Futurae Technologies AG

🤖 In a bold move to fight the growing threat of AI-driven scams, Santander has launched a UK-based campaign using deepfake technology to demonstrate how easily fake videos and audio can deceive people. The campaign features realistic deepfake videos of Santander’s Fraud Lead, Chris Ainsley, and financial influencer Mr Money Jar. The goal is to shock and educate the public by making them realize that if even trusted figures can be convincingly faked, anyone could fall victim to these sophisticated scams. New data reveals a concerning gap in public awareness: over half of Brits (53%) have either never heard of the term "deepfake" or misunderstand what it means. Even more alarming, only 17% feel confident they could easily identify a deepfake video. 📈 The line between real and fake is increasingly blurred, and understanding and mitigating the risks associated with deepfakes is critical. This campaign can serve as one more wake-up call to the banking industry; as deepfakes become more sophisticated, so too must our security measures. The risk of identity theft and fraud increases with the rise of generative AI, making it crucial for banks and overall financial institutions to invest in advanced authentication technologies and security protocols. #deepfakes #GenerativeAI #fraud #BankingSecurity #AI #CyberSecurity #FraudPrevention #DigitalTransformation

Every story is made up of inspiring characters, and we want to introduce three new protagonists in our narrative: - Athanasia, joining our team of Android Engineers, is ready to transform complex code into seamless, user-centric experiences. - Andromachi, our new Product Marketing Manager, who will bridge technology and business, ensuring our innovations reach and resonate with those who need them most. - 🕴Anders, Engineering Manager, ready to support and lead our engineering teams as they take on new challenges. Their arrival signals a new chapter of growth at Futurae. Are you ready to be part of a story where your contributions matter? 👉 Explore our career opportunities: https://lnkd.in/d3wbqvbs Welcome aboard, Nasia, Andromachi, and Anders! 🎉 #TechCareers #FinTech #JobOpenings #Engineering #cybersecurity #FinTechJobs #careers

🌐 New EU rules on digital resilience: Are you ready? The EU’s Digital Operational Resilience Act (DORA) requires financial institutions to bolster their defenses against cyber threats and operational disruptions by January 2025. For those driving Digital Transformation and Operations in these organizations, this means more than just compliance—it’s an opportunity to lead with resilience and innovation. Additionally, for Digital Banking Managers and Heads of Digital Customer Experience, DORA provides an excellent pathway to build further trust with customers. 🔍 Key actions under DORA: - Incident management: Develop comprehensive strategies for detecting, preventing, and mitigating cyber threats and disruptions. - Automated workflows: Implement automated workflows for risk management and compliance reporting, which will allow for quick adaptation to new regulations and risk factors. - Vendor resilience: Ensure your vendors meet stringent operational resilience standards. DORA emphasizes due diligence and clear oversight. - Contractual clarity: All vendor contracts must clearly define roles, responsibilities, and resilience training requirements, including defined audit rights, to ensure transparency. DORA compliance isn’t just about meeting regulations – it’s about setting new standards in digital resilience and customer trust. Embrace these changes to safeguard your operations and enhance the overall user experience. #DigitalBanking #BankingInnovation #DigitalResilience #CyberSecurity #FinTech #DORA #DigitalTransformation

🚫📩 Singapore Banks forced to phase out OTPs To fight the rising threat of phishing attacks, Singapore's Monetary Authority (MAS) and the Association of Banks (ABS) have officially announced that all Singapore retail banks must phase out one-time passwords (OTPs) for online logins within the next 3 months. Customers will transition to using digital tokens on mobile devices, enhancing security by eliminating OTPs that scammers can easily steal. 🔍 Why OTPs are vulnerable: - Phishing attacks: Scammers use lookalike sites and social engineering to harvest OTPs. - OTP bots: Tools like OTP bots and phishing kits bypass OTP protections by tricking users into disclosing their codes. 💡 Impact on banks and customers: - Enhanced security: Digital tokens provide stronger protection against unauthorized access. - Reduced fraud risk: Eliminating OTPs reduces the chances of credential theft and account hijacking. - Customer experience: This shift will not only improve security but also enhance the overall UX by simplifying the login process. Financial crime tactics are becoming more and more sophisticated, and adopting future-proof security measures is the only way to stay ahead. Moving away from OTPs is a first step, yet not enough. Banks should invest further in continuous monitoring and adaptive authentication methods to ensure comprehensive fraud detection and protection. #BankingSecurity #CyberSecurity #DigitalTransformation #FinTech #Innovation #banking #MobileBanking #OnlineBanking

While we continue to strengthen digital trust across the globe, we're excited to welcome our newest team members: • Orestis, IT Operations Specialist, who will keep our systems running smoothly. • Edson, Technical Support Engineer, ready to ensure a great experience for our clients with a smile. • Nikos, Senior Software Backend Engineer, who will play a key role in our platform's backend breakthroughs. Are you interested in building the future of digital security and fraud prevention? 👉 Explore careers with us and become part of our mission: https://lnkd.in/d3wbqvbs #JobOpenings #CareerOpportunities #NowHiring #TechCareers #careers #hiring #engineering

