One financial services CIO warns: Don’t get comfortable.

InfoGoTo

The CIO of Daimler Financial Services, Udo Neumann, warns that although your company may be thriving now unless you transform and innovate, that success won’t last. Financial Services News Daimler Financial Services Digital transformation financial servicesLearn more here.

The Innovation Dilemma in Financial Services

Perficient Data & Analytics

Customers place a lot of value on innovation when selecting financial services products. Data & Analytics Financial Services Integration & IT Modernization Finance finance innovation financial services innovation FinTech fintechs innovative

Financial Services Data – More at risk than you’d believe

Thales Data Security

One of the top findings from the 2018 Thales Data Threat Report, Financial Services Edition was that data breaches in U.S. financial services organizations are increasing at an alarming rate.

Managed Detection & Response for Financial Services

Data Breach Today

These are among the top threats to financial institutions of all sizes. Ransomware. Phishing. Credential stuffing. But small-to-midsized ones are particularly challenged to detect and respond to threats. Arctic Wolf's Todd Thiemann discusses the value of managed detection and response

DNS Cyber Attacks Costing Financial Services Companies $924,390

InfoGoTo

According to a report entitled The 2018 Global DNS Threat Report by EfficientIP, the financial services industry is the worst affected sector by domain name systems (DNS) attacks which are cyber attacks where attackers take advantage of network vulnerabilities to break into bank systems stealthily. According to the report, last year, a single financial sector attack cost each organization $588,200 to recover.

Customer experience in Financial Services

OpenText Information Management

In a recent blog, I wrote about the increasing prominence of AI in financial services. It’s a hot topic that’s topping the agenda of most financial … The post Customer experience in Financial Services appeared first on OpenText Blogs. Enterprise World Industry Posts Analytics Customer Experience customer satisfaction customer support digital enterprise world 2018 financial services omni-channel

The Key to Scalability in Financial Services is Regtech

InfoGoTo

With the global financial crisis comes more regulations. This, in turn, is pushing financial services organizations to find ways to manage and make sure they are compliant with regulations. Because of this, regtech has become a new frontier in the financial sector. News financial services regtechRead more here.

Do AI Applications Have a Limit in Financial Services?

Perficient Data & Analytics

Dominant financial services institutions, currently, focus on; a scale of assets, mass productions, relationship exclusivity, switching costs, and dependence on the integrity of humans. The same mindset goes for artificial intelligence (AI) pairing with financial services. How AI Helps with Financial Services. “A Ultimately, AI in the financial services industry will be directed towards optimizing the customer experience.

More Financial Services Organizations are Entering the Cryptocurrency World

InfoGoTo

More and more financial services organizations are investing in cryptocurrency and TD Ameritrade and Ric Edelman are the most recent big name companies to make the move. News Uncategorized Bitcoin cryptocurrency financial servicesRic Edelman told InvestmentNews that the future is cashless and the market of digital assets is too big to ignore. Read more here.

Salesforce DMP, Financial Services Cloud & B2B Analytics Intro

Perficient Data & Analytics

What You Need to Know About Financial Services Cloud. Field Service Updates in Summer ’18 that Will Change How You Work. Self-Service or Bust: Why Connected Customer Portals are Vital to Customer Experience. Must-Know Salesforce Updates.

Digital transformation in Financial Services requires a rethink of identity management

OpenText Information Management

However, the discussion didn’t cover identity management and that’s an area that needs to be urgently addressed if Financial Service companies are … The post Digital transformation in Financial Services requires a rethink of identity management appeared first on OpenText Blogs.

Financial Services Sector Rife with Hidden Tunnels

Threatpost

Hacks Vulnerabilities Web Security attack technique data exfiltration Equifax breach financial services hidden tunnels uptickAttackers use the approach to look like legitimate traffic and hide data exfiltration in plain sight.

OpenText STP Financial Hub revolutionizes workflows in the Financial Services sector

OpenText Information Management

Recently, we completed an onboarding for a new corporate … The post OpenText STP Financial Hub revolutionizes workflows in the Financial Services sector appeared first on OpenText Blogs.

