Three use cases for cloud fax in financial services

OpenText Information Management

It stands to reason, then, that fax would be the bedrock of financial communications, but are there ways to make it even better? The paper problem Financial services workflows have always been heavily paper-based.

API integration in Financial Services

OpenText Information Management

As customer and partner expectations shift towards seamless digital flows, financial services organizations are stepping up and taking a keen look at the business value that APIs can create for them and their customers.

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Key financial services trends as the world emerges from COVID-19

OpenText Information Management

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

Information Advantage for Financial Services in 2020

OpenText Information Management

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.

Financial services are embracing multi-cloud

DXC

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.

Why Compliance Is No Longer King for Financial Services Cybersecurity

Dark Reading

Financial services companies' experience in risk management serves them well when it comes to minimizing their cyber-risk

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. 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

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. Enterprise World Industry Bank banks Enterprise World 2019 financial services Insurance insurance industry

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

3 Key Risks with Employee Passwords in the Financial Services Industry

Data Breach Today

How can financial services institutions better protect employee passwords? One of the most common threat vectors plaguing financial services institutions is the employee password

[Podcast] Low Code Drives Rapid Change for Financial Services

AIIM

It’s no secret that the continuing coronavirus pandemic has disrupted businesses everywhere, and the financial services industry is no exception. Indeed, the financial services industry is at a tipping point—either disrupt or get disrupted.

Cyberthreats Against Financial Services Up 56%

Dark Reading

Financial institutions interacting with customers online must prepare for a broader, more sophisticated variety of threats

[Guide] Designing a Data Governance Program in Financial Services

Perficient Data & Analytics

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.

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

Data Privacy Laws in Financial Services: NYDFS 500

Perficient Data & Analytics

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?

Components of a Data Governance Strategy in Financial Services

Perficient Data & Analytics

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

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

Pulling an Uber: Customer experience in Financial Services

OpenText Information Management

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.

GDPR: Data Privacy Laws in Financial Services

Perficient Data & Analytics

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.

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. 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.

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

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

[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.

Initiating a Data Governance Program in Financial Services

Perficient Data & Analytics

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.

Summary – “Industry in One: Financial Services”

ARMA International

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.

The Innovation Dilemma in Financial Services

Perficient Data & Analytics

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.

Accelerate your journey to AI in the financial services sector

IBM Big Data Hub

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

NYDFS 500 and GDPR in Financial Services – Actions to Take Now

Perficient Data & Analytics

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.

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.

The Pulse of ITAD: New Financial Services Webinar

InfoGoTo

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.

Fresh Options for Fighting Fraud in Financial Services

Dark Reading

Fraud prevention requires a consumer-centric, data sharing approach

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.

Financial services industry blueprints for scalable enterprise data initiatives

IBM Big Data Hub

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

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.

Social Media and the Financial Services Industry

InfoGoTo

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

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

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. 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.

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. 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.

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. Digital Transformation financial services identity management

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.