August 15 — There may still be services that the average consumer prefers to access in-branch, but applying for a new digital product isn’t one of them. Fortunately, there are options available for remotely onboarding your existing customers quickly and securely, writes Dewald Nolte, Entersekt’s chief commercial officer.
Remotely enrolling users is a growing concern for digital service providers, especially in the security-minded industries. How do you make it easier — a lot easier — for your customers to sign up to new products and services at home, especially with so much else — and so many other providers — competing for their attention these days?
August 14 — With improved technology comes the need to revamp outdated frameworks. Respondents to a recent TD Bank survey of finance and treasury professionals were not shy to call out the need to refresh internal infrastructure systems as the main roadblock to success in implementing digital payments strategies, with 36 percent citing the need for corporations and/or smaller banks to update legacy system to support these functions.
By Brian Vecci, Technical Evangelist, Varonis
The news hackers successfully broke into the computer systems of a Virginia bank and stole $2.4 million is every executive’s worst nightmare. The digital heist illustrated how an attacker could leverage just one compromised employee account to move laterally on the network, escalate privileges, and access critical systems that let them make off with more than $500,000. To add insult to injury, the attackers used their access to disable or bypass measures the bank put in place to improve security and fraud protection. Eight months later, they returned, stealing more than $1.8 million.
Social engineering is the latest trend in cyberthreats.
By Alaina Webster, Managing Editor
Is the title for this column a quote from a Dr. Seuss book? No. But you’d be forgiven for making that assumption. None of those words (except for “and”) even looks like an actual word, certainly not one you’d find in a professional publication. They’re all real, though, and all types of social engineering fraud your institution could be facing soon.
Costly payouts can be stopped with comprehensive insurance coverage.
By Leslie Greathouse
The nightmare scenario in any insurance claim involves a denial due to the fine print.
While this situation seems common for homeowners or drivers, not many realize the level of risk for financial institutions handling private customer information. No longer can it be assumed an insurance policy will provide the coverage needed to handle data breaches and other cyber crimes, and without regular review, polices can become outdated and unable keep up with current threats or contain terms that void claims against those threats. In fact, many cyber insurance policies available in the marketplace have conditions and exclusions on the most common type of claims that can be very tricky to navigate.