LockFile ransomware gang uses ProxyShell and PetitPotam exploits

Security Affairs

The vulnerabilities are exploited remotely through Microsoft Exchange’s Client Access Service (CAS) running on port 443 in IIS. financial organization on July 20, 2021, with its latest activity seen as recently as August 20.

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Ransomware infected systems at Xchanging, a DXC subsidiary

Security Affairs

Systems at Xchanging, a subsidiary of Global IT services and solutions provider DXC Technology was hit by ransomware over the weekend. Global IT services and solutions provider DXC Technology disclosed a ransomware attack that infected systems at its Xchanging subsidiary.

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LockFile Ransomware uses a new intermittent encryption technique

Security Affairs

LockFile ransomware gang started its operations last month, recently it was spotted targeting Microsoft Exchange servers using the recently disclosed ProxyShell vulnerabilities. What sets LockFile apart is that, unlike the others, it doesn’t encrypt the first few blocks.

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Weekly podcast: banks, Thomas Cook, London cyber court and Facebook

IT Governance

This week, we discuss operational resilience in the banking and financial market infrastructures sectors, a data breach affecting Thomas Cook subsidiaries, London’s proposed new court building and the latest development in the Facebook/Cambridge Analytica scandal. Hello and welcome to the IT Governance podcast for Friday, 13 July. It would have been relatively easy for a programmer to write a script to download the data.

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5 Ways You Can Get More from Your Terminal Emulator

Rocket Software

For businesses that rely on mainframes, secure access to the data stored there is simply a business requirement. These industries represent a wide range of employee roles and business processes where accessible information is key to accomplishing knowledge work.

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Now available: open-source drivers for IBM Db2 Connect

Rocket Software

Many global banking and financial services organizations as well as major airlines and manufacturing facilities around the world are expanding their mainframes’ capabilities using open source solutions, enabling them to reduce costs and improve efficiency while maintaining high performance. A key focus area for Rocket Software has been on developing open source drivers for its trusted tool for connection and application development: Db2 Connect.

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NYDFS proposes significant cybersecurity regulation amendments

Data Protection Report

On July 29, 2022, the New York Department of Financial Services (NYDFS) announced a “pre-proposed outreach” of material proposed changes to almost every section of its cybersecurity regulations, and would affect each entity covered by the current regulations of 23 NYCRR Part 500.

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FCA Publishes Wholesale Banks and Asset Management Cyber Multi-Firm Review Findings

Data Matters

The UK Financial Conduct Authority (“ FCA ”) has carried out a multi-firm review of cybersecurity practices with a sample of 20 firms in the wholesale banking and asset management sectors (the “ Report ”). The FCA is clear that firms should be taking proactive steps to foster a security-centric culture where cybersecurity is no longer seen as just an IT issue, but it is instead an organisation-wide priority.

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Open APIs: A coming of age

CGI

One of the hottest topics at this year’s Sibos conference in Geneva, Switzerland was open APIs (application programming interfaces), and how their introduction is causing concern among some financial institutions, while offering promising opportunities for early adopters. Regulations, such as Europe’s revised Payment Services Directive (PSD2) and others, is driving the move toward open APIs in financial services, and this blog explores some of the key technical issues discussed at Sibos.

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SER’s growth double that of ECM market competition

Info Source

(29 May 2018 – Bonn) Around 10% revenue growth: The SER Group has further strengthened its top positioning as the largest European software vendor for enterprise content management * (ECM). Offering software “Made in Germany”, its customers are primarily large mid-sized firms, corporations, organizations and administrations. One reason for the very positive development is SER’s licensing business, which increased by 25% compared to the previous year.

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