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Ransomware infected systems at Xchanging, a DXC subsidiary

Security Affairs

Xchanging is a business process and technology services provider and integrator, which provides technology-enabled business services to the commercial insurance industry. Xchanging is primarily an insurance managed services business that operates on a standalone basis.”

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Analytics and AI in Financial Services: Shifting from Efficiency to Customer-Centric Innovation

OpenText Information Management

For over a decade, financial institutions have been at the forefront of adopting analytics and AI solutions. But, in reality, it exposes traditional banks, insurance companies and investment firm to a slow erosion of market share, brand relevance, and customer trustespecially among younger, tech-savvy demographics. Functional?

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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (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.

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Multinational ICICI Bank leaks passports and credit card numbers

Security Affairs

If malicious actors accessed the exposed data, the company could have faced devastating consequences and put their clients at risk, as financial services are the main target for cybercriminals. ICICI Bank’s response Threat to financial accounts Finance and insurance are one of the most targeted industries by cybercriminals.

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Infosource Global IDP Vertical Market Analysis 2023-2024 Update

Info Source

The most advanced sectors in digital transformation, such as Banking and Insurance, are leading in AI adoption. Sector-Specific Opportunities : The report identifies significant opportunities in sectors with advanced digital transformation, such as Banking, Insurance, Healthcare, and Manufacturing.

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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“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.

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Gen Z & the future of finance: Fast, digital, and personalized

OpenText Information Management

Financial Services Institutions (FSIs) face a pivotal moment: capturing the attention and loyalty of Generation Z (Gen Z). Born between 1997 and 2012, this digitally native cohort is redefining financial landscapes with expectations for instant results, ethical practices, and seamless digital experiences.