The fast-evolving, sophisticated, and increasingly global threat of financial crime is one of banking's biggest challenges. To be truly future-proof, institutions must move faster than the criminals who seek to attack them - which makes one thing clear: The most successful and profitable banks of tomorrow will be...
Disruption continues to reshape the financial services industry. Time-proven products and services have been rendered obsolete in the blink of an eye, rewriting the banking landscape and leaving it scattered with new challenges.
Online banking and faster payments have been embraced by customers, but money launderers...
The EU Payment Services Directive (PSD2),
presents any business that processes online
payments or provides account related services
in the European Economic Area (EEA) with the
challenge of balancing the Strong Customer
Authentication (SCA) requirements with a seamless
buyer's journey.
To gain competitive...
Account takeover is the fastest growing fraud vector in retail banking. It's lucrative. It's a service you never want to provide.
Motivated fraudsters attack from every angle, limiting the effectiveness of the best one-dimensional defenses.
iovation offers the most secure, seamless, and comprehensive solution....
JPMorgan Chase researchers have published a new paper describing their efforts at developing a novel "early warning" system based on artificial intelligence algorithms that can detect malware, Trojans and other advanced persistent threats before the phishing campaign that targets the bank's employees even starts.
Digital transformation has propelled a wave of new technological advancement that has arguably enriched people's lives. By the same token, the proliferation of machines - physical, virtual and in the cloud - has posed many security challenges and threats across industries, banking being the most noteworthy. As this...
There's good news and there's bad news.
The financial services industry gets phished more than most. How well do banks and other institutions defend themselves? In some respects quite well, but no one should be complacent.
Download this industry brief and learn:
How FinServ maintains an above-average resiliency to...
Identity theft is the fastest growing crime in the US. Globally, 1 in 60 online transactions are fraudulent. And if you don't know who your customers are, you can't onboard them to your platform.
Though businesses are moving online, their identity verification and KYC processes haven't. Instead, the old processes...
In 2018, the Identity Theft Resource Center counted 1,244 U.S. data breaches - involving the likes of Facebook, Marriott and Exactis - that exposed 447 million sensitive records, such as Social Security numbers, medical diagnoses and payment card data.
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....
SWIFT hacks happen when cybercriminals get in between the customer's network and the SWIFT network. There, they can change or reroute messages and even currency, making even one successful SWIFT hack highly lucrative.
However, these cyberattacks can be prevented with a strong security posture and absolute...
Identity theft is the fastest growing
crime in the US. Globally, 1 in 60
online transactions are fraudulent.
That presents a huge financial
and reputational risk for regulated
businesses if they get their KYC
wrong. As more services move
online and fraud techniques mature,
document and biometric...
The hype around artificial intelligence (AI) and machine learning (ML) has exploded, sometimes overshadowing the real uses and innovations happening every day at organizations across the globe. The reality is that applying AI and ML to data-dependent challenges presents the opportunity for better security, faster...
In October of 2018, the banking industry unveiled its new Cybersecurity Profile to help financial institutions develop and maintain cyber risk management programs. This groundbreaking document - the culmination of two years' work - marries the NIST Cybersecurity Framework with the finance sector's highly complex...
Financial services have historically been at the forefront of adapting to changes in technology, regulations and consumer behavior. While businesses focus on the challenges of customer experience, digital transformation and cloud adoption, the industry is dealing with increased risks posed by operational challenges...
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