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.

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.

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[Guide] Designing a Data Governance Program in Financial Services

Perficient Data & Analytics

logs from transaction systems, routers, servers, firewalls) to bolster security and generate real-time alerts for issues potentially affecting enterprise operations or system and network performance. database software, servers, routers, firewalls, security appliances).

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. Data Security & Privacy. Requesting access to data should be automated through workflows to facilitate and speed the servicing of requests as to not hinder productivity.

Initiating a Data Governance Program in Financial Services

Perficient Data & Analytics

To learn more about the components of a data governance program and the steps to take to remediate any weaknesses that can compromise the quality and security of a firm’s data; download our guide here or click the link below.

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.

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.

[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.

New York Department of Financial Services Released New Guidance Addressing COVID-19 Related Cybersecurity Risks

HL Chronicle of Data Protection

Continuing its focus on COVID-19’s impact on its regulated entities, on April 13, the New York Department of Financial Services (NYDFS) released new cybersecurity guidance in response to the COVID-19 pandemic.

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

New: 2019 State of the Internet / Security: Financial Services Attack Economy

Dark Reading

Every organization should be paying attention to the attacks targeting financial services systems

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. Data security

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.

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.

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.

NY Department of Financial Services Issues Guidance to Regulated Entities Regarding Cybersecurity During the COVID-19 Pandemic

Hunton Privacy

On April 13, 2020, the New York Department of Financial Services (“NYDFS”) issued guidance (“April guidance”) to all New York State entities covered under NYDFS’s cybersecurity regulation regarding assessing and addressing heightened cybersecurity risks due to the COVID-19 pandemic.

An introduction to 360 degree threat detection

OpenText Information Management

According to Accenture, the cost of cybercrime to US Financial Services companies rose 40% between 2014 and 2017, on average costing companies over $18 million per year.

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.

Akamai Talks Massive Uptick in Credential-Stuffing Attacks Against Bank APIs

Threatpost

Researchers with Akamai say that 75 percent of all credential abuse attacks against the financial services industry were targeting APIs. Hacks Videos Web Security API api attack bank cyber attack credential abuse Credential stuffing DDoS attack financial services sql injection

NY Investigates Exposure of 885 Million Mortgage Documents

Krebs on Security

New York regulators are investigating a weakness that exposed 885 million mortgage records at First American Financial Corp. First American says it has hired a third-party security firm to investigate, and that it shut down external access to the records.

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.”.

NYDFS 500: Why the Regulation?

Perficient Data & Analytics

Previously, I discussed data privacy laws, specifically involving New York State Department of Financial Services (NYDFS) 23 NYCRR 500. For more information on NYDFS 500 and GDPR laws and regulations on the financial services industry, please download our guide here , or click below.

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.

Striking a balance between security and usability of sensitive data

OpenText Information Management

Last year, the number of personal records exposed by cyber attacks on the financial services industry was an incredible 446,575,334 – more than triple from the year before. The financial and reputational damage from these data breaches can be immense.

Financial Industry Trends Focused on Information Management Challenges in 2019

InfoGoTo

Financial services firms saw mounting information management challenges in 2019. As the volume and variety of data grows, so do threats from hackers, posing security concerns for organizations and customers alike. Financial Services data information management

Leveraging Blockchain Integration to Meet Information Governance Challenges

InfoGoTo

Blockchain integration is one of the hottest technology topics in the business world today, with financial services and healthcare sectors leading the way in exploring how to integrate blockchain into their organizations. A Financial Services Roadblock.

What You Need to Know About Storing Financial Data in the Cloud

InfoGoTo

In light of recent malware attacks that affected financial services customers’ data stored in the cloud, organizations should take a hard look at how they’re securing their financial information. Work with a Seasoned Cloud Security Expert.

COVID-19 Interest Rates Present Mortgage Industry Challenges

InfoGoTo

Even in familiar working conditions, documents get misplaced or aren’t always kept secure. There is no physical sharing of documents, and extra precautions must be taken to ensure any electronic document sharing is done securely, amongst a host of other challenges.

ThreatList: Bad Bots Account for a Fifth of All Web Traffic, FinServ Hit the Worst

Threatpost

The financial services industry sees nearly half of all website traffic coming from malicious bots. Most Recent ThreatLists Web Security advanced persistent bots bad bot report 2019 distil networks financial services percentage of web traffic threatlist

Emergence of Blockchain in Finance Requires Secure, Streamlined Data Management

InfoGoTo

Blockchain in finance is advancing as financial services providers and regulators look into the different ways cryptocurrencies will impact payments, value exchange and other elements of the financial landscape.

Data Science Virtual Expert Panel Presented by AWS

Perficient Data & Analytics

Join us and our partner Amazon Web Services (AWS) for a virtual Q&A session on Wednesday, April 15. Perficient and the panel will be ready to answer questions about machine learning, services such as Amazon Personalize and Amazon Forecast , and more.

New York State Expected to Increase Enforcement of Cybersecurity Practices

HL Chronicle of Data Protection

It applies to any “Covered Entity,” which is defined broadly to include “any Person operating under or required to operate under a license, registration, charter, certificate, permit, accreditation or similar authorization under the Banking Law, the Insurance Law or the Financial Services Law.”

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

A robust and effective data governance initiative ensures an organization understands where security should be focussed.

Agile BI & Analytics is the Need of the Hour – Drive insights during Pandemic Uncertainty

Perficient Data & Analytics

Extend existing implementations or Stand up new service ( if needed ). Secure Framework for PII or Highly confidential data.

Obama Proposes New Financial Services Consumer Protection Agency

Hunton Privacy

The Obama Administration today formally announced its sweeping proposal for new regulation of the financial industry. The proposal raises a number of privacy and data security questions, such as the role of the new financial services consumer protection agency in protecting privacy and data security and the continued role of the Federal Trade Commission as the lead agency in this area.

Phishing Campaigns Target Senior Executives via Office 365

Data Breach Today

Top Victims Include Financial Services and Law Firms, Group-IB Warns A sophisticated, highly targeted phishing campaign has hit high-level executives at more than 150 businesses, stealing confidential documents and contact lists, says security firm Group-IB.

Sizing Up the Roles of Behavioral Analytics, 'Zero Trust'

Data Breach Today

Security Experts Discuss Authentication Challenges in the Financial Services Sector Improvements in behavioral biometrics and analytics are changing the way many financial services firms approach authentication.

eNotes vs eClose – The Full Digital Experience

InfoGoTo

There are other documents worth discussing that impact a full eClose capability, such as title policies and security instruments, also known as trailing documents or final documents. County Recorders: A security instrument requires recordation at the county.

How AI-Driven Information Extraction Can Transform 3 Huge Industries

InfoGoTo

Software can also scour unstructured sources such as text documents and emails to identify information like addresses or Social Security numbers without requiring that data to be labeled explicitly.