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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. The program must evolve with the industry as new challenges and opportunities emerge, and it requires constant attention and program adjustments.

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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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US banks Q3 results shine light on financial services innovation

Info Source

To respond, incumbent banks are investing in next-generation technologies, with the global banking industry spending $519 billion on IT this year, up 4.1 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. Contributed News RPA AI Mobile financial services

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Oracle Tackles a Massive 405 Bugs for Its April Quarterly Patch Update

Threatpost

Oracle will detail 405 new security vulnerabilities Tuesday, part of its quarterly Critical Patch Update Advisory.

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Why trusted advise is vital in uncertain times

OpenText Information Management

But I’m going to do it anyway as what we’re experiencing right now is unprecedented, and will have implications long after this outbreak is contained. Customer Experience Banking & Insurance financial services digital financial services digital banking retail banking coronavirus

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Oracle Kills 402 Bugs in Massive October Patch Update

Threatpost

Over half of Oracle's flaws in its quarterly patch update can be remotely exploitable without authentication; two have CVSS scores of 10 out of 10.

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Providing a superior experience for commercial banking customers

OpenText Information Management

The banking industry—which includes retail banks and credit unions, wealth and asset management firms, and corporate and treasury divisions—faces severe challenges.

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

Reltio

And why can’t they resolve it themselves?” ” “It’s the sheer mental fatigue and they can’t think anymore. Let’s sit somewhere and talk about it for a bit, maybe I can offer some advice.” ” “But to do that, you need to think a little differently, and improve the efficiency where it matters, especially when it comes to your master data.” It’s at the heart of this whole thing as I said earlier.”

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7 Reasons Why Businesses Should Adopt A Modern MDM Platform

Reltio

Reduced IT & Operational Cost. It helped the client improve their territory alignment, multi-channel campaign execution, and field incentive compensation planning. Reltio has helped increase their data load performance by 577X and is expected to save them more than $12M over 5 years through improved IT and data management operations. A top used car retailer consolidated data from 155+ store systems in less than 15 weeks to drive omnichannel customer experience.

MDM 60
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It’s time to think twice about retail loyalty programs

Thales Cloud Protection & Licensing

As I was starting to write this blog, yet another retail program data breach occurred, for Marriott’s Starwood loyalty program. In this case, it looks as though the attackers had been on the Starwood network for somewhere around three years, mining out their reservations database (keep in mind that Marriott only acquired Starwood in 2016 ). But it looks like my own personal data has been breached – again. But none of these reasons rose to the top in retail.

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Reltio Cloud – A Data Platform Perfect For Google Anthos

Reltio

Increasingly complex requirements of businesses may need a multi-cloud solution that makes it simpler to aggregate, organize, analyze, and share data across the enterprise. We are very excited with the announcement of the service that is called Anthos (formerly known as Google Cloud Services Platform). Anthos is based on Kubernetes as well as other open-source projects like Istio service mesh. Anastasia Zamyshlyaeva , Reltio.

MDM 75
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#ModernDataMasters: Mike Evans, Chief Technology Officer

Reltio

It became apparent very quickly that a lack of focus on data was the root cause. If there’s one lesson I’ve learnt, it’s that you can’t cut corners in MDM. It is as much to do with changing the culture of a company and embracing the value of data, as it is about technology or process.”. How would you define “modern” data management and what does it /should it mean for organisations that adopt it? It is what drives them. Kate Tickner, Reltio.

MDM 75
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Keeping Up with New Data Protection Regulations

erwin

Facebook was in the news again last week for another major problem around the transparency of its user data, and the tech-giant also is reportedly facing 10 GDPR investigations in Ireland – along with Apple, LinkedIn and Twitter. For example, many retailers have robust, data-driven e-commerce operations that are international. Smaller, more brick-and-mortar-focussed retailers may have had to start from scratch.

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Why Reltio is All-in on Salesforce Customer 360, and the Adobe, Microsoft, SAP Open Data Initiative

Reltio

The single customer 360 ID will enable companies to access customer information through Salesforce’s various applications including Sales Cloud, Service Cloud, Marketing Cloud, and Commerce Cloud. Reltio will help both initiatives by continuously unifying and organizing all data within their respective models while making it universally accessible for collaboration and consumption across the enterprise. Manish Sood, CEO & Founder, Reltio.

MDM 69
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Is Your Customer Experience Future-Ready?

Reltio

Besides the usual suspects of value for money and best deals, it’s the unique experience that drives today’s customers. ” In a customer-obsessed business culture of the likes of Amazon, customer experience is the game changer and no one can afford to ignore it. If you have not considered these questions before, it’s time to ask them. It involves every employee from every facet of the business. If not, it’s time to switch.

