Published By: Proofpoint
Published Date: Aug 10, 2017
BEC attacks are a growing threat to businesses because they prey on vulnerabilities that can’t be patched: people. That’s why employee training, financial controls, and especially technology are the keys to a strong defense and timely response. You need need a solution that does not solely depend on reputation and basic email filtering. With granular controls, advanced email solutions can identify and quarantine impostor emails before they reach an employee’s inbox.
Published By: MarkLogic
Published Date: Sep 29, 2017
The clock is ticking: It’s time to future proof your data for MiFID II (and future regulations). Learn how to accelerate your MiFID II Compliance--within 30 days. Download our Quick Start Guide, designed to get you up and running with the major components and related processes for MiFID II, including an approach for building a fully integrated regulatory reporting solution.
In the Quick Start Guide, we’ll cover:
- What our consulting service can help you accomplish in 30 days
- Key factors for your success
- How we work
- Why financial institutions trust MarkLogic for successful MiFID II implementations
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Digital technologies and increasing customer engagement point traditional financial institutions towards a wonderful new world of an enhanced customer experience. Herded by a wave of regulatory ‘enablers’ - through the yin-yang regulations in the form of the GDPR and PSD2 - the industry landscape is ripe for transformation for those willing and able to embrace this new world: connected customer ecosystems beyond their own institutional walls. In doing this, this creates more comprehensive customer journeys - and ultimately, better quality customer experiences.
Whether you’re a dynamic eCommerce engine with a mesh of 2nd party affiliates and sister companies, a travel hub with a central office and 70+ markets to serve, or a traditional financial institution with inherited legacy, here are the key questions every marketer should ask themselves - and their stakeholders - when considering a DMP.
Digital innovation has changed everything: the money is everywhere,
so every business is a potential target for fraud.
Banks and financial institutions used to be the primary targets of fraud. Why banks? To quote the
notorious American bank robber Willie Sutton, “because that’s where the money is.” While banks
remain firmly in the crosshairs of fraudsters, the avalanche of digital business innovation has
Since the money is everywhere, every business is a potential target for fraud. The same technology
that helps us find airfare deals, sweet concert seats, or the best prices on the hottest Jordan shoes–
that is, bots–can now be used by criminals.
Fraudsters employ automated, faceless bots that scour business apps looking for any opportunity to
profit. And since fraud targets business-process weaknesses and not just software vulnerabilities, you
may not even know when it is happening.
Published By: Workday
Published Date: Mar 02, 2018
Higher education is in financial crisis, according to 71 percent of chief business officers
(CBOs) surveyed by Inside Higher Ed. Read the 2017 report to understand how these leaders view the
financial and other challenges facing higher-education institutions in the U.S.
To get the most out of their computer automation initiatives, financial institutions must take a step back, assess their current IT environments, adjust as needed and make important decisions regarding the future of their IT infrastructures.
Banks want to use technology to work smarter, better and faster to maintain regulatory compliance, reduce risk and increase productivity. Automated IT systems management is helping them reach those goals in a seamless, efficient manner.
Published By: Intralinks
Published Date: Apr 13, 2015
In the wake of the 2008 financial crisis regulatory exams have become increasingly demanding for governance, risk, and compliance professionals. New rules brought about by the Dodd-Frank Act will continue to shape future examinations including safety and soundness, compliance, market conduct, and risk-based targeted exams. We can expect these changes will require examiners to spend more time onsite, request more documents, and extend the scope and/or depth of their examinations. This means it is more important than ever to avoid the classic mistake of sharing examination documents through ad-hoc, manual processes and delivering highly sensitive data through unsecured channels like mail, e-mail, thumb drives, and FTP.
In response to these increasing burdens financial institutions are looking to take control with a more structured, collaborative process for collecting, refining, and submitting regulatory information. Download this white paper to learn more about Intralinks VIA.
Published By: Intralinks
Published Date: Apr 13, 2015
In the wake of the 2008 financial crisis, financial institutions are faced with increasing scrutiny from government regulators. The Dodd-Frank act was passed in response to the disaster, creating the Consumer Financial Protection Bureau and mandating 398 new rulemakings, many of which remain to be finalized. In light of these events financial services organizations are increasingly relying on Intralinks® as the most secure way to control sensitive information when collaborating within and outside their organizations. Intralinks meets the strictest security, auditability, and compliance requirements of regulated entities around the world – regardless of business complexities.
Download this white paper to learn how Intralinks VIA for Financial Services can help you control your communications with regulators and other third parties.
Sanctions screening and fraud prevention solutions use real-time detection to prevent terrorist financing and financial crime; whereas anti-money laundering (AML) primarily follows an “observe and report” process. Such a process is all that is currently required by many regulators. Increasingly though, international compliance teams are choosing to stop transactions before they are executed – based on suspicions of money laundering activity. More and more, the industry has been asking itself if this approach of rejecting suspicious activity is a more effective strategy to prevent money laundering. This paper explores where and why AML real-time detection might make sense as a new paradigm for global financial institutions.
