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Don’t break the bank: Stopping ransomware from getting the best of your business

Network World

The stages of a cyberattack are analogous to that of a bank robbery. When discussing the progression of a cyberattack with CXOs, I often describe it like this: • Stage 1: When bank robbers are planning a heist, the first thing they do is identify potential banks to target.

Banking 104
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AI, predictive analytics top list of hot technologies for banks

CIO Business Intelligence

Hot technologies for banks also include 5G , natural language processing (NLP) , microservices architecture , and computer vision, according to Forrester’s recent Top Emerging Technologies in Banking In 2022 report. AI enhances operational efficiency. 5G aids customer service. 5G aids customer service.

Banking 141
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World's Largest Bank ICBC Hit by Ransomware

SecureWorld News

The Industrial and Commercial Bank of China (ICBC), recognized as the world's largest commercial bank, has fallen victim to a ransomware attack. The bank, in response to the incident, promptly disconnected and isolated affected systems to contain the breach. and even introducing a bug bounty program to ransomware development.

Banking 92
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Banking and financial software development: Features and requirements

Dataconomy

The development of banking and financial software is essential to the banking sector’s digital transformation. Banks and other financial organizations may simplify operations, boost security, and provide clients with better services thanks to these software solutions. Multiple account types (savings, checking, etc.),

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Customer centricity: How Mashreq Bank is placing its customers at the forefront of its operations.

CIO Business Intelligence

Mohamed Salah Abdel Hamid Abdel Razek, Senior Executive Vice President and Group Head of Tech, Transformation & Information, Mashreq explains how the bank is integrating advanced technologies and expanding its digital footprint. This approach has significantly enhanced the customer banking experience.

Banking 116
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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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AI bias poses danger to the financial sector, Bank of England warns

Computerworld Vertical IT

The implicit bias of present-day generative AI models make their rapid adoption in the financial sector hazardous, according to a report by a financial technology expert working for the Bank of England.