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Tag Archives: Cybersecurity

10 data science considerations for financial institutions

Advanced data science promises numerous benefits to financial institutions in a wide variety of areas, including marketing, sales, operations, consumer intelligence, portfolio management, risk and compliance. Here are 10 significant areas of concern that financial institutions should consider as they evaluate their technology priorities: Artificial intelligence (AI) – AI can …

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Top 10 data breaches to impact the financial services industry

Consumers expect financial institutions to provide an expert level of security when it comes to sensitive data. Over the years, however, some of the biggest data breaches have involved, in some way or another, financial institutions. Here’s a quick look at ten of the biggest data breaches impacting the financial …

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Kazakhstani police launch investigation into data leak

Kazakhstani police are investigating the leak of the personal data of Kazakhstani citizens. Earlier this year, it was discovered that an online database containing the personal data of about 11 million Kazakhstani voters was freely available to anyone for viewing and/or downloading. The data contained in the database was current …

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Personal data leaks: the disease of the digital world

With all the recent news about cyberattacks and data leaks, one might sometimes wonder if he/she is really a target. After all, why would someone be interested in the data of an ordinary, maybe even unremarkable person. But the reality is that hackers are interested in whatever personal data they …

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3 Big Data trends in finance

Global investments in Big Data and business analytics is projected to grow from USD 130.1 billion in 2016 to over USD 203 billion in 2020. Here are 3 of the biggest Big Data trends, each represented by an innovative new solution: Business intelligence (Qlik Analytics Platform) – Qlik has developed …

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Data security key for consumer confidence in open banking

Reservations about data security pose the biggest challenge when it comes to increasing consumer confidence in open banking, with 86% of respondents to a recent Forrester Consulting (on behalf of TransUnion) survey concerned about data being sold and 82% concerned about data breaches. As financial institutions begin their push into …

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3 key areas for a future with open banking

As open banking continues its path toward offering consumers greater financial products and services, it is interesting to consider what things are necessary for open banking to become the new normal. Perhaps there is no other single thing more important for the long-term success and uptake of open banking than …

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Key security questions in an open banking ecosystem

While open banking represents a step forward for financial institutions, data and customer identity must remain the highest priority. In fact, the European Banking Authority (EBA) recently released new guidelines on open banking systems that named data security a top priority as banks begin to share their customers’ financial information …

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Personal data compromised through API vulnerability

The personal data of consumers who requested a loan and/or credit card from the now liquidated Binbank may have been compromised. The compromised data includes names, passport data, phone numbers and addresses. The data was compromised due to a vulnerability in an API mechanism. Moreover, it is possible that a …

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Kazakhstan actively developing digital financial infrastructure

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The National Bank of Kazakhstan, together with the banking community, is implementing a number of new initiatives on the digitization of financial services such as its launch of the interbank Instant Payment System, a system which allows consumers to execute online payments instantly via a mobile number. The regulator is …

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First school of digital economics in Russia

The creation of the first school of digital economics in Russia was announced last fall at the Eastern Economic Forum. The school, founded as an innovative educational project designed to train personnel for solving advanced tasks in the digital sphere, will be built based on individual educational trajectories and the …

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Cyber skills program launches in Australian schools

The Australian Computing Academy (ACA) has announced the launch of the Cyber Security Challenge, a USD 1.35 million program to teach cyber security to year 7-10 students in Australia. The program, which will be taught in conjunction with the compulsory Digital Technologies Curriculum, brings real-life cyber security experience and expertise …

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China’s FinTech model and why the West won’t catch up

China has embraced FinTech solutions as ways to make their lives easier, with one-stop shop apps allowing nearly half a billion people to access a dizzying array of financial services. Meanwhile, the West seems relatively stuck in a world of plastic and paper. Here are five reasons why FinTech solutions …

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Brexit’s impact on FinTech in the UK and the EU

The full-scale implications of Brexit are unclear for a number of industries, including the FinTech industry. Dr. Joanna Perkins of the Financial Markets Law Committee (FMLC) outlined six key areas of Brexit impact: Policy divergence – although the United Kingdom (UK) will have less interference in its affairs, UK approaches …

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Video: 10 strategic technology trends in 2019

From blockchain and artificial intelligence to quantum computing and augmented analytics, here’s an overview of 10 strategic technology trends that are helping to bring the virtual world and the real world together in 2019. Infographic: alternative lending options for small businesses Infographic: artificial intelligence – catalyst of the next industrial …

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Infographic: using communication apps in the financial sector

Production and effective communication is vital for any financial company in the modern world. Communication apps such as WhatsApp offer easy communication solutions; however, it is important that financial companies remain compliant with regulations when using them. Check out this infographic for useful tips on how to compliantly use communication …

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Video: 4 predictions for FinTech in 2019

FinTech has become increasingly influential in markets around the world. Here are four predictions for how FinTech will continue to impact our lives in 2019. WeChat owner receives investment fund license Banks struggle in assessing, acquiring fintech firms Infographic: top 20 reasons startups fail

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The future of banking: secure omnichannel banking

As a broader range of banking services are becoming available on a variety of new platforms, consumers are increasingly using a combination of channels to conduct banking activities. The next wave of innovation in the banking sector, however, seeks to move past physical contact (e.g. going to a bank, using …

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5 reasons why IoT is not yet ready for primetime

The internet of things (IoT) has been one of the biggest trends in recent years and promises to continue growing for the foreseeable future. While the benefits of IoT are numerous, it’s still not ready for primetime, and here are five reasons why: Fragmentation in protocols – a fragmented landscape …

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