Within financial services, risk management is rarely thought of in terms of its impact on business transformation programs or on customer experience and engagement. But in highly dynamic and competitive markets, every part of the business — including risk management — must be viewed in terms of its ability to drive change, generate value and satisfy rising Read More
The cost of cybercrime across the world is staggering, with some estimates ranging as high as more than $22 trillion a year in direct losses and the cost to deal with the aftermath. And in the banking sectors, the withdrawals are stunning: somewhere north of $600 billion a year, according to one estimate in a recent study Read More
For years, financial institutions have found themselves in the headlines as a result of an ethics, compliance or risk breach. Of course, steering clear of any type of risky business might sound like the safest bet. But for the benefit of their long-term growth, financial institutions can’t be totally risk averse—or else they face a risk of Read More
Five decades after they were first unveiled in Swinging London as marvels of secure, cash-dispensing convenience, automatic teller machines are more vulnerable than ever—thanks to a wide array of attacks that include skimming devices, malware, intercepted communications, outright theft of the machines—and a new technique known as “jackpotting.” To thieves who pull this latest type heist, the Read More
The Hermit Kingdom, nuclear armed and firing off ballistic missiles, is estranged from the rest of the world and cut off from trade. But building missiles and nukes is not a cheap endeavor. So to fund these programs, Kim Jong-un—whose forbears built one of the most fearsome cyberwarfare programs in existence—is increasingly flexing those muscles to pilfer Read More
Whether it's through the use of chatbots and predictive analytics, or taking compliance and fraud fighting to the next level, artificial intelligence promises to change every aspect of banking like nothing else before it. Three members of BAI's leadership team--President and CEO Debbie Bianucci, Managing Director Karl Dahlgren and Chief Marketing Officer Holly Hughes--share their perspectives of Read More
To create operating leverage or grow revenue faster than expenses represents the essence of business. And with compressed margins the new normal, it’s an economic necessity to lift or accelerate growth trajectory. Thus in a thin-margin business, stimulating top line revenue growth amounts to a priority for every financial institution. The law of diminishing returns Taking a Read More
For many financial institutions, information security awareness programs are a regulatory requirement. Yet requirement doesn’t by any means equal enjoyment: They represent a major pain point for most and are frequently seen as an annual obligation. Their value is often difficult to quantify; thus they get little funding or attention. But once implemented, these programs mount an Read More
In the race to secure customer satisfaction, banks must balance security and convenience. With an estimated 265.9 mobile phone users in the United States, banks are ramping up their mobile offerings. But they’re also finding that they need to tighten up security—or else face leaving the vault wide open for cyber criminals. In a restless 24/7 effort Read More
More often than not we consider banking and financial sector threats as external—and yet, organization insiders are more likely to launch a cyberattack. In fact, many argue that insider threats actually pose a greater risk than external threats as the employees (“insiders” for the sake of this article) already have access to or at least know where Read More
