[Guide] Designing a Data Governance Program in Financial Services

Perficient Data & Analytics

Broadly speaking, data can be categorized as: Transactional Data: Data created in association with a business or accounting event. Data is the lifeblood of any company. It is the basis of management decision-making, regulatory supervision, taxation, and investor and market behavior.

Summary – “Industry in One: Financial Services”

ARMA International

The scope of a records and information management (RIM) program in financial services can seem overwhelming. History of Financial System. Shaped by several financial catastrophes of modern history, such as the Great Depression of 1929 and the Great Recession of 2007, the U.S.

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NY Department of Financial Services Issues Guidance to Regulated Entities Regarding Cybersecurity During the COVID-19 Pandemic

Hunton Privacy

On April 13, 2020, the New York Department of Financial Services (“NYDFS”) issued guidance (“April guidance”) to all New York State entities covered under NYDFS’s cybersecurity regulation regarding assessing and addressing heightened cybersecurity risks due to the COVID-19 pandemic.

Event oriented customer experience

OpenText Information Management

In my previous blog, I took a look at some of the major areas Financial Services needs to address to deliver the experience their customers demand. Customer Experience Management Industry Posts Analytics Banking Customer Experience financial services

New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting

Data Matters

On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance. Finally, life insurers are ultimately responsible for ensuring compliance with such laws through diligence, even in the event that such external data, algorithm or predictive model is provided by a third-party vendor.

NYDFS 500: Why the Regulation?

Perficient Data & Analytics

Previously, I discussed data privacy laws, specifically involving New York State Department of Financial Services (NYDFS) 23 NYCRR 500. For more information on NYDFS 500 and GDPR laws and regulations on the financial services industry, please download our guide here , or click below.

Privacy and Cybersecurity March 2019 Events

HL Chronicle of Data Protection

Please join us for our March 2019 events. Mark Brennan will discuss TCPA issues on the panel, “Financial Services and Litigation Trends,” at the American Financial Services Association (AFSA) Law and Compliance Symposium 2019. Join the Privacy and Cybersecurity team as they host two events on the CCPA, one on March 12 in Los Angeles and another on March 13 in San Francisco. March 6. Telephone Consumer Protection Act.

New York State Expected to Increase Enforcement of Cybersecurity Practices

HL Chronicle of Data Protection

It applies to any “Covered Entity,” which is defined broadly to include “any Person operating under or required to operate under a license, registration, charter, certificate, permit, accreditation or similar authorization under the Banking Law, the Insurance Law or the Financial Services Law.”

Keeping Up with New Data Protection Regulations


Compliance is an on-going requirement, so efforts to become compliant should not be treated as static events.

You’re Invited to an In-Person Event: CCPAnow: Understanding the Challenge Ahead and What You Should Be Doing Now

HL Chronicle of Data Protection

We are hosting an event on the CCPA, on April 16 in New York. How will the financial incentives and anti-discrimination provisions actually work when consumers exercise their rights? How do the CCPA’s exceptions for certain regulated companies, such as financial services, work?

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Mortgage Records: A Good Time to Review Storage Processes


Can you retrieve them quickly in the event that a borrower wants to refinance or convert an adjustable rate mortgage to a fixed rate loan? Paid tax receipts, payments made, late charges, communications regarding any delinquencies, monthly and annual statements, tax documents — these servicing history records and any other collateral material need to be added to the permanent file as they’re generated. Financial Services financial mortgage records record storage

Need BI? Get Trusted Analytics Advice by Experts, for Experts

Perficient Data & Analytics

At conferences and private events all around the country, the past few months have been full of onsite opportunities to strategize with our experts and participate in demos showcasing proven ways to advance analytics, mobility, cloud, AI, and augmented reality.

The Third Modern Data Management Summit: Making Data Work!


The event consisted of over 40 sessions and panels featured more than 60 speakers across industries. Speakers represented life sciences, healthcare, manufacturing, retail, consumer goods, financial services, consulting services, and hi-tech. Ankur Gupta, Sr.

Streamlining the Manufacturing and Automotive Treasury Function

Perficient Data & Analytics

The logical structure for this transformation includes several key components: business events, centralized demand deposit accounts with banking connectivity, and a reporting data warehouse.

