Financial institutions Stories - Page 22

Global Stories

Financial institutions stories

Financial sector's growing focus on cloud resiliency in 2023

The Cloud Security Alliance's new report reveals that 78% of financial institutions use single-cloud systems, emphasising resilience amid rising cyber threats.

By Shannon Williams • 3 min read • Thu, 12th Dec 2024

Ransomware

Zscaler report reveals surge in mobile cyberthreats

Zscaler's latest report reveals over 200 malicious apps in Google Play, urging organisations to enhance mobile security amid rising mobile threats.

By Melania Watson • 3 min read • Wed, 4th Dec 2024

Data Protection

Australian banks criticised for weak email scam defences

Research by Proofpoint reveals that 66% of Australian banks are ill-equipped to combat email fraud, risking customer safety amid rising scams.

By Catherine Knowles • 3 min read • Tue, 26th Nov 2024

Data Analytics

AUSIEX enhances engagement with NICE CXone integration

AUSIEX has integrated the NICE CXone platform to boost customer engagement and operational efficiency, enhancing its services in the financial sector.

By Melania Watson • 2 min read • Tue, 26th Nov 2024

Unified Communications

Global fraud attacks rise 19% amid AI exploitation

A new report reveals a staggering 19% rise in global fraud attacks, largely fuelled by AI exploitation, highlighting urgent need for improved detection measures.

By Kaleah Salmon • 3 min read • Fri, 22nd Nov 2024

Supply Chain

Bitsight acquires Cybersixgill for USD $115 million

Bitsight has acquired threat intelligence provider Cybersixgill for USD $115 million, bolstering its cybersecurity capabilities amid rising cyber risks.

By Melania Watson • 3 min read • Tue, 19th Nov 2024

Supply Chain

Financial sector prepares for EU DORA regulations in 2025

As the EU's DORA regulation looms, financial firms are urged to bolster digital resilience or risk severe operational disruptions by January 2025.

By Sean Mitchell • 3 min read • Mon, 18th Nov 2024

Financial institutions

HID acquires IXLA to enhance document personalisation tech

HID has acquired Italian firm IXLA, enhancing its portfolio in secure credential issuance and expanding its reach in European and emerging markets.

By Melania Watson • 2 min read • Wed, 13th Nov 2024

Stories from Other Regions

Financial institutions stories

Cloud Services

UK & US firms face rising data costs despite upgrades

A new study reveals that 94% of financial institutions in the UK and US anticipate rising data budgets, raising concerns over cost control amid increasing expenses.

By Shannon Williams • 3 min read • Thu, 12th Dec 2024

Customer Experience

Visa mandates end of SMS OTPs to tackle AI-driven scams

Visa will require Australian financial institutions to move beyond SMS One-Time Passwords for payments by October 2026 to combat rising AI-driven fraud.

By Sean Mitchell • 3 min read • Mon, 9th Dec 2024

Data Protection

Don't let your company make headlines for all the wrong reasons

New APRA regulations demand Australian financial firms enhance cybersecurity measures or face hefty penalties, after rising data breaches affect millions.

By Andy Milburn • 4 min read • Wed, 4th Dec 2024

Firewalls

Southeast Asia sees surge in web threats amid digital shift

Southeast Asia faced an alarming average of 146,944 web threats daily in H1 2024, with Malaysia leading at 19,615,255 incidents, Kaspersky warns.

By Catherine Knowles • 3 min read • Tue, 3rd Dec 2024

Money Laundering

Corporate Digital Identity: a tool to combat financial crime

Financial crime is set to cost global economies USD $485.6 billion in 2023, prompting calls for Corporate Digital Identity to enhance fraud prevention.

By Melania Watson • 3 min read • Fri, 29th Nov 2024

Fintech

UK elderly urge banks to keep branches amidst digital age

A staggering 88% of older UK residents believe banks should retain physical branches, highlighting concerns over the digital divide and access to services.

By Imee Dequito • 3 min read • Fri, 22nd Nov 2024

Outsourcing

Outsourcing AML: Five key factors for financial firms

EFI advises financial institutions on five key considerations for outsourcing AML operations amid rising regulatory pressures and operational costs.

By Sean Mitchell • 3 min read • Thu, 21st Nov 2024

Data Analytics

SAS campaigns for anti-fraud AI during awareness week

SAS teams up with the Association of Certified Fraud Examiners to advocate for anti-fraud AI during International Fraud Awareness Week amid rising fraud tactics.

By Sean Mitchell • 2 min read • Thu, 21st Nov 2024

Customer Experience

AI partnership enhances credit scoring in Indonesia

AND Solutions has secured a software agreement with PT AEON Credit Service Indonesia to deliver AI-driven custom credit scoring solutions.

By Imee Dequito • 2 min read • Mon, 18th Nov 2024

EduTech

Continuous screening vital to detect 75% more money mules

A study by Synectics reveals that 75% of money mules remain undetected without continuous KYC and AML screening, presenting a major threat to banks.

By Shannon Williams • 3 min read • Fri, 8th Nov 2024

Digital Transformation

Asian banks face rising crime threat due to low AI use

A report reveals that over 50% of financial institutions in Asia are failing to adopt AI for anti-money laundering, risking exposure to financial crime.

By Melania Watson • 3 min read • Tue, 29th Oct 2024

Generative AI

Busting money laundering in Australia is dependent on making better data connections

The persistent ability of criminals to exploit legitimate structures to launder money has banks and others on the hunt for new tools and techniques to counter the threat.

By Peter Philipp • 5 min read • Thu, 24th Oct 2024