Expert insights. Personalized for you.
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
How can financial services institutions better protect employee passwords? One of the most common threat vectors plaguing financial services institutions is the employee password MORE
Customers place a lot of value on innovation when selecting financial services products. An organization can: Manage the status-quo by incrementally improving the existing offering to the existing customer base; Evolve the current offering by adding new products and services but sticking to its captive market; Adapt the existing offering to target prospective customers in new market segments or territories; and. MORE
My previous blog post addresses the reasons for the regulation and the requirements associated with the New York State Department of Financial Services (NYDFS) 23 NYCRR 500. Data protection must be designed into the development of business processes for products and services. Non-compliance with the regulation can result in a fine up to $20 million or up to 4% of the annual worldwide turnover of the preceding financial year. MORE
One of the latest brands to gain “household verb” status is the ride-sharing service Uber. … The post Pulling an Uber: Customer experience in Financial Services appeared first on OpenText Blogs. Brands like Velcro and Kleenex have become so much a part of people’s lives that they are now used as universal references for all products in that category – or sometimes used as verbs, as is the case with Google. MORE
The New Year is upon us, and with it come new challenges and opportunities for the Financial Services industry. Enterprise World Industry 2019 financial services financial services industry financial services institutions Insurance trends MORE
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. Gartner Names Salesforce a Leader in Magic Quadrant for Enterprise High-Productivity Application Platform as a Service. What You Need to Know About Financial Services Cloud: A Case Study. Must-Know Salesforce Updates. MORE
The first step any financial institution must take in its response to the laws is to evaluate its exposure and current capabilities in protecting sensitive business and customer data. Implement: Technical services are required to create/ update cybersecurity policies and procedures. For more information on NYDFS 500 and GDPR laws and regulations on the financial services industry, please download our guide here , or click below. MORE
A survey by Vuealta found that fiancial services leaders are far more concerned about compliance and cybersecurity than the financial services startups they are in competition with. Financial Services News financial services fintech fintech startupsThis may be a mistake. Read more here. MORE
As any financial services executive knows, improving business results with precise, timely decisions is much harder than it looks MORE
Financial institutions interacting with customers online must prepare for a broader, more sophisticated variety of threats MORE
We recently wrote a blog on how AI in Financial Services can improve customer experience. It came as a bit of a surprise as … The post AI in Financial Services is growing, but there’s a way to go appeared first on OpenText Blogs. It’s funny how the world works. Then, my bank showed me that there’s still some work to be done. Let me explain. Last week, I received a letter from my bank. MORE
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. Digital Transformation financial services identity management MORE
Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation. Cloud - whether public, private or a hybrid approach - is foundational to achieving DX objectives, as is secure, resilient and scalable network connectivity. Customers demand a seamless experience across all digital channels MORE
Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation. Cloud - whether public, private or a hybrid approach - is foundational to achieving DX objectives, as is secure, resilient and scalable network connectivity. Customers demand a seamless experience across all digital channels MORE
Previously, I analyzed the types of data in a governance program for financial services companies. Requesting access to data should be automated through workflows to facilitate and speed the servicing of requests as to not hinder productivity. Data & Analytics Financial Services data governance Data Governance Strategy in Financial Services Data Strategy financial services data financial services data governance MORE
As the world confronts new challenges, it is a unique, unprecedented time to recast old ways of working and redefine industries. At this moment, although it may seem that global business is at its quietist, beneath a veneer of calm, feverish transformations are taking place across markets, behind the closed doors of companies and their workers, all evolving to these new conditions MORE
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. MORE
In my post today I want to discuss data privacy laws, specifically involving New York State Department of Financial Services (NYDFS) 23 NYCRR 500. The New York State Department of Financial Services (NYDFS) 23 NYCRR 500 is a set of regulations that place cybersecurity requirements on all covered financial institutions. Service providers. In my previous post, I discussed what data privacy is and why it’s important? MORE
Key findings from a recent study that surveyed the state of adaptive authentication in FIs. In this webinar, OneSpan and ISMG summarize key findings from a recent study that surveyed the state of adaptive authentication MORE
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 MORE
Financial services organizations face considerable challenges today. From regulatory changes to globalization to shifting customer expectations, the urgent need to re-engineer outdated systems to better manage vast amount of data can apply additional pressure. Organizations must deal with the consistency, accuracy, timeliness and complexity of their data to remain competitive MORE