Big Data Bootcamp by the Beach: An introduction

Perficient Data & Analytics

One day, I got a LinkedIn message asking if I would like to teach a Big Data Bootcamp at an event for the Universidad Abierta Para Adultos in Santiago de Caballeros, República Dominicana. I’ve worked for financial institutions as well as a major utility implementing this technology, so I felt on pretty solid experiential ground. Docker, GitHub, Google Cloud Platform, Amazon Web Services, Microsoft Azure. This is a little story about nothing ventured; nothing gained.

Reltio Supports Apple CEO Tim Cook’s Clarion Call for Stronger US Customer Data Privacy Laws


This sweeping level of visibility is invaluable in the event of a data breach. Data as a Service with traceability : Drawing from third-party sources is a major benefit, but GDPR compliance requires tracking which attributes came from where. Uncategorized Business Compliance & GDPR Financial Services & Insurance Healthcare High-Tech & Manufacturing Media & Entertainment Retail & CPG Travel & HospitalityManish Sood, CEO & Founder, Reltio.

CECL Model Alternatives

Perficient Data & Analytics

CECL requires loss estimates to include relevant information about past events, current condition and reasonable and supportable forecasts using both internal and external information, including a range of qualitative and quantitative factors. As per FASB: “When developing an estimate of expected credit losses on financial asset(s), an entity shall consider available information relevant to assessing the collectability of cash flows.

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Digital Enterprises: Built on Modern MDM


If you missed this event, check out the video presentations here to get the latest buzz in the data management industry (Login: dd19@reltio.com | Password: berightfaster). Ankur Gupta, Sr. Product Marketing Manager, Reltio.

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DataStax Advanced Security : Eat your vegetables first

Perficient Data & Analytics

Sarbanes Oxley, Basel II, the Health Insurance Portability and Accountability Act (HIPAA), the General Data Protection Regulation (GDPR), and the Payment Card Industry Data Security Standard (PCI DSS) expose regulated industries to substantial reputational and financial risk. Data & Analytics Financial Services Healthcare High Tech Big Data Cassandra compliance DataStax GBPM hipaa NoSQL

Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?

HL Chronicle of Data Protection

For example, the New York Department of Financial Services (‘NYDFS’) in March 2017 issued its Cybersecurity Regulation (23 NYCRR 500) (‘the NYDFS Cybersecurity Regulation’), a groundbreaking and far-reaching regulatory regime focused on financial institutions licensed in New York, including insurance companies. Reporting must occur within 72 hours of discovering the event.

UK Banks Must Produce Backup Plans for Cyberattacks

Dark Reading

Financial services firms in Britain have three months to explain how they would stay up and running in the event of an attack or service disruption

Peter Marta, Former Global Head of Cybersecurity Law at JPMorgan joins Hogan Lovells Privacy and Cybersecurity Practice

HL Chronicle of Data Protection

Pete is an established leader in the banking and financial services sectors. News & Events Hogan Lovells partner Privacy and Cybersecurity

Ephesoft Launches Context Driven Productivity at Enterprise Productivity Summit

Document Imaging Report

The event kicked off with Ephesoft founder and CEO Ike Kavas on “Breaking Boundaries: The State of Digital Transformation,” highlighting best practices and pitfalls seen in enterprise automation projects. The event concluded with a dinner reception and show by Big Data comedian Tim Lee.

How Data Science Experience improves accuracy for the insurance industry

IBM Big Data Hub

In this Q&A, IBM financial services solution architect Irina Saburova discusses an insurance use case with IBM Data Science Marketing Lead Rosie Pongracz. In this scenario common to the insurance industry, an organization needs to adjust its operations based on upcoming weather event and multiple weather indicators can improve forecast accuracy

(Discussion Recap) A Perfect Storm? Panel Discussion on Handling a Cybersecurity Incident

HL Chronicle of Data Protection

On Tuesday, 3 March 2020, we welcomed our financial services clients in London to a lively panel event, which covered the multitude of issues which arise in a cybersecurity incident. Peter Marta. Arwen Handley. Philip Parish. Nicola Fulford.

Webinar Invitation — Operationalizing the California Consumer Privacy Act

HL Chronicle of Data Protection

News & Events CaCPA California California Consumer Privacy Act CCPA operationalize webinar

Speak with the UX/UI Designer of OpenTable’s Community at #CNX18

Perficient Data & Analytics

Join Perficient and other Trailblazers for three days of learning from those who are driving innovation in digital marketing, commerce, and service across all industries. You Should Attend This Session if You Work In… Roles: Marketing, Service & Support, Customer Service/Experience.