Global anti-money laundering (AML) standards have long required that understanding beneficial ownership be a part of a financial
institution’s AML program. Beneficial ownership outlines the identity of individuals with a controlling interest in a privately held company, enabling a financial institution to understand the ultimate beneficiary of a financial transaction. Identifying beneficial ownership can be a complex process, but it’s one that institutions must conquer if they are to remain in compliance with industry rules and legislation.
With the recent Financial Accounting Standards Board vote to proceed and the final Accounting Standards Update now published, the Current Expected Credit Loss (CECL) standards remain top of mind for the C-suite in financial institutions. Now is the time to begin the steps for developing a data preparation plan for CECL.
With the recent Financial Accounting Standards Board vote to proceed and the final Accounting Standards Update now published, the Current Expected Credit Loss (CECL) standards remain top of mind for the C-suite in financial institutions. Even though the official adoption deadline has been pushed back to after December 2019, financial institutions should take actions today to help prepare for the new rules. Data is a great place to start.
The Impact of CECL and Financial Institution Readiness
When it comes to CECL compliance, top financial consultants agree that extensive amounts of historical data, including different lengths of portfolio histories, will be needed. In addition, this research reveals that a majority of financial institutions do not understand how their risk management methodology needs to change. Nor do they comprehend the impacts of the changes that will need to be made to calculate Allowance for Loan and Lease Losses (ALLL).
This represents a significant opportunity for top-tier consultancies to provide valuable thought leadership and guidance now, before financial institutions find themselves scrambling to meet the new standard. Learn more in our survey results."
"In today’s ever-evolving lending landscape where loan quality and risk management challenge profitability and the customer experience, technology may be the key to thriving – both now and in the future. Winning financial services institutions will be the ones that transform their business models to place loan quality and risk management at the center of their operations.
To facilitate continuous life-of-loan management, inclusive of the requisite data transparency and audit trails that support loan quality and loss mitigation, these institutions will implement and automate a loan completion process. Such a process will manage data quality and access to loan data and documents throughout origination, servicing and sale on the secondary market."
Financial institutions seeking to attract new customers and revenue channels are expanding into digital services, real-time payments and global transactions. However, with every new service, criminals are developing innovative ways to infiltrate financial systems, and older technologies that mitigate fraud no longer work as effectively.
So how can financial institutions respond to this growing threat?
Fortunately, more advanced technologies hold great potential for real-time financial crime mitigation. Learn about five current and emerging technologies that could impact money laundering and fraud mitigation, including artificial intelligence/machine learning, blockchain, biometrics, predictive analytics (hybrid model) and APIs.
Read the latest Fiserv white paper: Five Tech Trends That Can Transform How Financial Institutions Detect and Prevent Financial Crime.
For the past decade, financial institutions have created sophisticated digital platforms for consumers to access, save, share and interact with their financial accounts. As sophisticated as these digital platforms have become, cyber criminals continue to pose an ever-present risk for everyone – from individual consumers to large corporations
In his recent article, 2018 Outlook: Customer Experience and Security Strike a Balance, Andrew Davies, vice president of global market strategy for Fiserv’s Financial Crime Risk Management division, explains how and why security will become a key differentiator for financial institutions as they respond to a changing landscape, which includes:
•Global payment initiatives
•Open Banking standards
•Artificial intelligence and machine learning
•Consumer demand for real-time fraud prevention and detection
For decades, the financial services industry has endured constant change
and uncertainty, from the depths of a financial crisis to widespread
regulation overhauls. With the advent of more advanced cybersecurity
threats, the industry has responded with rapid digital transformation to
remain competitive while also pushing the envelope. Today, managing
and mitigating cyber-related risks not only draws government scrutiny, but
increased consumer scrutiny as well, with longstanding brand reputations
anchored to institutions’ ability to protect its most sensitive data. In a
recent survey of Americans, financial information was considered by
consumers to be their most valuable personal information, worth even
more than personal or family photos and videos. For consumers, failing
to protect their data is a grave violation of trust, to the point where 72%
would consider leaving their current financial institution if their sensitive
information was taken hostage by ransomware.1
Not only does the
This whitepaper will review how business processes are more efficient in an electronic data environment. Enterprise Capture enables customer service improvement, cost cutting, and compliance for financial institutions such as Flagstar and Randolph Brooks Federal Credit Union (RBFCU).
At this free, one-hour webcast, moderated by Bank System & Technology Editorial Director Kathy Burger, you will learn how intelligent capture and exchange capabilities can help your organization automate the entire mortgage loan process - linking back-office information processes, front-office knowledge workers, customers and partners to enable financial institutions to exchange information automatically with anyone, anywhere, in any format.
Published By: Data Stax
Published Date: Oct 14, 2016
Financial services companies engage with customers across multiple channels and across a range of financial products. This wealth of customer information is often stored in isolated data silos. Building a 360° view of the customer can directly impact customer experience and help banks grow customer retention, upsell products and provide compelling interactions. This paper examines the challenges these institutions face when creating a 360° view of every customer interaction, what database requirements the lines of business should look into, and use cases to benefit from by leveraging DataStax Enterprise, the database platform purpose built to power cloud applications.