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. MORE
It is typically called personally identifiable information (PII) and can be any combination of a person’s name, address, social security number, phone number, email address, bank/financial account number, credit/debit card number, biometric records, health records, or other information. New York State Department of Financial Services (NYDFS 500) and General Data Protection Regulation (GDPR) are two important privacy laws with which many financial services institutions must comply. MORE
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. MORE
In January, I wrote a predictions blog that said the priorities of the financial services industry would not change greatly over the next 12 months! Industries Banking & Insurance financial services digital financial services MORE
Fraud prevention requires a consumer-centric, data sharing approach MORE
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 MORE
Over the last seven years, the financial services industry has increasingly adopted social media platforms. However, the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) all have rules and retention requirements about communicating with the public, including via social media. Financial Services FINRA social media social media platforms MORE
That’s according to an independent report by 451 Research, ‘Multi-Cloud Fundamental to Financial Services Transformation.’ Banking & Capital Markets Cloud Insurance financial services hybrid cloudMulti-clouds — environments made up of multiple public and private clouds typically used for different purposes — may well be the cloud of choice for banks. MORE
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. MORE
For 2020, we’re going to see financial services companies accentuate and accelerate the priorities of recent years. Financial Services and Insurance organizations will continue … The post Information Advantage for Financial Services in 2020 appeared first on OpenText Blogs. It’s that time again when we look ahead to the year to come. And we are going to witness the rise of Platformification as the way to achieve these long-standing goals. MORE
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. MORE
To compete and succeed in today’s fast-changing business climate, banks, insurance companies and other financial services institutions (FSIs) need to have three priorities to contend with new technologies, new market entrants and new ways of working that are changing expectations for the industry. Enterprise World Industry Bank banks Enterprise World 2019 financial services Insurance insurance industry MORE
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. IT security pros in financial services organizations reporting that their organization already had a data breach – but breaches are increasing at alarming rates. MORE
Data & Analytics Financial Services data governance Data Governance Program Data Governance Program in Financial Services financial services dataPreviously, I discussed the components needed to design a data governance strategy. This post will describe in detail, how to initiate the data governance program. MORE
This next coming year promises big changes for the financial services industry; especially when it comes to digital transformation. In fact, the rise of digital transformation in financial services means an interesting shake-up is on the way. Learn about the top 7 digital transformation trends in financial services here. Financial Services News Digital transformation financial services MORE
Data & Analytics Financial Services data governance Data Governance in financial services Data Governance Program in Financial Services financial services dataData is the lifeblood of any company. It is the basis of management decision-making, regulatory supervision, taxation, and investor and market behavior. MORE
Financial Service organizations are among the most highly regulated industries and routinely face a myriad of compliance and administrative proceedings. Prominent financial regulators like the UK Serious Fraud Office and the US Securities and Exchange Commission have already adopted the best eDiscovery (electronic discovery) solutions available to enhance their own reviews. MORE
Recent IDG research reveals that Financial Services organizations are working to bring their IT asset disposition (ITAD) programs in line with corporate sustainability and security goals. MORE
The scope of a records and information management (RIM) program in financial services can seem overwhelming. Compared to other industries, the complexities of managing records and information in financial services are arguably some of the toughest to solve, primarily because of the intense regulatory scrutiny. History of Financial System. financial system continues to evolve in response to changing regulations. Financial Services Industry Overview. MORE
Financial Services Related Topics OpenText Information Management
OCTOBER 5, 2020
In January, I wrote a predictions blog that said the priorities of the financial services industry would not change greatly over the next 12 months! Industries Banking & Insurance financial services digital financial services
OpenText Information Management
JANUARY 6, 2020
For 2020, we’re going to see financial services companies accentuate and accelerate the priorities of recent years. Financial Services and Insurance organizations will continue … The post Information Advantage for Financial Services in 2020 appeared first on OpenText Blogs. It’s that time again when we look ahead to the year to come. And we are going to witness the rise of Platformification as the way to achieve these long-standing goals.
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DXC
MARCH 15, 2019
That’s according to an independent report by 451 Research, ‘Multi-Cloud Fundamental to Financial Services Transformation.’ Banking & Capital Markets Cloud Insurance financial services hybrid cloudMulti-clouds — environments made up of multiple public and private clouds typically used for different purposes — may well be the cloud of choice for banks.
