The 5 Digital Transformation Identities of Financial Services Organizations

CEB IT

One-third of financial services CIOs identified digital as their top business priority for 2019, up by more than 8% from last year, according to Gartner. Digital business usually means different things for financial services CIOs,” says Juergen Weiss , Practice Vice President at Gartner. “We We can differentiate two completely different digital strategies in the financial services industry: Digital optimization and digital business transformation.”.

How AI is shaping financial services

CTOvision

Artificial intelligence (AI) is in the process of transforming a variety of models in the global financial services industry, a global survey jointly conducted by the Cambridge Centre for Alternative Finance (CCAF) at the University of Cambridge Judge Business School and the World Economic Forum suggests.

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Nation’s Financial Heavyweights Issue Cyber Warning

CTOvision

I have a sense that 100% of my business associates, and the entire online community of CTOvision.com and OODAloop.com are not the least bit surprised at what is in new cyber threat warnings from the Department of Treasury’s Office of Comptroller of the Currency (OCC) and the independent Federal Deposit Insurance Corporation (FDIC). In fact, […]. News FDIC FFIEC OCC

Financial sector leading the way on hybrid cloud

CTOvision

Financial services companies are benefitting hugely from embracing hybrid cloud platforms as the industry continues its digitial transformation journey, new research has found. Findings from Nutanix has found that the financial sector is outpacing all other industries in hybrid cloud deployment, with the majority of companies in the industry now on board with such platforms.

How businesses can reduce the financial impact of data breaches

CTOvision

Read Lance Whitney explain how businesses can reduce the financial impact of data breaches on the Tech Republic : Data breaches can be costly for an organization in terms of lost or stolen data, customer mistrust, legal investigations, and recovery efforts. As a result, the sheer financial costs of a data breach can severely weaken […].

What Financial Services Executives Need To Know About Data Security

CTOvision

Read why financial services executives need to know about data security on Forbes : The financial services industry experiences 35% of all data breaches, earning it the unflattering title of the most-breached sector. It’s easy to understand why. The industry is known for its wide array of interconnected systems and the processing of millions of […]. Cyber Security News

A Guide For Finserv Leaders On Building Their Financial Well-Being Program

Forrester's Customer Insights

In addition to these COVID-19 changes, governments, regulators, and shareholders are now demanding higher standards and mandating financial services firms to better serve and […].

The Downside Of digital Labs For Financial Innovation

Forrester IT

The race to digital is heating up in financial services (FS) organizations; increasingly, the engine making this happen is Agile. Quite simply, it is software that makes any financial business truly digital. financial services. Agile Application Development DevOps Insurance Scrum agile software development banking continuous delivery continuous integration digital disruption digital innovation financial services waterfall

Freedom Financial CIO Taps Analytics for COVID Tracking

Information Week

As employees trickle back to the office, Freedom Financial is using technology and analytics to help prevent the spread of COVID-19

Financial services companies are starting to use the cloud for big data and AI processing

Tech Republic Cloud

The financial sector has historically been nervous about allowing its data to go off premises, making it harder to scale. Now it's allowing for some data in the cloud to speed AI and data management

Surviving the new normal: What to do when a customer asks to see your startup’s financials

Venture Beast

It's possible that enterprise buyers will ask to see your startup's financial statements before committing to buy your product. Business Entrepreneur category-/Business & Industrial category-/People & Society startup financials

Confusion And Vendor Adolescence Stalls AI Innovation In Financial Services

Forrester IT

AI is a hot topic in financial services. And its easy to see why. Increasing margins on transactions, decimated by compliance costs and low interest rates, reaching new market segments, and automating routine tasks, makes AI innovation attractive. And in one sense, FinServ has always been about algorithmic innovation. There is no higher potential ROI than beating the market.

