SWIFT

Facing security challenges at its member banks and competition from other tech providers, the Society for Worldwide Interbank Financial Telecommunication [Swift] plans to put its best foot forward in 2017.

In response to a series of cyber bank thefts, Swift has developed new guidance. It's a necessary first step, though banks for now are still left to fend for themselves.

The payments messaging network Swift has told its client banks that the threat of cyberattacks "is very persistent, adaptive and sophisticated — and it is here to stay."

A group of banks is turning to Swift's anti money laundering tools, with a particular eye on "de-risking."