InfoGoTo
OCTOBER 16, 2020
Recent IDG research reveals that Financial Services organizations are working to bring their IT asset disposition (ITAD) programs in line with corporate sustainability and security goals.
Data Breach Today
DECEMBER 17, 2018
Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation. Cloud - whether public, private or a hybrid approach - is foundational to achieving DX objectives, as is secure, resilient and scalable network connectivity. Customers demand a seamless experience across all digital channels
Data Breach Today
JANUARY 23, 2019
Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation. Cloud - whether public, private or a hybrid approach - is foundational to achieving DX objectives, as is secure, resilient and scalable network connectivity. Customers demand a seamless experience across all digital channels
|
OpenText Information Management
MAY 1, 2019
To compete and succeed in today’s fast-changing business climate, banks, insurance companies and other financial services institutions (FSIs) need to have three priorities to contend with new technologies, new market entrants and new ways of working that are changing expectations for the industry. Enterprise World Industry Bank banks Enterprise World 2019 financial services Insurance insurance industry
Data Breach Today
OCTOBER 16, 2019
How can financial services institutions better protect employee passwords? One of the most common threat vectors plaguing financial services institutions is the employee password
Dark Reading
AUGUST 20, 2019
Financial institutions interacting with customers online must prepare for a broader, more sophisticated variety of threats
Perficient Data & Analytics
JULY 17, 2019
Data & Analytics Financial Services data governance Data Governance in financial services Data Governance Program in Financial Services financial services dataData is the lifeblood of any company. It is the basis of management decision-making, regulatory supervision, taxation, and investor and market behavior.
Data Breach Today
AUGUST 10, 2018
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
|
Perficient Data & Analytics
JUNE 4, 2019
In my post today I want to discuss data privacy laws, specifically involving New York State Department of Financial Services (NYDFS) 23 NYCRR 500. The New York State Department of Financial Services (NYDFS) 23 NYCRR 500 is a set of regulations that place cybersecurity requirements on all covered financial institutions. Service providers. In my previous post, I discussed what data privacy is and why it’s important?
Perficient Data & Analytics
JULY 30, 2019
Previously, I analyzed the types of data in a governance program for financial services companies. Requesting access to data should be automated through workflows to facilitate and speed the servicing of requests as to not hinder productivity. Data & Analytics Financial Services data governance Data Governance Strategy in Financial Services Data Strategy financial services data financial services data governance
OpenText Information Management
JUNE 6, 2018
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
OpenText Information Management
MARCH 12, 2019
One of the latest brands to gain “household verb” status is the ride-sharing service Uber. … The post Pulling an Uber: Customer experience in Financial Services appeared first on OpenText Blogs. Brands like Velcro and Kleenex have become so much a part of people’s lives that they are now used as universal references for all products in that category – or sometimes used as verbs, as is the case with Google.
Perficient Data & Analytics
JULY 2, 2019
My previous blog post addresses the reasons for the regulation and the requirements associated with the New York State Department of Financial Services (NYDFS) 23 NYCRR 500. Data protection must be designed into the development of business processes for products and services. Non-compliance with the regulation can result in a fine up to $20 million or up to 4% of the annual worldwide turnover of the preceding financial year.
OpenText Information Management
FEBRUARY 12, 2019
We recently wrote a blog on how AI in Financial Services can improve customer experience. It came as a bit of a surprise as … The post AI in Financial Services is growing, but there’s a way to go appeared first on OpenText Blogs. It’s funny how the world works. Then, my bank showed me that there’s still some work to be done. Let me explain. Last week, I received a letter from my bank.
OpenText Information Management
JANUARY 10, 2019
The New Year is upon us, and with it come new challenges and opportunities for the Financial Services industry. Enterprise World Industry 2019 financial services financial services industry financial services institutions Insurance trends
IBM Big Data Hub
AUGUST 9, 2018
As any financial services executive knows, improving business results with precise, timely decisions is much harder than it looks
InfoGoTo
DECEMBER 6, 2018
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.
