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BNY Mellon banks on AI to improve master data

CIO Business Intelligence

Data about who owes how much to whom is at the core of any bank’s business. At Bank of New York Mellon, that focus on data shows up in the org chart too. Chief Data Officer Eric Hirschhorn reports directly to the bank’s CIO and head of engineering, Bridget Engle, who also oversees CIOs for each of the bank’s business lines.

Banking 117
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New Cyber Incident Reporting Rules for U.S. Banks

SecureWorld News

At the same time, banking organizations are a growing target for cyberattacks. One study by Trend Micro reported a 1,318% rise in ransomware attacks targeting banks in the first half of 2021. Many banks will have just a day and a half to report cyber incidents, under a new rule that will go into effect on May 1, 2022.

Banking 74
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Research: The acceleration of Australian banks’ use of social media

Trends in the Living Networks

While financial services and banking were traditionally highly relationship-based, the shift to online has significantly eroded those relationships. Matthew Warren, and Dr. Shona Leitch from Deakin University have done some interesting research in their paper A study on how Australian banks use social media. Vindaya Senadheera, Prof.

Banking 133
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What Oracle’s cloud expansion means for businesses in the Middle East

CIO Business Intelligence

He noted that the company was investing heavily to enhance their infrastructure, physical presence, partner network, human resources, and other support capabilities in this region. We have been in this country for 30 years and we have good, loyal customers in the Kingdom – from telcos and banking to the public sector.

Oracle 145
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What IT leaders need to know about the EU AI Act

CIO Business Intelligence

Between the astronomical fines, sweeping scope, and unclear definitions, every organization operating in the EU now runs a potentially lethal risk in their AI-, ML-, and analytics-driven activities.” “With the passing of the EU AI act, the scariest thing about AI is now, unequivocally, AI regulation itself,” Carlsson says.

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How CIOs reinterpret their role through AI

CIO Business Intelligence

For Daniele Deligia, IT director of Italo-Nuovo Trasporto Viaggiatori, Italy’s first private operator of high-speed rail networks, the exchange of information between the CIO and other executives is good for business. IT was divided into three parts: core banking, IT infrastructure, and data management, analytics, and AI.

Banking 86
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Acceptance Networks for Self-Sovereign Identity

Phil Windley

When I hand a merchant in London a piece of plastic that I got from a bank in Utah to make a purchase, a tiny miracle happens. In the past, these kinds of transactions required that the merchant trust me or my bank. Visa, Mastercard, American Express, and Discover are all examples of acceptance networks.

Network 89