Security Industry Association

DECEMBER 29, 2023

Elevated Customer Experience Competition in the financial services industry is intensifying, prompting banks and credit unions to prioritize the customer experience in order to stay ahead. This not only fosters better customer engagement, it also leads to richer lines of communication, strengthening the bank-customer relationship.

Banking 52

Banking Technology Financial Services Marketing 52

FS-ISAC

OCTOBER 13, 2023

AI Risks for Financial Services Organizations AI as a democratizer of talent and a tool for enhancing people’s skills can also extend the capabilities of threat actors. SLSA is an open-source framework, and now FINOS (Fintech Open Source Foundation) is looking at how that plays into financial services projects.

Cybersecurity 69

Cybersecurity Financial Services Authentication Resilience 69

Fusion Risk Management

JANUARY 5, 2023

Operational resilience has been top of mind for regulators and financial services firms for the past few years. Financial services firms are always the first to get the attention of regulators, but the push towards operational resilience extends far beyond FinServ.

Resilience 52

Resilience Financial Services Audit Outsourcing 52

Bernstein Crisis Management

FEBRUARY 11, 2021

Yet surprisingly few have meaningful and up-to-date incident response plans (IRPs) in place to manage and mitigate this threat. Such plans, if properly designed and updated, can spell the difference between strong mitigation and recovery from an incident and prolonged, crisis-driven recovery or no recovery at all.

Response Plan 130

Response Plan Crisis Management Advertising Outsourcing 130

Fusion Risk Management

NOVEMBER 27, 2023

They also emphasize the need for organizations to strengthen their business continuity (BC) and operational resilience programs as well as prioritize agility to mitigate emerging threats and ensure compliance with global regulatory mandates. The panel agreed that regulators are taking a more prescriptive approach to TPRM across the globe.

Resilience 52

Resilience Risk Management Financial Services Business Continuity 52

Pure Storage

MARCH 18, 2024

Consider the highly regulated financial services sector where credibility, accuracy, and timeliness are crucial. Bolstering general financial LLMs with specific, customer, and proprietary vector databases can enhance the ability of financial institutions to train their own LLMs.

Application 122

Application Capacity Financial Services Banking 122

Reciprocity

APRIL 4, 2022

A risk analysis is conducted for each identified risk, and security controls are pinpointed to mitigate or avoid these threats. Implement controls and risk response plans to prevent and mitigate risk. You can use mitigations or controls to reduce a risk’s potential impact, velocity, and severity scores. Low Priority.

All-Hazards 95

All-Hazards Mitigation Risk Management Hazard 95

Fusion Risk Management

DECEMBER 1, 2021

In the case of a financial services company, their critical vendor might be the core processor; for a manufacturing company, it might be their top supplier. Taking the following steps helps appropriately manage and mitigate risks throughout the vendor lifecycle: Dive deeper during due diligence.

Outsourcing 52

Outsourcing Alert Financial Services Outage 52

Fusion Risk Management

DECEMBER 12, 2022

While financial services firms as well as technology and data service providers are accelerating their journey due to new and evolving regulations, it does not change the fact that resilience is everyone’s job – no matter what industry you’re in. Ask yourself: What is the process chain that delivers this overall service?

Resilience 52

Resilience Financial Services Risk Management Business Services 52

Reciprocity

APRIL 4, 2022

Hence cybersecurity risk management is crucial to prevent and mitigate cyber threats. Digital risk protection is a cyber risk management strategy consisting of two main components: Identifying risks and threats, and then mitigating them. Mitigation. How do you know which mitigation measures to implement? Identification.

Mitigation 52

Mitigation Cybersecurity Malware Media 52

Reciprocity

AUGUST 18, 2022

Mitigating or reducing the risk by internal controls or other risk-prevention measures. Factor Analysis of Information Risk (FAIR) provides a common risk mitigation vocabulary to help you to address security practice weaknesses. When establishing an ERM program, risk mitigation is a paramount concern. Step 2: Assess the Risks.

Risk Management 52

Risk Management Management Mitigation Strategic 52

Fusion Risk Management

FEBRUARY 7, 2023

If you ask most resilience students or apprenticeship trainees what their ultimate career goal position might be, heading up the global resilience team for financial services market leaders would likely be high up there. However, once you have reached those lofty echelons, you have a massive challenge on your hands.

