Financial services websites are ‘considerably’ more compromised than any internet banking user would hope or expect. A new report by Menlo Security says that in 2017, this category had more than 12,000 ‘known bad’ sites, than any other traditionally trusted category. More than a third (39 per cent) of top Business & Economy websites are a known risk, it was said.The report states that this is the case because “more sites in the Business and Economy category rely on vulnerable software than any other category”. Many of the sites use Microsoft IIS 5 web server, which basically died 12 years ago.Almost half (42 per cent) of top 100,000 sites (Alexa’s ranking) are at risk due to using outdated software. At the moment, there are 4,600 phishing sites that use legit hosting services like Google or Blogspot. Surfers generally trust these services, making them extra vulnerable to phishing attacks.Menlo Security's report also said that 19 per … [Read more...] about Financial services being increasingly targeted by hackers
Ever since the global economic crisis of 2008, the financial services industry has become entangled in an ever-increasing web of regulation. Few would argue that increased control is unnecessary, following a crash that cost the global economy somewhere between $60trn and $200trn. But the drain on businesses is immense.The number of rule changes that global financial institutions must track on a daily basis has trebled since 2011, to an average of almost 200 per day*. Meanwhile, banks like HSBC have quadrupled their compliance head count to around 7,000 people in less than 10 years, at a cost of around $1bn globally. You get the feeling that there has to be a better way.No surprise then that the software industry has stepped in, seeing the smorgasbord of regulation as an opportunity to carve out a whole new category of technology solution: RegTech. According to the FCA, RegTech applies to “new technologies developed to help overcome regulatory challenges in financial … [Read more...] about RegTech: the saviour of financial services?
Symphony has been called a ‘Bloomberg-killer’ since its launch in 2014 because it offers a cheaper alternative to the chat function in the popular data terminals long considered a mainstay for traders.The secure messaging and collaboration platform started out as an in-house chat tool at Goldman Sachs, providing secure communications between employees and allowing them to easily share sensitive documents. Symphony is now valued at over $1 billion, according to reports, and has 235,000 subscribers, with users that range from traders and portfolio managers to salespeople and risk managers.Customers include JPMorgan Chase, Citigroup, Goldman Sachs and Nomura.But Symphony CEO David Gurle believes his company’s appeal goes further than financial market traders. Symphony is already selling to organizations in other highly regulated industries outside of financial services, such as healthcare, defense, legal and government, and wants to expand in the areas in the year … [Read more...] about Symphony targets collaboration users outside financial services
While BlackBerry CEO John Chen is doing what he can to keep the company alive, a study done by the Ponemon Institute (not Pokemon) shows that Chen has a lot of work ahead. Of course, severing ties with one of the top four U.S. carriers might not have been the pro-growth thing to do, but that is a discussion for another day. What the Ponemon Institute discovered, is that about half of the IT executives toiling for a financial service firm, plan on dropping BlackBerry for good next year.The study, which surveyed 400 IT professionals at financial services firms, revealed that BlackBerry's share of mobile devices used in the financial services sector is currently 44%, and is forecast to drop to 30% in 2015. 49% of these IT executives said that they plan to phase out BlackBerry completely in the next 12 months. The biggest reason for making this switch is to make employees more productive.These IT executives have good news for mobile device makers in general. More than 67% say that their … [Read more...] about Half of financial service firms’ IT executives plan on leaving BlackBerry for good next year
posted on 02 Apr 2014, 13:29 1 1. apiskula (banned) (Posts: 578; Member since: 25 Jan 2013) That would be the smartest thing they can do. Leave the sinking ship before you cannot get out. posted on 02 Apr 2014, 18:04 1 12. Mxyzptlk (unregistered) Sinking? That ship has sunk already. posted on 02 Apr 2014, 19:56 2 15. thealphageek1 (banned) (Posts: 942; Member since: 02 Feb 2013) Shut up and go back to skulking around iPhone articles, troll. 18. Mxyzptlk (unregistered) Dude take a chill pill. Are you always this angsty in blackberry articles? 22. thealphageek1 (banned) (Posts: 942; Member since: 02 Feb 2013) Dude, do you always troll BlackBerry articles? posted on 02 Apr 2014, 19:54 1 14. thealphageek1 (banned) (Posts: 942; Member since: 02 Feb 2013) Troll detected. posted on 02 Apr 2014, 13:40 1 2. 1ceTr0n (Posts: 549; Member since: 20 May 2012) How ironic with the news of them also leaving T-Mobile because John hurt Chen's sensative … [Read more...] about Comments for : Half of financial service firms’ IT executives plan on leaving BlackBerry for good next year