US banks Q3 results shine light on financial services innovation

Document Imaging Report

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.

Threatlist: Financial Services Firms Lag in Patching Habits

Threatpost

Most Recent ThreatLists Vulnerabilities 2018 Breaches financial services patching habits ponemon survey servicenowHalf of breached firms say they were compromised due to a vulnerability for which a patch was available but not applied.

3 ways prescriptive analytics helps deliver better financial services

IBM Big Data Hub

As any financial services executive knows, improving business results with precise, timely decisions is much harder than it looks

Financial services industry spends $1.7B on blockchain

Information Management Resources

A new study shows the budgets spent on the technology increased 67 percent last year alone, with one in 10 banks and other firms reporting spending in excess of $10 million. Blockchain Fintech Data management

3 Things the Financial Services industry should know about web archiving

Hanzo Learning Center

Remember when nothing terribly important happened on social media? When Facebook was just a silly diversion where twenty-somethings could let their friends know what they were up to? Compliance

'Hidden Tunnels' Help Hackers Launch Financial Services Attacks

Dark Reading

Hackers are using the infrastructure, meant to transmit data between applications, for command and control

President Trump Signs Financial Services Regulatory Reform Legislation

Data Matters

The Act makes many significant modifications to the postcrisis financial regulatory framework, although it leaves the core of that framework intact. One major consequence of the Act may be an increased potential for mergers, acquisitions and organic growth among regional and midsize banks, as well as community banks, because of provisions that increase the thresholds that must be met before various financial regulatory requirements apply. Initiating Online Banking Services.

New York State Department of Financial Services Challenges OCC Authority on Fintech Charters

Data Matters

Office of the Comptroller of the Currency (OCC) announced its decision (the Fintech Charter Decision) to begin accepting applications from financial technology (fintech) companies for special purpose national bank charters. The Fintech Charter Decision is discussed in greater detail in a prior Sidley Banking and Financial Services Update. placing New York financial consumers at great risk of exploitation by federally chartered entities improperly insulated from New York law.

The leader in blockchain development continues to be the financial services industry

InfoGoTo

And while there have been advances of this technology in many industries, a PwC survey has found that financial services continues to be a leader in blockchain development. Blockchain has the potential to offer value in many industries. Read more here. News blockchain

Financial Services Organizations Face More Sophisticated Threats Than Others

Dark Reading

With companies in the financial sector getting better at blocking ordinary threats, attackers have begun going after them with more sophisticated malware, Lastline says

With RPA, You’re One Step Closer to AI

Perficient Data & Analytics

Recent research from the Digital Banking Report found that only 13% of financial organizations globally have deployed at least one artificial intelligence (AI) solution.

Using Machine Learning To Gain an Edge in The Financial Services Market

Rippleshot

When discussions about fraud, payments and security arise, you won't get long into a converstion before machine learning and artificial intelligence (AI) come into the mix. Through the application of high-performance software, machine learning technology has created advanced computing abilities that have a broad-scale reach for community banks that allow them to better compete against the bigger banks.

NY Department of Financial Services Issues Reminder for Cybersecurity Filing Deadline

Hunton Privacy

On January 22, 2018, the New York Department of Financial Services (“NYDFS”) issued a press release reminding entities covered by its cybersecurity regulation that the first certification of compliance with the regulation is due on or prior to February 15, 2018. As DFS continues to implement its landmark cybersecurity regulation, we will take proactive steps to protect our financial services industry from cyber criminals.”.

New Data Shows Why Consumers Change Banks

Perficient Data & Analytics

You literally had to be driven away by horrible service or high fees – it was just way too much of a hassle to change accounts, get new checks and set up all that automatic bill payment stuff. population to value innovation when selecting financial services products.

A deeper dive into intelligent recommendations

OpenText Information Management

Analytics Industry Professional Services AI financial services intelligent recommendation OpenText Professional Services recommendationsIntelligent recommendations, or recommendation engines as they are also called, are everywhere.