Perficient Data & Analytics
MAY 22, 2019
It is typically called personally identifiable information (PII) and can be any combination of a person’s name, address, social security number, phone number, email address, bank/financial account number, credit/debit card number, biometric records, health records, or other information. New York State Department of Financial Services (NYDFS 500) and General Data Protection Regulation (GDPR) are two important privacy laws with which many financial services institutions must comply.
ARMA International
NOVEMBER 7, 2019
The scope of a records and information management (RIM) program in financial services can seem overwhelming. Compared to other industries, the complexities of managing records and information in financial services are arguably some of the toughest to solve, primarily because of the intense regulatory scrutiny. History of Financial System. financial system continues to evolve in response to changing regulations. Financial Services Industry Overview.
InfoGoTo
MARCH 12, 2019
Over the last seven years, the financial services industry has increasingly adopted social media platforms. However, the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) all have rules and retention requirements about communicating with the public, including via social media. Financial Services FINRA social media social media platforms
Perficient Data & Analytics
OCTOBER 17, 2019
Data & Analytics Financial Services data governance Data Governance Program Data Governance Program in Financial Services financial services dataPreviously, I discussed the components needed to design a data governance strategy. This post will describe in detail, how to initiate the data governance program.
InfoGoTo
JANUARY 25, 2019
This next coming year promises big changes for the financial services industry; especially when it comes to digital transformation. In fact, the rise of digital transformation in financial services means an interesting shake-up is on the way. Learn about the top 7 digital transformation trends in financial services here. Financial Services News Digital transformation financial services
IBM Big Data Hub
JUNE 17, 2020
As the world confronts new challenges, it is a unique, unprecedented time to recast old ways of working and redefine industries. At this moment, although it may seem that global business is at its quietist, beneath a veneer of calm, feverish transformations are taking place across markets, behind the closed doors of companies and their workers, all evolving to these new conditions
InfoGoTo
OCTOBER 25, 2018
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.
Perficient Data & Analytics
NOVEMBER 6, 2018
Customers place a lot of value on innovation when selecting financial services products. An organization can: Manage the status-quo by incrementally improving the existing offering to the existing customer base; Evolve the current offering by adding new products and services but sticking to its captive market; Adapt the existing offering to target prospective customers in new market segments or territories; and.
Dark Reading
JULY 8, 2020
Fraud prevention requires a consumer-centric, data sharing approach
Perficient Data & Analytics
JULY 16, 2019
The first step any financial institution must take in its response to the laws is to evaluate its exposure and current capabilities in protecting sensitive business and customer data. Implement: Technical services are required to create/ update cybersecurity policies and procedures. For more information on NYDFS 500 and GDPR laws and regulations on the financial services industry, please download our guide here , or click below.
Threatpost
JUNE 21, 2018
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.
InfoGoTo
NOVEMBER 8, 2018
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.
InfoGoTo
MARCH 7, 2019
A survey by Vuealta found that fiancial services leaders are far more concerned about compliance and cybersecurity than the financial services startups they are in competition with. Financial Services News financial services fintech fintech startupsThis may be a mistake. Read more here.
IBM Big Data Hub
JUNE 17, 2019
Financial services organizations face considerable challenges today. From regulatory changes to globalization to shifting customer expectations, the urgent need to re-engineer outdated systems to better manage vast amount of data can apply additional pressure. Organizations must deal with the consistency, accuracy, timeliness and complexity of their data to remain competitive
Perficient Data & Analytics
OCTOBER 23, 2018
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.
InfoGoTo
OCTOBER 11, 2018
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.
OpenText Information Management
AUGUST 28, 2018
Financial Service organizations are among the most highly regulated industries and routinely face a myriad of compliance and administrative proceedings. Prominent financial regulators like the UK Serious Fraud Office and the US Securities and Exchange Commission have already adopted the best eDiscovery (electronic discovery) solutions available to enhance their own reviews.
Perficient Data & Analytics
MAY 7, 2018
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. Gartner Names Salesforce a Leader in Magic Quadrant for Enterprise High-Productivity Application Platform as a Service. What You Need to Know About Financial Services Cloud: A Case Study. Must-Know Salesforce Updates.
OpenText Information Management
FEBRUARY 13, 2018
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. Digital Transformation financial services identity management
Thales eSecurity
DECEMBER 5, 2018
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. IT security pros in financial services organizations reporting that their organization already had a data breach – but breaches are increasing at alarming rates.
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