Financial Services 52

Financial Services Resilience Crisis Management Vulnerability 52

Reciprocity

MARCH 28, 2022

The reactions to risk include: Acceptance or toleration of a risk; Prevention or termination of a risk; Passing or sharing the risk via insurance, joint venture, or another arrangement; Mitigating or reducing the risk by internal control procedures or other risk-prevention measures. How Automation Benefits Risk Mitigation.

Risk Management 52

Risk Management Management Mitigation Strategic 52

Risk Management Monitor

MARCH 4, 2022

According to experts ranging from independent cybersecurity professionals to officials at the Cybersecurity and Infrastructure Security Agency (CISA), organizations at greatest risk right now include critical infrastructure , banks and other financial services firms, and of course key service providers in Ukraine or Russia.

Management 56

Management Malware Cybersecurity Insurance 56

Castellan

SEPTEMBER 21, 2022

Take for example one of the current most highly publicized changes, the United Kingdom’s Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)’s new requirement that financial services organizations comply with new operational resilience regulations. It’s not just financial services that struggle.

Resilience 52

Resilience Financial Services Disaster Recovery Business Continuity 52

FS-ISAC

MARCH 2, 2022

As a financial services cybersecurity professional who has worked on three continents for large multinational institutions, I understand the advantages and challenges for security departments at banks both large and small. Faced with increasingly sophisticated cyber attacks, small banks can use their size to their advantage.

Banking 59

Banking Cybersecurity Risk Reduction Financial Services 59

Advancing Analytics

NOVEMBER 8, 2023

The RAG's retrieval component helps mitigate this problem by grounding generated content, ensuring the responses it generates are well-grounded and therefore minimising the chances of hallucination. The RAG framework significantly reduces this issue by combining the power of retrieval and generation.

Banking 59

Banking Marketing Architecture Retail 59

Pure Storage

DECEMBER 21, 2023

Customers maintain data custody on single-tenant systems, allowing them to bypass the public internet for data movement that meets compliance requirements and regulations while mitigating egress charges, transit costs, and API and storage charges. Next-generation Infrastructure Models Virtualization.

Disaster Recovery 64

Disaster Recovery Capacity Application Authorization 64

LogisManager

MAY 20, 2021

This can be mitigated with clear policies requiring attestation by users and ensuring corporate devices have a two-factor authentication to access sensitive data. Implementing sound Enterprise Risk Management helps you increase the effectiveness of your risk mitigation strategies by engaging all departments in your efforts.

Risk Management 64

Risk Management Management Authentication Hospitality 64

Solutions Review

SEPTEMBER 27, 2021

Additionally, users can integrate their risk management programs, including the identification, assessment, response, mitigation, and monitoring in a highly visual and intuitive way. Users can also connect their risks to mitigating controls to show how their organization treats its threats. Platform: Enablon. Platform: Enablon.

Government 92

Government Audit Risk Management Hospitality 92

FS-ISAC

JUNE 30, 2022

For financial services organizations, the stakes are even higher because they deal directly with people’s livelihoods and are amongst the most targeted industries– and breaches can have far-reaching financial, reputational, and regulatory implications.

Vulnerability 52

Vulnerability Cybersecurity Financial Services Malware 52

Fusion Risk Management

MAY 12, 2022

So, how might the new operational resilience methodologies and requirements help us to mitigate future harm? With increasingly complex routes of service delivery and the need to anticipate knock-on dependencies and impacts to other services, there is a clear need for automation.

Failover 52

Failover Resilience Crisis Management Mitigation 52

Fusion Risk Management

SEPTEMBER 12, 2022

Many of our own customers have said that having a “tone at the top” from leadership is critical to get their business team’s buy-in, as no one really wants to take a time out to work on their continuity plans or risk mitigation strategy. It is critical to keep your eye on what regulators are pushing down the pipe.

Resilience 52

Resilience Insurance Insurance Audit 52

Reciprocity

AUGUST 17, 2022

New technologies, increasing digitization, and evolving customer demands create risks that can disrupt operations, weaken cybersecurity, and harm the organization’s reputation or financial position – and above all, leave the organization unable to achieve its business objectives. Risk measurement and mitigation.

Strategic 52

Strategic Risk Management Mitigation Evaluation 52

FS-ISAC

NOVEMBER 8, 2021

BBVA is member of several cybersecurity associations, such as the European Banking Federation, Institute of International Finance, European Financial Services Roundtable, and FS-ISAC. How do you use machine learning to mitigate cybersecurity threats? Effective and efficient sharing of intelligence is also critical.

