Data Protection in Financial Services Week 2022

Data Matters

EST. Sidley and OneTrust DataGuidance are pleased to announce that registration is now open for their annual Data Protection in Financial Services (DPFS) Week. have impacted financial services. Ari Redbord, Head of Legal and Government Affairs, TRM Labs. WEBINAR.

Financial services continue to lead in cybersecurity preparedness, but chinks appear in the armor

Thales Cloud Protection & Licensing

Financial services continue to lead in cybersecurity preparedness, but chinks appear in the armor. It highlights the leadership of financial services in cybersecurity relative to other industries, but it also uncovers some surprising chinks in their cybersecurity armor.

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The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why

Rocket Software

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries.

Three data-driven trends to watch in financial services in 2022

Collibra

The financial services industry has had a longstanding tradition of being at the forefront of adopting new technologies. Comprehensive built-in governance, coupled with machine learning (ML)-enabled data quality and protection capabilities.

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 importance of data quality in Financial Services

Collibra

Financial services are highly regulated and maintain a strong focus on compliance and risk management. Considering that major financial organizations handle enormous amounts of data today, they require data accuracy and integrity at all times to minimize risks.

Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs

Hunton Privacy

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”).

Embracing new ways of working in financial services

CGI

Embracing new ways of working in financial services. Although the approaches to dealing with the COVID-19 pandemic vary by country, as governments and businesses come to grips with it, one thing is imperative: we will get through this.

New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. Lacewell stated that cybersecurity is the biggest risk for government and private organizations and described how the Framework is based on “extensive dialogue with industry and experts.”. The post New York Department of Financial Services Issues First Guidance by a U.S.

TechLaw Australia podcast: The shifting landscape of privacy and data governance in the Asia Pacific region

DLA Piper Privacy Matters

Digital transformation General Data Protection Regulation Financial services TechnologyAuthor: Sinead Lynch. At DLA Piper we advise clients that develop or create technology, are enabled by technology, or whose business model is fundamentally based on technology.

First American Financial Pays Farcical $500K Fine

Krebs on Security

In May 2019, KrebsOnSecurity broke the news that the website of mortgage settlement giant First American Financial Corp. NYSE:FAF ] was leaking more than 800 million documents — many containing sensitive financial data — related to real estate transactions dating back 16 years.

Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

AI Governance: Break open the black box

IBM Big Data Hub

Customers, employees and shareholders expect organizations to use AI responsibly, and government entities are demanding it. The solution: AI Governance. The three foundational capabilities of the IBM AI Governance solution. Register for AI Governance webinar.

Scary Fraud Ensues When ID Theft & Usury Collide

Krebs on Security

Among the companies that checked to see if Jim still wanted that loan he never applied for last May was Mountain Summit Financial (MSF), a lending institution owned by a Native American tribe in California called the Habematelol Pomo of Upper Lake.

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. DFS’s goal is to prevent cybersecurity attacks, and we therefore will now include cybersecurity in all DFS examinations to ensure that proper cybersecurity governance is being practiced by our regulated entities.

Top 7 Data Governance Blog Posts of 2018

erwin

The driving factors behind data governance adoption vary. Whether implemented as preventative measures (risk management and regulation) or proactive endeavors (value creation and ROI), the benefits of a data governance initiative is becoming more apparent. Historically most organizations have approached data governance in isolation and from the former category. Defining Data Governance. www.erwin.com/blog/defining-data-governance/. to Data Governance 2.0

Automated governance and trustworthy AI

IBM Big Data Hub

Governments and regulatory bodies around the world are working to establish safety standards. The proposed rules aim to govern automated valuation models to protect borrowers. Organizations must plan to govern and establish trustworthiness metrics for their use of AI.

Discover a unified approach to adaptive data and analytics governance

Collibra

We haven’t even mentioned compliance challenges, which are especially significant in highly regulated industries like healthcare and financial services. > > See how adaptive data and analytics governance can help. Why adaptive data and analytics governance.

From principles to actions: building a holistic approach to AI governance

IBM Big Data Hub

Whether it be financial services, employee hiring, customer service management or healthcare administration, AI is increasingly powering critical workflows across all industries. AI governance: From principles to actions.

Four Use Cases Proving the Benefits of Metadata-Driven Automation

erwin

As such, traditional – and mostly manual – processes associated with data management and data governance have broken down. The banking, financial services and insurance industry typically deals with higher data velocity and tighter regulations than most. The erwin Automation Framework is a key component of the erwin EDGE platform for comprehensive data management and data governance.

401(k) Cyber Fraud Is Growing. Everyone Could Be Liable

The Security Ledger

Business Consumer cybercrime FBI Finance fraud Government Threats 401k financial servicesHacking attacks on 401(k) plans and retirement savings accounts are growing and court rulings could have a far-reaching impact on who is liable. The post 401(k) Cyber Fraud Is Growing.

Data Governance Tools: What Are They? Are They Optional?

erwin

Data governance tools used to occupy a niche in an organization’s tech stack, but those days are gone. The rise of data-driven business and the complexities that come with it ushered in a soft mandate for data governance and data governance tools. Data governance refers to the strategic and ongoing efforts by an organization to ensure that data is discoverable and its quality is good. Research indicates business leaders recognize the need for data governance tools.