ProBeat: Google will eventually sell ads against your financial data

Venture Beast

Plex checking and savings accounts will have no monthly fees, overdraft charges, or minimum balances. So what's the catch? Read More. AI Big Data Business Commerce Dev Enterprise Entrepreneur Mobile category-/Finance Google Google Pay online banking Plex ProBeat

Finland’s OP Financial Group outlines digital ambitions

Computer Weekly

Chief digital officer at financial services group describes how new technology is fundamentally changing the business

Why 2019 Was Actually A Secret Success For Blockchain In Financial Services

CTOvision

Read Biser Dimitrov explain why 2019 was actually a secret success for blockchain in financial services on Forbes : Now, as most of the 2020 blockchain predictions have settled in and the year is near its end, let’s review the highlights in the enterprise blockchain and digital assets space, especially in the financial services vertical. […].

COVID-19 Stokes The Chatbot Hype In Financial Services

Forrester's Customer Insights

COVID-19 and the associated containment measures are accelerating digital transformation and automation in financial services. Age of the Customer Banking Chatbots financial services virtual agents voice technology Bank of America Capital One chatbots virtual assistants voice assistants

Russian-speaking hacker targeting financial institutions

Computer Weekly

A Russian-speaking cyber criminal gang is targeting financial institutions in the UK, US and Russia, a Moscow-based security firm reports

What Financial Firms Want in Cloud Adoption Strategies

Information Week

Lead technologists from three financial institutions shared their infrastructure transformation needs at New York Enterprise Tech Meetup

The Advantages of a Faster Blockchain for Global and Financial Institutions

CTOvision

Read Zac Johnson’s article about why blockchain can provide speed and transparency for global and financial institutions on Influencive : Blockchain technology is becoming increasingly integrated into the mainstream, beyond the popular cryptocurrency market. Even traditional financial institutions, banks, investment companies, etc.,

Financial malware more than twice as prevalent as ransomware

Computer Weekly

While ransomware continues to make the headlines, particularly in the wake of WannaCry, research has revealed that financial threats are 2.5 times more prevalent

G7 sets financial sector cyber defence guidelines as attacks grow

Computer Weekly

G7 countries have agreed cyber security guidelines in response to concerns about the safety of interconnected global financial systems that are increasingly coming under attack, according to Symantec

5G In Financial Services

Forrester's Customer Insights

5G will become a general-purpose technology for financial services firms. Age of the Customer banking customer experience management customer-centric design financial services Insurance mobile technology omnichannel customer experience 5G

The Future Of Financial Brands: Less Financial, More Brand

Forrester's Customer Insights

A new crop of challenger brands, such as Alibaba, Amazon, Apple, Google, Starbucks, T-Mobile, Tencent, and Walmart, are on the prowl in the financial services category. And that should have traditional financial brands worried — very worried. Age of the Customer B2C marketing banking CMO Trends customer experience financial services

Invest In The Right Technologies To Develop Your Financial Well-Being Program

Forrester's Customer Insights

Putting financial well-being at the core of their strategy is critical to financial services firms’ ability to win, serve, and retain customers. In “The Forrester Tech Tide™: Financial Well-Being, Q3 2020,” we highlight 18 significant technologies.

Small businesses underestimate financial damage of cyberattacks

Tech Republic Security

The average breach causes an average of $149,000 in damages, yet most small-to-medium-sized businesses thought cyberattacks would cost them under $10,000, survey reports

Will financial advice be delivered primarily through Netflix-like subscription platforms?

Trends in the Living Networks

The ideas presented in the report include the rise of “fit-nance” tracking of holistic advice, financial advisors focusing on life coaching, and ubiquitous user ratings of advisors. One of the key concepts in the report is that financial advice will be substantially provided over Netflix-like subscription platforms: The “Netflixing” of advice. That is less likely to happen in financial advice, but it points to the potential value of these approaches.

