November 4 — According to recent research from both Wells Fargo and Bank of America, small businesses are booming. The latest Wells Fargo/Gallup Small Business Index found that optimism among small business owners jumped significantly last quarter, reaching in overall index score of 129 — 11 points higher than the previous quarter’s score of 118 and the highest in the survey’s 15-year history. Fall’s 2018 Bank of America Business Advantage Small Business Owner Report shows that most entrepreneurs anticipate year-over-year revenue growth, and many indicated plans to hire and expand in 2019. However, B of A’s report also found that while business owners are pleased with the direction of the economy, finding qualified talent to fill open positions is still a challenge.
November 28 — In its most recent quarterly Banking Outlook research study, Chicago-based BAI unveiled three top challenges facing banks of all sizes in 2019: deposit growth, loan growth and new customer acquisition.
The headline-making Equifax data breach in 2017 prompted many financial services companies to take a long, hard look at their data vulnerabilities.
By Troy M. La Huis, CAMS, and David R. McKnight, CISSP
November 26 — Given the spate of major data breaches in recent years, you’d be forgiven if you’d forgotten about the incident involving Equifax that occurred just over a year ago. But nearly 150 million people were affected in that breach, which was just one more example of how companies must adapt to a changing world.
By Ryan Zlockie
Consumers are bringing change to banks.
Once seen as just a collection of local branches, banks are embracing new, digital touchpoints to satisfy evolving customer demands. According to a recent report, more than half of all U.S. consumers prefer an omnichannel experience when banking. But as consumer touchpoints continue to expand, such as the advent of mobile peer-to-peer services, a new question is poised to emerge. How can you maintain high security standards while also meeting needs of modern consumers?
By Mark D. Smith
November 20 — Not very long ago, financial institutions (FIs) completed their final ATM upgrades to Windows 7 with a sigh of relief. Now just a few short years later, FIs are facing another costly and time-consuming upgrade to Windows 10 by January 14, 2020 or face the same security risks they did with the Window 7 migration – no updates, no patches, no technical support, PCI non-compliance, increased operating costs, possible performance issues and more.
With a growing threat of malware and cyberattacks, no FI can afford to do without the necessary security updates which are vital to secure ATM operations.