Industry Guide to Financial Services: What’s driving digital transformation across financial services institutions?

OpenText Information Management

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.

Financial services are embracing multi-cloud

DXC Technology

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.

Key Drivers to Enable Digital Transformation in Financial Services

Data Breach Today

Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation.

The Future of Adaptive Authentication in Financial Services

Data Breach Today

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

Key Drivers to Enable Digital Transformation in Financial Services

Data Breach Today

Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation.

[Guide] Data Privacy Laws in Financial Services: NYDFS 500 & GDPR

Perficient Data & Analytics

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.

AI in Financial Services is growing, but there’s a way to go

OpenText Information Management

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.

Social Media and the Financial Services Industry

InfoGoTo

Over the last seven years, the financial services industry has increasingly adopted social media platforms. Public social platforms are especially difficult for the financial services industry to monitor and control because employees can access and use these platforms as individuals.

A time of reflection: Five tips for Financial Services in 2019

OpenText Information Management

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

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

Here Are the Top Digital Transformation Trends in Financial Services

InfoGoTo

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

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.

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

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

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.

Survey Finds Financial Services Fail to See Tech as a Disruptor

InfoGoTo

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.

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

Thales eSecurity

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.

Five benefits of eDiscovery software for Financial Services

OpenText Information Management

Financial Service organizations are among the most highly regulated industries and routinely face a myriad of compliance and administrative proceedings. Discovery best eDiscovery software ediscovery financial services machine learning Predictive Coding TAR

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.

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.

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

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.

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.

How Financial Services Companies Are Using Intelligent Information Management to Drive Digital Transformation

InfoGoTo

Financial services organizations are facing a range of challenges and, in order to overcome these challenges, the financial sector must adopt business strategies and technologies that enable greater agility, speed, access and organization. News financial services

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.

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.

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.

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

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.

Achieving digital transformation in the insurance industry

OpenText Information Management

While executives see transformation as essential, achieving success is proving to be much more difficult, with a global report recently published by Cap Gemini suggests that insurance companies are lagging behind other Financial Services organizations.

'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

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

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

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. The post New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting appeared first on Data Matters Privacy Blog.

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.”.