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

Reltio

Whether it’s correlating omni-channel transactions to customer master records and understanding, to determining how each customer is related to other members of a particular household, to whether those disparate household members have consented to their data being used and for what purpose. Maintaining data lineage to data sources and tracking to downstream applications so we know from where a customer profile attribute originated and which applications are using it is critical.

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#ModernDataMasters: Martin Squires, The Analysis Foundry

Reltio

In terms of data and analytics it all started when I sneezed and slipped a disc shaving would you believe?”. It was the early 90s and I was working on the analytics and forecasting side of things at the N&P. Four weeks later I asked if I could stay with that project because it was a lot more interesting to me than economics! It is difficult for people to keep track of what they are trying to deliver because of all the different technologies they have to choose from.

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#ModernDataMasters: Sarit Bose, Cognizant

Reltio

What was your route into IT and data management? We all know the “garbage in, garbage out” saying but unless you are working in data management then it is probably hard to gauge just how important it is to get the data right and the impact it can have on the results of your analytics.”. I learned this very early on and it is even more important in today’s world of big data. It is a combination. Is it solving a problem? Is it a lower cost?

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These 3 GDPR Requirements You Must Support Today are Nothing Compared With What’s Coming

Reltio

Personal data includes a wide range of personal identifiers, from addresses and public information, to social profiles, images, IP information, device IDs and medical and financial details. Legacy MDM systems may comply with a small part of the regulation by managing profile data, but they also leave it to you to figure out how to manage the transaction and interaction information distributed across systems and channels. Ramon Chen, Chief Product Officer, Reltio.

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Ransomware at IT Services Provider Synoptek

Krebs on Security

Synoptek , a California business that provides cloud hosting and IT management services to more than a thousand customer nationwide, suffered a ransomware attack this week that has disrupted operations for many of its clients, according to sources.

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Fujitsu Computer Products of America, Inc. introduces the highly versatile fi-800R, an ultra-compact document scanner designed for today’s scanning challenges all while maximizing workspace

Info Source

“As the smallest image scanner in its class* 1 , the fi-800R is great for limited workspaces like reception desks and service counters,” said Yasunari Shimizu, President and CEO of FCPA. “To These powerful features reduce operator workload, enabling users to provide better customer service.”. The fi-800R is the smallest scanner in its class and is designed to fit in any limited space. Press Releases financial services healthcare Retail scanners

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#ModernDataMasters: Michele Chambers, AWS

Reltio

Michele Chambers is a Leader of Product Management and Software Development at Amazon Web Services in Seattle. That company became part of Netezza, whereI saw the power of taking that type of analytics and putting it into large organisations at scale. I wake every morning excited about the problems or challenges I am going to solve that day – it’s always been a pattern for me. People don’t really understand it yet in terms of its application to business.

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Rate reform is coming. Are financial services firms ready?

DXC Technology

The London Interbank Offered Rate (LIBOR) serves as the benchmark reference rate for a wide range of wholesale and retail financial products, and for decades it has served as one of the most important benchmarks in the financial industry. But a series of scandals regarding IBOR manipulations has prompted financial regulatory authorities to replace LIBOR […].

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#ModernDataMasters: Henrik Liliendahl, Chairman & CTO, Product Data Lake

Reltio

Henrik Liliendahl is an MDM and PIM expert; speaker and blogger ( www.liliendahl.com and [link] ) and the Co-Founder, Chairman and CTO of Product Data Lake a product information exchange service. I got good grades in mathematics at school but it was an evening class in secondary school that I took in what was then called EDP (Electronic Data Processing) that got me started. Since then I’ve bounced back and forth between IT and business. Kate Tickner, Reltio.

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The Third Modern Data Management Summit: Making Data Work!

Reltio

The third Modern Data Management annual summit ( #DataDriven19 ) held on February 26-27 2019 attracted more than 400 business and IT professionals getting together in San Francisco to witness the future of data management, share success stories and learn best practices. Speakers represented life sciences, healthcare, manufacturing, retail, consumer goods, financial services, consulting services, and hi-tech. Ankur Gupta, Sr. Product Marketing Manager, Reltio.