ARMA and AIEF Issue Special Edition Publication: Blockchain, AI, Accounting Records, and other IG topics covered

IG Guru

AIEF Archives ARMA Audit Blockchain Business Compliance IG News Information Governance information privacy information security Privacy Record Retention Records Management Risk News Sponsored Accounting Records AI Documentation Financial Services Retention

Keeping Up with New Data Protection Regulations

erwin

Some industries, such as healthcare and financial services, have been subject to stringent data regulations for years: GDPR now joins the Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry Data Security Standard (PCI DSS) and the Basel Committee on Banking Supervision (BCBS). Fortunately, whenever the time comes, the first point of call will always be data governance, so organizations can prepare.

Why Facebook's Diem is 'a Shadow of Libra'

Data Breach Today

Financial services commentator Chris Skinner explains why state governments and AML concerns are to blame Facebook's relaunch and rebrand of its Libra digital payment initiative as Diem is seen by some as a shadow of its former self.

Speed innovation and FRTB compliance in asset management with Data Intelligence Cloud

Collibra

The availability and use of trustworthy data is critical for asset managers – whether it’s for financial planning, portfolio management, advisory services, research, investments, regulatory compliance, or financial reporting. Financial Service Industry

Accelerate IFRS-17 Compliance with Data Intelligence Cloud

Collibra

The long awaited International Financial Reporting Standard (IFRS-17) is finally upon us – coming into effect on January 1, 2023. It will encompass risk management, actuarial valuation, asset liability management and financial reporting practices. Data Intelligence Financial Services

Business Process Modeling Use Cases and Definition

erwin

This also extends to industry-specific other compliance mandates such as those in healthcare, pharmaceutical and the financial services industries. The Regulatory Rationale for Integrating Data Management & Data Governance. What is business process modeling (BPM)? A visual representation of what your business does and how it does it. Why is having this picture important?

Grove Pension Solutions fined £40,000 for PECR violation

IT Governance

The ICO’s d irector of i nvestigations and i ntelligence , Andy White , said : “Spam email uses people ’ s personal data unlawfully, filling up their inboxes and promoting products and services which they don’t necessarily want. . “We That is to say, it used email addresses provided by people who, in the process of consenting to another organisation’s service, agreed to be contacted by third parties. . EU GDPR Financial Services Data management PECR

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6 best practices for a data governance strategy

Collibra

Data governance is a very intricate field, so implementing and sustaining data governance comes with a suite of challenges. Luckily, thousands, if not millions, of organizations use data governance to improve their operations, so you can learn from others’ mistakes and successes.

Top 6 Best Practices for Data Governance

Collibra

Data governance is a very intricate field, so implementing and sustaining data governance comes with a suite of challenges. Luckily, thousands, if not millions, of organizations use data governance to improve their operations, so you can learn from others’ mistakes and successes.

Improve your data relationships with third parties

Collibra

Regulators are focusing on the data relationships financial services organizations have with third parties, including how well personal information is being managed. Others are realizing that they need to outsource critical services to specialist service providers. .

[Podcast] Exploring the New Norm of IIM in State and Local Government

AIIM

More and more records managers in state and local government operations tell me that their job is changing. Marni suggests that engaging managed service partners is an important benefit for organizations looking to reframe their business strategies in today’s challenging marketplace.

CCAR MRAs: 6 abilities you need

Collibra

For banks to ensure preparation for CCAR MRA and sustainable regulatory compliance, they need to shift their thinking to focus on data governance, which requires a different set of capabilities. CCAR MRAs and governance capabilities . When preparing for CCAR MRAs, it is essential to have a comprehensive set of data governance capabilities that all work together. 6 must haves for your governance platform. Data Governance CCAR CCAR MRAs Financial Services

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.

Data Governance Tools: What Are They? Are They Optional?

erwin

Data governance tools used to occupy a niche in an organization’s tech stack, but those days are gone. The rise of data-driven business and the complexities that come with it ushered in a soft mandate for data governance and data governance tools. Data governance refers to the strategic and ongoing efforts by an organization to ensure that data is discoverable and its quality is good. Research indicates business leaders recognize the need for data governance tools.

Reltio Cloud – Your Key to a Successful SAP S/4HANA Migration

Reltio

Reltio Cloud also acts as the governance platform to address the data quality problems before S/4HANA ingestion. Business IT B Business B Customer 360 B Digital Transformation B Financial Services & Insurance B Graph B Healthcare B High-Tech & Manufacturing B IT B Life Sciences B Machine Learning B media & entertainment B Product 360 B Retail & CPG B Supplier 360 B Travel & hospitalityGuy Vorster, Principal Solutions Consultant, Reltio.

Is Your Customer Experience Future-Ready?

Reltio

It is an ongoing activity, constantly responding to the changes in market and customer expectations, new products and services, and technology evolution. Can you discover, validate, and scale innovative use of existing and new data-sets to deploy products and services faster? Ankur Gupta, Sr. Product Marketing Manager, Reltio. Are your customers demanding and want only the best? I guess the question is redundant.

#ModernDataMasters: Mike Evans, Chief Technology Officer

Reltio

It will be possible to put more emphasis on the people, process and data governance which really make MDM live and breathe.”. We teach that problem solving is at the core of MDM, and how important data governance principles are regardless of the configuration of the underpinning technology.”. This ensures that we offer relevant and value-added services to the businesses we work with. Prioritise people, process and governance. Kate Tickner, Reltio.

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

Reltio

But today modern data management solutions that include technologies like machine learning empower organizations to implement data governance and privacy initiatives at scale, and are an essential part of their overall Customer 360 data strategy. 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. Manish Sood, CEO & Founder, Reltio.