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The Most Valuable Benefit of Salesforce Financial Cloud

Perficient Data & Analytics

How familiar is your organization with the flexibility and integration Financial Services Cloud offers? The solution helps improve the customer experience, strengthen client relationships, and drive new business by integrating sales, service, and marketing.

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What will it take for Congress to act on a data breach?

Information Management Resources

Data breaches Cyber security Finance, investment and tax-related legislation Enforcement Data security Equifax FTC House Financial Services Committee Senate Banking CommitteeFamiliar recriminations and calls for legislation from lawmakers followed the massive hack of the Starwood hotel chain, but will Capitol Hill actually do anything?

Artificial Intelligence Is Set to Rewrite the Rules of Insurance

InfoGoTo

The last thing an insurer wants to do is put the customer on hold while a service representative sifts through history files. Financial Services Training & Awareness artificial intelligence insurance claims insurance industry machine learning

Customer experience as a catalyst for digital transformation

OpenText Information Management

With 63% of Financial Services organizations either planning or formally engaged in digital transformation initiatives, how does a financial brand drive conversion, create loyalty and maintain a competitive edge?

Competitive Advantages of Implementing Artificial Intelligence in Banking

InfoGoTo

That lowers risk, enabling the institution to invest in better products and services. Financial firms that act quickly to apply these new tools will gain a significant competitive edge.

Capitec Bank innovates to create real-time client interaction

OpenText Information Management

How can digital technologies help banks gain a competitive advantage in today’s highly competitive financial services sector? Enterprise Content Management Banking Capitec Bank Captiva Case Studies Documentum Documentum xCP enterprise content management financial services xPression

The future of API banking dominates SIBOS

OpenText Information Management

Analytics Information Management API API developers API in banking API integration Cloud Services financial services SIBOSSomething that barely raised any interest only two years ago was the focus of many of the discussions at this year’s SIBOS.

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

AllianceBernstein’s Mobile App Empowers Sales Teams in Real Time

Perficient Data & Analytics

Cloud Data & Analytics Development Financial Services Integration & IT Modernization MicroStrategy Mobile Salesforce alliancebernstein dreamforce field sales Sales sales app salesforce simonHow to Best Enable On-the-Go Sellers.

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Establishing Authoritative Sources in Data Governance

Perficient Data & Analytics

Before a financial institution can agree on authorized sources of data, there must first be a common understanding of the type of data being sourced.

Responsibility of Data Architecture in Data Governance

Perficient Data & Analytics

This needs to be abstract enough to gain acceptance across the financial institution, yet maintain an appropriate level of detail required to support clear ownership.

Can this data security bill succeed where others failed?

Information Management Resources

Cyber security Cyber attacks Data breaches Finance, investment and tax-related legislation House Financial Services Committee EquifaxA bipartisan bill to establish a federal security framework follows a string of efforts beset by congressional turf battles.

Give the people what they want: Better financial product recommendations

OpenText Information Management

Analytics Industry Posts AI artificial intelligence Banking Customer Experience data exhaust financial planning financial services mass customization offers unstructured data

Perficient Helps Adjust to the California Consumer Privacy Act

Perficient Data & Analytics

The first step any financial institution must take in its response to the new CCPA law is to evaluate its exposure and current state of readiness. Implementation: Technical services to consolidate customer data, develop governance and approval workflows, and make infrastructure upgrades. Our risk and compliance practice has a proven track record of helping financial firms understand and react to regulatory mandates. Perficient + Financial Services.

Getting Started with California Consumer Privacy Act Compliance

Perficient Data & Analytics

Data recipients: Compile a list of entities, such as administrators, custodians, transfer agents, investment managers, and other service providers. After the initial assessment is complete, financial institutions will be in a position to: Confirm what personal data they hold and for what purpose. Compliance with the CCPA requires robust processes for identifying, governing, distributing, and securing consumer personal information.