article thumbnail

Madrona backs WaFd Bank spinout developing consumer software for regional banks

GeekWire

(Archway Photo) Key Takeaways Archway , spun out of Washington Federal (WaFd), provides digital banking infrastructure to regional banks. The Seattle-area startup raised $15 million in a round co-led by WaFd Bank and Madrona Venture Group. The goal is to help community banks stay competitive with giants like J.P

Banking 118
article thumbnail

Should You Use SMS Two Factor Authentication For Your Website

IT Toolbox

As it stands, the future of SMS 2FA seems uncertain, at least in regulated industries like banks and insurance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Impact of technology on insurance industry

Hacker Earth

Like every other industry, the global insurance sector, worth over $5 trillion, has undergone an immense overhaul because of disruptive technologies in recent years. According to PwC’s 2017 Global InsurTech Report, the challenges the insurance industry faces in their ability to innovate are. Talent (87%). IT security (53%). Blockchain.

article thumbnail

Four of the Biggest Financial Data Breaches of 2019

Galido

Perhaps not surprisingly, banks, insurance companies, and other financial-service firms are 300 times more likely to suffer from a cyber-attack than other industries. What caused the security failure is not yet known, but the exposed documents were viewable to anyone without the need for authentication. The Westpac/PayID Breach.

Financial 100
article thumbnail

How Serious Is The Lack Of Machine Learning Talent?

The Accidental Successful CIO

However, at banks, insurers and other financial companies their use of artificial intelligence is being especially hampered by a scarcity of data and talent. The banking and financial services sector have been showing a steady increase in demand across the board for AI-enhanced robotic process automation tools.

article thumbnail

Passwordless MFA for Customers: How to Fortify Security without Introducing Friction

CIO Business Intelligence

Password-based authentication is likely the most widely used method of authenticating users to online services. Password-based authentication is used because it is easy to understand and implement. They provide multifactor authentication (MFA) without the usual burden on the user. on a user’s other online accounts.

article thumbnail

NASCO data breach exposes 800k users

Dataconomy

NASCO, which handles benefits administration for Blue Cross and Blue Shield health insurance customers, fell victim to this attack on their MOVEit Transfer software. Moreover, using two-factor authentication and employing reputable antivirus software adds an extra layer of security.

Data 80