AI advances rapidly, presenting both significant opportunities and challenges for the global economy. Central banks need to be "attuned" to the dynamics of AI, said Hyun Song Shin during the launch of the BIS 2024 Annual Economic Report. 🔍 What you need to know: - Data Utilization: AI uses vast amounts of data to provide real-time insights, enabling better decision-making and risk assessment. Central banks are encouraged to use AI to sift through data for financial system vulnerabilities and enhance nowcasting abilities for economic variables. - Transformative Potential: AI can revolutionize the financial sector by improving efficiency in payments, insurance, and asset management. It also enhances central banks' capabilities in economic forecasting, risk management, and financial stability. - Cybersecurity Concerns: With AI's potential to both enhance and threaten cybersecurity, central banks need to be prepared to tackle sophisticated cyberattacks while also leveraging AI to automate threat detection. 💡 Strategic Actions: - Embrace AI: Central banks must integrate AI into their operations to stay relevant and effective. This involves not only using AI tools but also understanding and proactively managing the risks associated with it. - Collaboration and Data Sharing: Establishing a "community of practice" among banks to share AI models, data, and best practices ensures that everyone is part of the journey towards the widespread adoption of AI, overcoming resource limitations together. - Focus on Security: Given AI's potential to both aid and threaten financial stability, robust cybersecurity measures must be prioritized to stay protected against AI-driven attacks. #banking #AI #cybersecurity #DigitalTransformation #FraudDetection #FraudPrevention #AIFraud #FinTech

🔥 Today I was speaking at the The Founders Peak at Point Zero Forum in Zurich. This is not just another event for me; it was a challenge, I am frank. I do not particularly enjoy talking about myself, tell my story, my journey, but more about the future of cybersecurity. This years Point Zero Forum is an incredible gathering of 2,000 central bankers, regulators, policymakers, industry leaders, technologists, and investors. Over three days, we talked about policy, finance, and technology roadmaps, and explored latest innovations shaping our financial ecosystems. For me, this was more than just an opportunity to speak; it was a chance to connect with other passionate individuals who are committed to making a difference. It's about fostering strategic dialogues and strengthening collaborations between the public and private sectors. I am honored to be part of this gathering, not just to share my insights but to learn from the brilliant founders who were with me on stage. Thank you Elevandi team, State Secretariat for International Finance SIF and Monetary Authority of Singapore (MAS) for these amazing three days. --> website: https://lnkd.in/e3Mpc7Hp #Cybersecurity #Innovation #Entrepreneurship #DigitalTransformation #Fintech #Leadership Futurae Technologies AG photo credit Eliane Gmuender

With phishing attacks growing 40% in 2023 and AI-powered deepfakes reaching new levels of sophistication, combining great UX and high security is more important than ever. A few days ago, Philippe, CEO, took the stage at the IN BANQUE event in Paris and, during his interview, addressed some critical insights on this topic: 🔓 Fraud doesn't just affect victims financially—it has serious psychological effects as well. For companies, the consequences include significant direct and indirect costs, and potential damage to their reputation. 🧩 The most effective approach to authentication is a modular one. By using an up-to-date authentication toolbox and adapting tools based on evolving needs, companies can stay ahead of threats. 👁️🗨️ Monitoring all user interactions across all channels is crucial for detecting fraud, and it's essential to ensure this is done in a privacy-preserving manner. Philippe's insights underscore the necessity of a proactive and adaptive approach in the fight against fraud. At Futurae, we're committed to developing solutions that strike the perfect balance between security and user experience. Our goal is to protect both individuals and businesses from the emerging digital threats that surround us. For more details on how we're shaping the future of digital security, stay tuned! #InBanque2024 #InBanque #DigitalSecurity #Fintech #Cybersecurity #Innovation #FraudPrevention #AI #Phishing Next Content

A recent survey by Sanction Scanner, encompassing insights from over 400 respondents across 50+ countries, reveals the top fraud and financial crime threats facing banks and other financial institutions in 2023. 💡 Here's what they found: 1. Identity Theft (42%): The leading concern that shows how important it is to have strong measures in place to protect identities. 2. Cyberattacks and Data Breaches (28%): Notable rise, with a 1,300% increase in ransomware attacks and a surge in phishing incidents. 3. Payment Fraud and Transaction Manipulation (19%): Persistent threats impacting financial transactions. 4. Insider Fraud and Collusion (11%): Internal threats that can be challenging to detect. 🛡️ Now, let's talk about how you can stay protected against identity theft: - Multi-Factor Authentication (MFA): Adds extra layers of security, making unauthorized access harder. - Adaptive Account Recovery: Utilizing signal-based and metadata scoring to detect and prevent unauthorized access by analyzing user behaviors and contextual signals. - AI-Driven Fraud Detection: Implementing AI systems for continuous monitoring and real-time anomaly detection. As financial crime threats become more sophisticated, it's crucial to verify that users are whom they claim to be. Let's not just stay protected but also stay vigilant and proactive. 💪 #BankingSecurity #IdentityTheft #FraudPrevention #CyberSecurity #FinTech #DigitalTransformation #AI #FinancialCrime

J-7 ! Delighted to join the In-Banque event in Paris to share our views and innovations in digital security for financial services users. With phishing attacks growing 40% in 2023 and AI-powered deepfakes reaching new levels of sophistication, combining great UX and high security is more important than ever.