Cybersecurity


Compliance: back to basics

Ensuring security on Swift’s network doesn’t have to be rocket science. Getting the basics right will help individual institutions and Swift’s community.

EastNets unveils real-time fraud detection solution

EastNets has launched its en.SafeWatch PaymentGuard (en.SWPG) at Sibos, a real-time fraud detection solution for Swift payments. The company says en.SWPG is a new artificial intelligence (AI)-powered solution, that can sort out “genuine transactions from suspicious ones and reduces the number of false positives”. Hazem Mulhim, CEO, EastNets, says it “recognises the mounting salience of […]

Daily News at Sibos 2017 – Day 1

Read our first Daily News at Sibos edition of the Sibos 2017 conference in Toronto – all the latest news and analysis from Swift’s premier event of the year. Free to read online or pick up a complimentary print copy if you are at Sibos!

Cybersecurity: into the data breach

Cybersecurity has become a significant issue as attacks are increasing. In the new payments ecosystem, where third-party developers can directly interact with banks’ customers, data privacy and security become paramount, according to the World Payments Report 2017.

Around Fintech in 8 Hours – new online course launched by CFTE

Centre for Finance, Technology and Entrepreneurship (CFTE) has launched a fintech foundation course – Around Fintech in 8 Hours – “designed to give professionals working in the finance industry a solid understanding of how technology is redefining the provision of financial services”.

Tascet teams with Secured2 to launch Algo5 data security offering

Identification technology company Tascet is partnering with Secured2 to launch a new data security offering. The product, Algo5, aims to protect data against both internal and external breaches, hacks, and disasters, reports Julie Muhn at Finovate (Banking Technology‘s sister company). The new data storage solution combines Tascet’s SuperToken, which verifies a user’s identity, with Secured2’s Beyond Encryption, […]

Bank of England fintech accelerator feels the fourth for innovation

The Bank of England’s (BoE) fintech accelerator has unleashed four new initiatives in the fields of distributed ledger technology (DLT), data storage and analysis, machine learning and cybersecurity. As reported in July, BoE revealed the third stage – such as its work with machine learning Mindbridge AI, DLT darling Ripple, and regtech bouncer Enforcd. Now […]

Combat insider data breaches with privileged access management

The high risk of cybercrime for financial institutions means that they are generally quick to adopt new technologies which may alleviate the risk of a breach. However, banking institutions can often be held back by legacy infrastructure and applications, due to the sheer scale of their IT operations, which can prove costly to upgrade.

Whole Foods Market Reports Breach

On Sept. 28, Whole Foods Market announced it had recently received information regarding unauthorized access of payment card data used at certain venues such as taprooms and table-service restaurants located within some of its stores.

Are you data breach fatigued?

Data breaches are nothing new – quite the contrary – in fact their very frequency makes it likely that we’re fatigued to the point of indifference by the number of leaks which are surfacing, reports Telecoms.com (Banking Technology’s sister publication). Knowing the value of money is a lesson parents have been teaching children for years, […]

Semafone Appoints John Donaldson CFO

Semafone, a U.K.- and Boston-based provider of data security and compliance solutions for contact centers, has appointed John Donaldson to the role of chief finance officer, as the company prepares to build on its record growth in 2016.

Infographic: Banking in Europe 2017

Banking by the numbers in the EU, with key facts and figures from the European Banking Federation, including stats on which fintech is getting the love from big banks.

BioConnect on Where to Start with Biometrics Investment

Ahead of FinovateFall’s kickoff in New York today, Paybefore spoke with BioConnect Chief Identity Officer Bianca Lopes about all the biometrics buzz in payments and the financial services industry. Her advice to companies looking to invest in biometrics: Don’t forget about the users.

What we learnt at CloudSec: life, death and Twitter

Before you get too excited about the down and dirty world of cloud security, we should warn you this is more of a light-hearted report on the quirky things our sister publication Telecoms.com picked up at the CloudSec conference.

FIS, Equifax Want You to Say Goodbye to Passwords

FIS, a global financial services technology company, has joined forces with information specialist Equifax to create OnlyID, a digital authentication solution that enables consumers to make secure transactions across multiple online accounts without passwords.