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Epson Provides Support for Financial Institutions with Reliable Document Scanners to Streamline Workflow

Info Source

June 18, 2020 – In the current climate, financial institutions must quickly adapt to distance banking practices to ensure employee and customer health and safety. Press Releases financial services scanners

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Epson Provides Support for Financial Institutions with Reliable Document Scanners to Streamline Workflow

Info Source

June 18, 2020 – In the current climate, financial institutions must quickly adapt to distance banking practices to ensure employee and customer health and safety. Press Releases financial services scanners

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#ModernDataMasters: Lewis Ownes, CEO Agile Solutions

Reltio

My starting point was actually in print – believe it or not I was one of the last print finishing apprentices in the UK. But it did give me the advantage of seeing how the data was being fed into the machines for personalisation and the use of algorithms for security even back then. “At It helps that the market has also come towards us and data is at the heart of everything now. The current language of IT and development is really underpinned by cloud offerings.

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What Makes a Data Genius?

Reltio

Today we constantly consume and generate data, but often miss the real value it can create. But some professionals have that much-desired talent of understanding data and what it can do for their organizations. The Reltio Data Genius award honors the smartest and most innovative IT and business professionals who have blazed the trail in their innovative use of data for the benefit of their companies. Is it knowing the right tools and techniques? Ankur Gupta, Sr.

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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

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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.

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Digital Enterprises: Built on Modern MDM

Reltio

Understanding data to make it work is perhaps the biggest challenge enterprises face today. The picture gets clearer when you hear the top brains in MDM (Master Data Management) sharing their take on it. . Manish Sood , CEO, Reltio nails it when he labels data as the new sunshine. It’s ubiquitous, powerful, adaptable, and trusted. Ankur Gupta, Sr. Product Marketing Manager, Reltio.

MDM 40
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#ModernDataMasters: Bob More, SVP Global Field Operations

Reltio

Much of background is what we now call customer experience and its predecessors of CRM and eCommerce applications in Retail and CPG as well as PLM, ERP and supply chain. Despite the hype the key to success in these areas has always required reliable data to make the systems work properly – and that was a challenge for all of them too – so we as sales and customer success (before they had a name for it) people lived and breathed all the data problems.

MDM 40
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#ModernDataMasters: Steve Whiting, Chief Operations Officer

Reltio

I eventually came to join Agile in its former guise moving from Consulting into Sales where I met my future business partner and Agile’s current CEO, Owen Lewis. It’s all about stakeholder management and engagement; delivering on your promises and strengthening the foundations between IT and the business – that’s where we come in. How would you define “modern” data management and what does it /should it mean for organisations that adopt it?

MDM 40
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#ModernDataMasters: David Balzan, Business Unit Manager MDM

Reltio

As a kid I was a bit of a geek and I was always into IT. It was the late ‘90s with all the year 2K stuff going on when I was deciding what to study at university. A lot of companies were going through a transformation, recognising IT as critical to operational business processes. I thought it could be a great area to build a career in and the University of Kent was one of the first to offer Java courses. But I think it is also important to think big.

MDM 40
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#ModernDataMasters: Tony Saldanha, President, Transformant

Reltio

Tony Saldanha is the President of Transformant and a globally recognized information technology and shared services executive. What was your route into IT and data management? I have been in the world of IT for about 33 years now although I was anything but IT minded as I was growing up. However, as soon as I entered the workforce it became apparent that the future was IT, technology and data management and that’s when I saw the light!

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#ModernDataMasters: Scott Taylor, “The Data Whisperer”

Reltio

I am not a practitioner in the MDM technology space – I am someone who can convey its value to the business. “I’m It’s the people who have no idea what master data is and no time to learn it – but who have all the money – who really need to understand the value of it and what it can do for the enterprise.” . How would you define “modern” data management and what does it /should it mean for organisations that adopt it?

MDM 40
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4 Industries That Have to Fight the Hardest Against Cyberattacks

Security Affairs

Recent demonstrations from cybersecurity researchers have shown how it’s possible to hack into medical devices like pacemakers or insulin pumps. There are also instances of hospitals being unable to perform fundamental services. It doesn’t hurt that those organizations keep medical records containing valuable information hackers could sell on the black market. A section on its website details the online and offline measures taken to keep customer data safe.

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California IT service provider Synoptek pays ransom after Sodinokibi attack

Security Affairs

Synoptek, A California-based IT service provider decided to pay the ransom to decrypt its files after being infected with the Sodinokibi ransomware. ” T he IT service provider confirmed the attack but did not comment on whether it paid the ransom asked by the crooks. “On

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TA505 Group adds new ServHelper Backdoor and FlawedGrace RAT to its arsenal

Security Affairs

The ServHelper is a backdoor, experts analyzed two variants of it, while FlawedGrace is a remote access trojan (RAT). ” The TA505 group was first spotted by Proofpoint back 2017, it has been active at least since 2015 and targets organizations in financial and retail industries. The ServHelper backdoor is written in Delphi and according to the experts, the development team continues to update it by implementing with new features.

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