Oracle Launches Financial Services Cloud

Data Center Knowledge

based financial services companies, the service integrates with other Oracle SaaS products Read More. Initially available to U.S.-based Cloud Computing Oracle

Cyber attacks cost financial firms up to £1.6m a time

Computer Weekly

The costs associated with cyber attacks on the financial sector are rising as organisations face increasingly sophisticated threats, research shows

Financial services CIOs above average for digital focus

Computer Weekly

IT leaders in the financial services sector realise they must undergo digital transformation as existing business models become outdated

Why financial planning asks more of CRM than other industries

IT Toolbox

The demands on CRMs from the financial planning and wealth management markets are greater than from other industries. This is partly the result of regulatory pressures but in addition, money management platforms need to continue to interact with clients at a highly granular level as both customers’ financial needs and the condition of public financial markets change.

Booz Allen Releases Annual Financial Services Cyber Trends for 2015

CTOvision

The Top Financial Services Cyber Security Trends for 2015: Third-party risk moves to the top of the list. Like other sectors, the financial services industry is a huge mesh of intertwined capabilities. As illustrated by numerous breaches this year, the security posture of critical third parties, such as the retail industry, can have a profound impact on financial services firms. By Katie Kennedy.

Free Report From O’Reilly Examines Best Practices Financial Firms Use In Cloud Transitions

CTOvision

Stricter regulations and changing technology have forced financial services organizations to make major changes in the way they handle sensitive data. With a focus on engineering and infrastructure, this O’Reilly report examines the tools and best practices that leading financial firms are using to migrate data to the cloud, build customer event hubs, and adhere […].

Europe Predictions 2021: Digital Acceleration In Financial Services

Forrester's Customer Insights

2020 has been a challenging year for financial services. Age of the Customer Banking Europe financial services Insurance covid-19 digital Financial Services insurance pandemicFirst, COVID-19 hit insurers with business interruption and travel insurance claims.

Financial cyber attacks increase as malware writers join forces

Computer Weekly

Financial malware attacks increased 16% in the second quarter of the year, driven by collaboration between the developers of two banking Trojans in the top the financial malware threats, says Kaspersky Lab

In (Partial) Defense of Financial Jargon

IT Toolbox

Financial jargon — or as it is less charitably called, business BS — has been a mainstay of the industry since time immemorial. Anyone who has clicked “agree” to credit card terms and conditions without reading will know that financial jargon doesn’t affect day-to-dayBut it seems to have limited usefulness to anyone other than banking lawyers.

How to Protect your Personal and Financial Information

CTOvision

It’s evident that the essential aspect in your network or personal computer is the data that you have created. The main reason why most people are in a network or possess a personal computer is to store their data in a way that can easily be accessible. Whenever you want to input protective strategies such […]. Cyber Security data protection data security protecting data

5 Technologies Ready To Take The Financial World By Storm

IT Toolbox

When the financial industry changes it sends shockwaves around the world. We're just hoping the next time anything significant occurs it's fairly positive. There is a good chance it will be and it's all thanks to new technology. Although these technologies aren't brand new they've not quite hit the mainstream yet. Fortunately, it won't be the case much longer. Let's take a

Daimler Financial Services CIO Says: Don't Get Comfortable

Information Week

Daimler Financial Services CIO Udo Neumann says you may be successful today, but unless you transform and innovate, that success will be gone

Financial institutions need to rethink security, say analysts

Computer Weekly

Financial services providers need to rethink their approach to information security, according to the results of a global survey

Financial services companies are ahead in hybrid cloud deployments

Tech Republic Security

But 73% of financial companies are moving applications off the cloud and back on premises

Hardwire CX To Financial Performance In The Financial Services Sector

Forrester's Customer Insights

Business leaders in the financial services (FS) industry are used to tracking success with measures that reflect shareholder, investor and market regulator values like return on equity, net profit, assets under management and capital adequacy ratio.

New York financial watchdog calls for social media cybersecurity regulator after Twitter hack of Biden and Obama accounts

Tech Republic Security

The New York State Department of Financial Services said platforms like Twitter and Facebook are now "systemically important" and need cybersecurity oversight

Financial Firms’ Cloud Security Practices Maturing: Report

Data Center Knowledge

Almost every financial services firm stores personally identifiable information in the cloud Read More. Shared