Webinar Recording Available on the NYDFS Regulations

Hunton Privacy

Sotto on the new cybersecurity regulations from the New York State Department of Financial Services (“NYDFS”). The NYDFS regulations impose significant cybersecurity requirements on impacted businesses that will dictate how they plan for, respond to and recover from data security events. Sotto points out that these regulations will “affect companies far and wide,” including “any vendor that touches a New York banking, insurance or financial organization.”.

The New Cybersecurity Landscape: What the NYDFS Regulations Really Mean for Your Business

Hunton Privacy

Sotto on the new cybersecurity regulations from the New York State Department of Financial Services (“NYDFS”). The NYDFS regulations will impose significant cybersecurity requirements on impacted businesses that will dictate how they plan for, respond to, and recover from data security events. Cybersecurity Events Financial Privacy Security Breach U.S.

Fiserv and Rippleshot Announce Card Fraud Detection Partnership


Fiserv, a global provider of financial services technology solutions, announced its partnership with Rippleshot to offer Card Risk Office? Fraud Warning, an early breach detection solution that allows financial institutions to identify potential fraud events 30-60 days prior to network alerts.

MyPayrollHR CEO Arrested, Admits to $70M Fraud

Krebs on Security

On Monday, the CEO was arrested and allegedly confessed that the diversion was the last desperate gasp of a financial shell game that earned him $70 million over several years.

NYDFS Cybersecurity Regulations: A glimpse into the future

Thales eSecurity

The cybersecurity regulation ( 23 NYCRR 500 ) adopted by the New York State Department of Financial Services (NYDFS) is nearly two years old. Even though these regulations only apply to New York, financial institutions across the U.S.

Marriott Breach: More than 500 Million Guest Affected

Adam Levin

If you prefer a more laid back approach, sign up for free transaction alerts from financial services institutions and credit card companies, or subscribe to a credit and identity monitoring program, 3.

Alaris Furthers Commitment to Channel by Hosting Annual Partner Summit

Document Imaging Report

The theme of the event was Unlocking the Future, Together. Event highlights included a solutions expo with a series of interactive demos of real-world solutions for government, healthcare and financial services. 1st Run Computer Services.

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Data Citizens of the World, Unite!


Speakers will hail from a variety of sectors, including financial services, utilities, telco, technology, retail, healthcare, and universities, providing deeper insights and perspectives on common data challenges shared across industries.

What (currently ignored) privacy area might result in early enforcement action when the GDPR is in force?

Data Protector

So, what should be done to reduce the likelihood of such an event? We have 480 days to go before the General Data Protection Regulation is “in force”. And then what? That's the question I’m being increasingly asked these days.

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Q&A: Here’s how Google’s labeling HTTP websites “Not Secure” will strengthen the Internet

The Last Watchdog

This makes any personal information and details of financial transactions typed on HTTP web pages easy pickings. Mozilla and Microsoft have signaled that they each will implement similar distrust events for Firefox and Edge (formerly Internet Explorer) in the near future. It’s true that most financial services and big-name shopping websites have long ago moved to HTTPS. Editor’s note: Last Watchdog has supplied consulting services to Bitdefender.).

The Importance of “Legacy” in Colleges and Universities

Rocket Software

Most schools don’t teach it and don’t want to, yet recent events have shown that this viewpoint will become a bigger issue, especially with COBOL programming. . By Cameron Seay , guest blogger. The global economy runs on mainframes.

Cryptoassets and Smart Contracts – UK Offers Legal Clarity

Data Matters

However, because of the potential to facilitate near-instant messaging, clearing and settlement, blockchain and cryptoassets have a particularly promising potential in a financial services context. The conclusions in the Legal Statement are useful to financial services firms and to those developing new applications for financial services. European Union Financial Privacy FinTech International

Cryptoassets and Smart Contracts – UK Offers Legal Clarity

Data Matters

However, because of the potential to facilitate near-instant messaging, clearing and settlement, blockchain and cryptoassets have a particularly promising potential in a financial services context. The conclusions in the Legal Statement are useful to financial services firms and to those developing new applications for financial services. European Union Financial Privacy FinTech International