Technology
There is an urgent need for a new class of security solutions that will allow people to retain control of their decentralized financial lives with confidence and safety.
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The latest draft emphasizes integrating cybersecurity into core governance functions and broadens its scope beyond just critical infrastructure sectors. It also offers guidance on dealing with novel threats, such as newer strains of ransomware.
August 17 -
Software can help banks move computing workloads to geographic regions where clean energy is available.
August 16
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The SEC and CFTC charged 11 Wall Street firms $549 million in penalties over recordkeeping violations. The agencies vow to continue enforcing compliance throughout the industry.
August 15 -
White Clay and Quantalytix are two financial technology providers whose founders spent more than a decade in banking and are intimately familiar with the issues they try to solve.
August 14 -
A pair of recently launched products use generative AI to actively train people on cybersecurity through the use of live simulations of real attacks.
August 11 -
The firms are increasingly seeking to integrate generative artificial intelligence into their products, and banks are potentially interested customers. But such efforts are costly, the risks are high and "they want to make sure that they get it right," experts say.
August 11 -
"Smart" contracts enable the Chicago-based trust bank to carry out deals without intermediaries, while archiving details on transactions that can be useful later. Experts say other banks could follow despite the complexities of cutting-edge technology and the risk of being hacked.
August 10 -
Citizens Bank of Edmond in Oklahoma, in conjunction with the digital-banking platform Narmi, recently launched an account-opening process that occurs completely online. The project, completed in less than three months, could be a model for community banks that want to innovate but fear being a low priority for vendors.
August 10 -
Artificial intelligence can and should be integrated into the business of banking, but with adequate safeguards in place to mitigate the technology's potential vulnerabilities.
August 10
