Displaying items by tag: Financial services

COMPANY NEWS: Hazelcast, the real-time intelligent applications platform, announces the new Hazelcast Platform, enterprise software capable of serving as a single platform for transactional, operational and analytical workloads. The Hazelcast Platform combines the capabilities of a real-time stream processing engine with in-memory computing to deliver a simplified architecture that is highly performant, scalable and reliable.

Published in Enterprise Solutions

Australia's managers consistently overrate both their own — and their organisation's — efficacy at engaging and recognising the value of employees, according to a new study commissioned by Achievers, the progressive choice for employee voice and recognition solutions that accelerate a culture of performance.

Published in Guest Research

Research commissioned by Appian shows automation is helping more than half of financial services organisations to build apps quicker than competitors.

Published in Guest Research

Research commissioned by Appian shows automation is helping more than half of financial services organisations to build apps quicker than competitors.

Published in Business IT

GUEST OPINION by George Tsoukas, Gigamon ANZ: While the financial services industry is no stranger to unexpected events and their repercussions, the current global upheaval is creating unprecedented uncertainty. Faced with this, how should financial services organisations respond?

Published in Guest Opinion

Australian banking group Westpac has announced that peer-to-peer lending platform SocietyOne is the second partner to join its new digital banking-as-a-service platform.

Published in Market

Australian biggest customer-owned bank, Heritage Bank, has teamed up with professional services organisation Ernst & Young Australia (EY) to deploy a new Open Banking solution.

Published in Enterprise Solutions

The competition watchdog, the ACCC, will not oppose financial services company IOOF’s acquisition of the National Australia Bank owned MLC Wealth Management.

Published in Strategy

COMPANY NEWS: Financial services specialist Balmain has boosted its IT systems speed, increased reliability to 99.9 percent, added new services and reduced costs – all after implementing virtual load balancer technology from Kemp.

Published in Enterprise Solutions
Friday, 20 November 2020 12:32

2021 DATA RISK REPORT FINANCIAL SERVICES

GUEST RESEARCH:  Varonis, a global pioneer in data security, has just released its 2021 Financial Services Data Risk Report, which delves into the state of data security in the banking, insurance, and investment sectors.

Financial services remains one of the most targeted industries by malicious attacks, partly due to the sensitive data it collects from customers, with the average cost of a data breach among the highest of any industry at 5.85 million USD. Despite the need to protect this sensitive data, on average, every employee has access to nearly 11 million files.

The abrupt transition to remote work has exponentially increased this risk, with employees logging in through unsecured networks and home computers. Furthermore, it has potentially increased the response time to a data breach.

Some of the key findings include:

  • A financial services employee has access to nearly 11 million files. For larger companies, the number doubles to 20 million files.
  • 20% of all folders are open to every employee.
  • 39% of companies have over 10,000 stale — but enabled — user accounts.
  • Nearly two-thirds of companies have 1,000+ sensitive files open to every employee.
  • About 60% of companies have 500+ passwords that never expire.

The full Varonis report can be accessed here.

Published in Guest Research

Organisations in Australia are turning their attention to business transformation to improve employee systems as the "post-pandemic" world increases the reliance on technology, according to a new study which reveals that spending and investment on IT is growing despite the current economic headwinds.

Published in Market

The Indian conglomerate Indiabulls, which is involved in financial services, real estate, pharmaceutical products, leasing of construction equipment, LED lights and facilities, has been hit by an attack of the CLOP ransomware that affects computers running Microsoft's Windows operating system.

Published in Security

Australian financial firms are struggling to keep up with the pace of regulatory change, with 69% of local risk managers concerned that complex, interconnected new risks are emerging more rapidly than their own skills are advancing.

Published in Technology Regulation

The financial sector outpaces all other industries in hybrid cloud deployments – hosting workloads in both private and public cloud – but trail others in their use of multiple public cloud services, according to a new global report.

Published in Cloud

More than 60% of all leaked records in 2019 were exposed by financial services organisations, with hacking and malware causing 75% of all data breaches in the financial services industry, according to a new security report.

Published in Security

Mary McHale, Financial Services Director, Equinix Asia-Pacific

GUEST OPINION: SPONSORED NEWS. The emergence and increasing adoption introduction of new digital payment methods, such as ‘buy now, pay later’ platform AfterPay and Open Banking payments platfoms that allow for real time payments like SplitPay alongside better known digital wallets like Apple Pay, are propelling Australia rapidly ahead as it moves toward a cashless, cardless society.

Published in Market

Australian software consultancy ThoughtWorks has appointed banking industry veteran Vic Wolff as its new director of financial services.

Published in People Moves

Digital global domestic money transaction values are exploding around the world, with a new market report forecasting the value of transactions will exceed US$3.5 trillion by 2024 - up from US$1.8 trillion in 2019.

Published in Market

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