Dominic Thijs’ Post

Moreover, many banks continue to use outdated authentication technologies, which are both unsafe and cumbersome for users, such as passwords or one-time-passwords (OTPs). In Vietnam, Decision 2345, effective July 1, addresses this issue to some extent by mandating that all banks use strong authentication technologies like FIDO or biometrics for certain transactions. Timo also pointed out the shortcomings of banks in educating users on how to protect themselves and their assets in the digital space. Many banks still lack adequate and appropriate content and communication methods. https://lnkd.in/gwupy3nH

How is data transforming cross-border payments? Banks have been investing in data management for over a decade, leveraging it to improve operational efficiency, compliance, and fraud prevention. But trust remains key, with financial institutions having to strike a balance between the use of data and the protection of privacy and security.   Explore more in our latest insight and see how data will shape the future of international payments. 👉https://so.ge/6mx Article written by Jean-François Mazure

"To strengthen security, banks are increasingly turning to specialised IT security services. By partnering with experienced providers, financial institutions have access to a comprehensive suite of tools and services to protect themselves against cyberattacks and ensure the integrity of their systems." Read the full article on why financial institutes rely on technology partners for digital transformation. https://lnkd.in/gt6BQrgA #SIFYgotfeatured #digitalbridge #digitaltransformation #SIFYblogs #financialsector #technologyadoption #ITsecurity #technologypartners #cyberattacks Sify Europe Sify Technologies Limited. Srinivas Anappindi

As Data Privacy Week begins, remember that vigilance is the key. In a world where complacency has led to vulnerabilities, setting up digital defenses and actively monitoring them becomes vital. From banking transactions to other related financial data, every bit of financial information needs to be securely monitored and safeguarded.  BANKiQ takes the first day of Data Privacy Week as an opportunity to reaffirm our commitment to providing proactive risk mitigation solutions to the financial and banking sectors. As today’s digital payments ecosystem grapples with security and privacy challenges, we champion safe and secure transactions with our Fraud-risk management solutions. Join us in celebrating Data Privacy Week by prioritizing your digital privacy and banking security. Together, let's navigate to a safer and more secure digital payments landscape. For more information - Visit: https://bankiq.co/ Contact us now! George Varghese | Sudesh Prabhu #BANKiQ #DataPrivacyWeek #DataPrivacy #Data #BankingTransactions #FinancialData #DigitalPrivacy #BankingSecurity #RiskMitigation #DigitalPayments #SecurityChallenges #SecureTransaction #RiskManagementSolutions #BankFrauds #TransactSmartly #FraudRiskManagement

Day Three of OBL Security and Tech Conference. Yesterday was amazing. Great talks about timely topics, ending with a fantastic regulator panel, led by my friend and co-moderator, Jon Waldman. The last question was unique: “We rely on you for scrutiny and critique, but what are community banks doing well these days?” The first three regulators answered: Awareness Training, User Access Lifecycle Management, DR and Immutable backups. Then the last regulator said, “In my position I see threat intelligence and the volume of attacks on financial institutions, which is immense. Yet community banks are not being compromised.” In fact, (and this is my take), I regularly see reports showing that community banks account for less than 1% of data lost in America. Banks are safe. Always have been. Always will be.

Swift Announces AI-Enhanced Fraud Detection for Global Payments Learn more & get our take 👇 https://lnkd.in/g7fmMd8s "Bad actors are using increasingly sophisticated tactics to commit financial crime, and the global financial industry needs to raise its defences higher to ensure their customers can continue to transact globally with confidence." — Jerome Piens, Chief Product Officer at Swift "Collaboration across the banking sector is crucial to enhancing fraud detection, and by sharing data and leveraging AI, we empower ourselves to stay ahead." — Olivier Nautet, Head of Cybersecurity at BNP Paribas "By leveraging the power of AI, Standard Bank Group reaffirms its commitment to innovation and safeguarding the financial assets of its clients." — John Mc Hugh, Head Operations Control at Standard Bank South Africa #SoFNews

Digitalization and emerging technologies continue to shape the banking industry well into the next decade. To stay ahead, bank executives are focusing on three key strategies: 1️⃣ Invest in cybersecurity and data protection capabilities. 2️⃣ Improve the customer experience. 3️⃣ Improve data sharing between digital payment, fraud protection, and AML functions. Still, many banks are falling behind. See how Natech can help. 👉 Let’s talk: https://lnkd.in/dU9EtVdt

Ever heard of #DORA? No, I'm not talking about the adventurous explorer with a monkey and a backpack, but the European Digital Operational Resilience Act (DORA). I get it – Europe and banking might not be everyone's cup of tea, but this is where things get quite interesting in our increasingly digital world. As our lives migrate online faster than you can say “password123”, new risks emerge. #Cyberattacks are skyrocketing, with data breaches and service outages becoming all too common. Plus, most financial institutions are running on software infrastructure provided by a select few tech giants. This is where DORA steps in. Europe's legislation is designed to step up the financial sector's digital defenses. Its mission? Making sure banks and market players are cyber-fit and resilient against all possible cyber threats and attacks. Think risk mitigation, effective incident response management, and coordinated reporting protocols among all stakeholders. With DORA, Europe's truly leading the way with the most comprehensive plan for digital #resilience yet. Congrats Europe. Indeed, contingency planning is becoming more relevant than ever. As the saying goes: “Don't stash all your cash in one digital wallet." #contingencyplanning #digitalresilience #DORA #Cash

Tashkent's FutureBIZ Connect Forum at BMU takes deep dive into fintech and cybersecurity: ... fintech and cybersecurity in the modern business and banking sectors. — Daryo News. ... fintech and cybersecurity within modern business and banking ...

During the forum, one of the questions asked to the panel from Digital Banking was, “How are the traditional and digital banks evolving together? Is it competitive or collaborative? Interestingly, the panel provided many views, a fascinating blend of competition and collaboration, but unanimously agreed that what’s important is that both meet customers' needs. And the way forward is how such collaboration, alongside BSP support, will evolve further sustainably to enhance financial inclusion and meet the shared goals of increasing the banked population and digital payment adoption in the Philippines amidst cybersecurity and privacy threats. #asianbankingandfinanceforum 2024 #insuranceasiaforum 2024