Cybersecurity progress will require speaking the right language

Elizabeth Denham, the UK’s information commissioner, made an astute point when she recently called for senior bank executives to get the same cybersecurity training as front-line staff, following the global WannaCry ransomware attack. But implementing the kind of comprehensive cyber defence strategy which includes such training will require a monumental culture shift at the top.

Infographic: why your moat is no longer enough to protect your castle

In the 1600s, Spain built an impregnable defence system to protect the San Juan Bay in Puerto Rico. This defence in-depth system fortified San Juan with three lines of defence, marking a high point in military engineering for the time period. A similar model could be used to protect your institution’s account holders from today’s cyberattacks. But with 15.4 million Americans falling victim to identity fraud last year, three lines of defence are no longer enough.

White paper: digital trust is transforming online and mobile banking

Banks are beginning to re-align their internal processes and external-facing products to take advantage of, and more fully realize, the potential of digital transformation. One of the biggest challenges they come up against in this pursuit is how to balance customer experience and security. In other words, implementing a framework that accounts for all the […]

Big data and cybersecurity fuel Atos revenue rise

The delightful duo of big data and cybersecurity have fuelled the revenue rise for IT services corporation Atos. In its first half 2017 results, Atos’ “strongest H1 ever”, the firm revealed a revenue in big data and cybersecurity of €357 million – a rise of 13.8% organically. Thierry Breton, chairman and CEO, says: “Either on […]

IBM launches security testing services for IoT developers

IBM’s security arm is launching testing services for the internet of things (IoT) – with Watson IoT offering configuration and management capabilities for IoT environments, reports Finovate (Banking Technology’s sister company). IoT technologies are on the rise – in fact, Gartner predicts that connected things will reach 20.4 billion by 2020. This flood of new capabilities comes with the […]

Compliance Titans: Jim Schafer, FIS

An early interest in credit cards hooked Jim Schafer on payments. Since then, his work has taken him across the globe in roles as diverse as programming and human resources. But it’s his current role as senior compliance director of FIS Payments that has led him to be named one of Paybefore’s Compliance Titans.

Staff get cyber checked with Willis Towers Watson diagnostic tool

Here’s a twist on the usual cybersecurity stuff. Advisory firm Willis Towers Watson has launched a new diagnostic tool designed to assess people’s cyber readiness. The firm says its tool can be used to “recruit, lead and engage a more cyber-savvy workforce”. It reckons that roles in cybersecurity are “some of the most in-demand across […]

IBM unveils data protection engine for cloud era

IBM has unveiled IBM Z, a new transaction system, capable of running more than 12 billion encrypted transactions per day and designed for use in the cloud. The firm is looking to address data breaches, which it reckons are a major factor in the $2 trillion cybercrime impact on the global economy by 2019. IBM […]

UN report reveals global cybersecurity holes

We have all suspected the world is not ready for the connected era, though the International Telecommunication Union’s (ITU) Global Cybersecurity Index (GCI) has confirmed it.

People on the Move: RiskIQ

Digital threat management firm RiskIQ has expanded its management team with three new executive appointments, including Nick Puetz, Jenna Raby and Clarence Cheuk.

Quantum of solace with Atos simulator launch

Prepare for cybersecurity impact! IT services corporation Atos has launched the “world’s first commercially available” machine-system capable of simulating up to 40 quantum bits (Qubits). The simulator, named Atos Quantum Learning Machine (Atos QLM), is powered by an ultra-compact supercomputer and a universal programming language. Its uses naturally extend far beyond fintech, such as for […]

P2P Is Gaining Steam, but Security Concerns Remain

Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.

Verizon jumps on the AI-security bandwagon

Verizon’s venture capitalist arm has started throwing its weight around the security arena, pumping cash into artificial intelligence (AI) start-up SparkCognition.

SoftBank Invests $100 Million in Cybersecurity Firm Cybereason

Cybereason, a Boston-based cybersecurity startup, continues to rake in the cash, with the latest capital infusion coming from SoftBank Corp. The Japanese telecom and Internet service provider has invested $100 million in Cybereason, according to a June 21 announcement.

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