Security 52

Security Banking Cybersecurity Marketing 52

Solutions Review

SEPTEMBER 9, 2021

The industries Resolver serves include banking and financial services, healthcare and hospitals, insurance, academic institutions, critical infrastructure organizations, airports, utilities, hospitality, government, and more. Users can also connect their risks to mitigating controls to show how their organization treats its threats.

Risk Management 98

Risk Management Management Audit Hospitality 98

Zerto

AUGUST 17, 2021

Mitigating Ransomware and Facilitating Data Recovery. ” A user at a financial services firm revealed that “the fact that the interface is so intuitive is wonderful. According to IT Central Station members, the Zerto platform helps them achieve this objective within a single cloud solution.

Failover 63

Failover Disaster Recovery Fashion Backup 63

Reciprocity

DECEMBER 27, 2022

Risk management refers to a holistic framework that allows the organization to identify, assess, control, and minimize all its risks: financial, reputational, regulatory, strategic, operational, transactional, and cybersecurity. Perform a risk assessment to determine how to mitigate new risks and how a GRC tool can help you with this goal.

Government 52

Government Audit Risk Management Disaster Recovery 52

LogisManager

MAY 9, 2023

By taking a risk-based approach, they have been able to mitigate potential financial risks associated with third-party vendors. This mitigated the risk of losing money if the collection agency went bankrupt. Steven is a frequent speaker in the Energy , Financial Services and Cyber industries.

Banking 98

Banking Risk Management Management Corporate Governance 98

Security Industry Association

MARCH 9, 2023

These risks are associated with a wide range of threats, such as denial of service, insider behavior and data leakage. The costs of a technology risk incident tend to be high, as evidenced by the many news stories about ransomware, theft, and denial of service that affect organizations large and small.

Marketing 111

Marketing Security Technology Risk Management 111

PagerDuty

JULY 18, 2022

To illustrate this point, let’s take the example of a Customer Service Agent who works at ABC, a financial services company, and receives a ticket regarding a failed login. Customer Service teams can eliminate the need to navigate through multiple systems and duplicating the same information across platforms.

Communications 52

Communications Technology Financial Services Outage 52

LogisManager

FEBRUARY 10, 2022

The world is also more dependent than ever to maintain financial stability amidst rising inflation and the inherent unpredictability brought on by the pandemic. Reputational risk in banking and financial services is associated with an institution losing consumer or stakeholder trust. Fraud & corruption.

Banking 52

Banking Risk Management Strategic Evaluation 52

Reciprocity

AUGUST 24, 2022

You’ll think ahead, anticipating new risks down the road and your organization’s risk response: accept, avoid, transfer, mitigate. IRM leads to a more realistic analysis and evaluation of managerial actions for risk mitigation by additionally taking into account events that occur beyond the researched risks alone.

Risk Management 52

Risk Management Audit Insurance Insurance 52

Reciprocity

NOVEMBER 5, 2021

You must find ways to manage, mitigate, accept, or transfer these risks. It’s also crucial to document the steps to risk mitigation (the actions that will be taken to manage each risk.). The modern corporate organization faces a host of risks that can affect operational efficiency and regulatory compliance.

Risk Management 52

Risk Management Management Audit Strategic 52

Reciprocity

MARCH 24, 2022

So what can your organization do to minimize the possibility of fraud and mitigate its potential harm? Internal auditors can also search for fraud and mitigate potential damages. Leverage ZenRisk to Mitigate Fraud Risk in Your Organization. Strong internal controls. These auditors must know how to assess fraud risk.

Audit 52

Audit Banking Activation Authorization 52

Reciprocity

SEPTEMBER 30, 2022

Adopting a zero-trust approach to network and data access by third parties is the best way to mitigate such risks. It shows where third parties are creating risk, how it is changing, and how providers can manage it to mitigate business exposure. In addition to weak control policies, this increases the risk of cyberattacks.

Healthcare 52

Healthcare Management Risk Management Vulnerability 52

Castellan

JUNE 10, 2021

If you’re not already working on building a cybersecurity program for your organization and haven’t figured out how to work cyber threat management and mitigation into your operational resiliency planning, now is the time.

Resilience 52

Resilience Healthcare Cybersecurity Impact Analysis 52