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The Team Approach to Cybersecurity

Posted by Jennifer Roland-Vlach

Jan 17, 2019 1:02:35 PM

The FFIEC’s Cybersecurity Assessment Tool (CAT) is crucial for compliance, and the IT Regulatory Compliance group always likes to cover it. Since the 2015 release of the CAT, I have noticed a trend that I believe is worth sharing. I have spoken with financial institutions (FIs) that have recently experienced personnel changes – such as new Network Administrators or new Information Security Officers. I like to ask if the new contact knows that the CAT has been updated, and often the answer is no. Or, as is often the case with the shuffle of personnel, the new hire does not know where to even find the most recent CAT, much less know whether it has been updated.

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Topics: Cybersecurity, compliance, Regulatory Compliance, banking

Mobile Wallets: Where are we Now?

Posted by Jennifer Geis

Jan 2, 2019 11:00:00 AM

 

Big Hype Low Volume

The biggest names in Fintech, such as Google, Apple, and Samsung, have invested millions of dollars in mobile wallet technology. Big Banks like Citi, Bank of America, and Chase have followed suit. Yet if we look at the mobile wallet market today, usage has been meniscal, and adoption has been slow. After years of disappointing wallet growth, mobile wallet providers are desperate to make their investments pay off as even more competitors are entering the field fighting for market share. Which mobile wallets are ahead of the pack?

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Topics: banks, Credit Unions, digital banking, Mobile Banking, P2P, digital commerce, Cybersecurity, cards, digital survival, Payments

Holiday Shopping Safety

Posted by Strategically Speaking

Nov 14, 2018 11:00:00 AM

Naughty or nice! A perfect holiday line to summarize what cardholders, financial institutions, and merchants wonder about each credit and debit card transaction this time of year.

We know once fall arrives that the holiday season is close behind. Physical stores and online sites begin promotions and holiday décor early, well before Thanksgiving arrives. Consumers start shopping early. We move fast. Fraudsters count on that.

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Topics: retail, financial institution, Cybersecurity, Information Security, credit cards, Thanksgiving, Christmas, cyber monday

Top Employee Cybersecurity Training Pitfalls to Avoid

Posted by Karen Crumbley

Oct 15, 2018 11:00:00 AM

A common approach for planning your employee cybersecurity awareness training is to forge ahead, complete it, and remove it from the checklist of “to do” items. Yet any Information Security Officer (ISO) will tell you that their goal for employee cybersecurity awareness training is to have a well-informed staff that is equipped to mitigate fraud.

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Topics: Cybersecurity, Gladiator, Cyberaware, cybersecurity awareness, awareness, banks, IT, Credit Unions

Data Encryption Overview - Is It Secret, Is It Safe?

Posted by Robert Hudecek

Sep 19, 2018 11:00:00 AM

The New York State Department of Financial Services (DFS) cybersecurity requirements for financial services companies went into effect on Septembers 4 of this year. On the surface, it may look like these regulations only pertain to the state of New York – but in reality, they include any party who processes or is otherwise permitted access to Nonpublic Information of New York State origin. Simply put, if your financial institution does work for any New York resident, you may now be subject to this regulation.

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Topics: Cybersecurity, Regulatory Compliance, banking, Credit Unions, banks, data encryption, Data

A Fresh Take on Preparedness for the C-Suite and IT Managers

Posted by Eric Flick

Sep 12, 2018 11:00:00 AM

 

September is National Preparedness Month. Historically, this month has been promoted to bring focus to readiness for natural disasters such as hurricanes, tornadoes, and flooding. As we head into the peak of the Atlantic hurricane season, wildfires and flash flooding have captured the headlines.

In today’s threat landscape, any financial institution (FI) likely has a higher probability of a cyber event than a naturally occurring disaster – so it’s no coincidence that October is National Cyber Security Awareness Month. As responsible C-Suite and IT representatives, we recognize our responsibility to our FI and our customers to be prepared for both!

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Topics: disaster recovery, Cybersecurity, FI, financial institution, banking, Credit Unions, banks, Regulatory Compliance, IT

Are You Ignoring Your Core?

Posted by Pete Major

Jun 20, 2018 11:00:00 AM

 

All systems require some type of regular investment (time, money, sweat, and maybe even some tears) and this is particularly true for your core system. Whether you use a service bureau or you have an in-house system, it’s easy to think that once you convert to a new system your job is done. But with any system, it’s important that you stay up to date. Things are changing at a dizzying pace in this industry and your financial institution (FI) needs to stay at the forefront. Here are some tips and tricks to help you stay current with your core.

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Topics: Core, technology, banking, software, Information Security, Cybersecurity, Risk Mitigation, financial institution

Saving Your Data Means Saving Your Customers

Posted by Eric Flick

Apr 18, 2018 11:00:00 AM

 

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Topics: Business Continuity, Data Management, Cybersecurity, Customer Experience, disaster recovery

So Long, Farewell Signatures

Posted by Keri Crane

Apr 4, 2018 11:00:00 AM

 

Effective April 2018, all major card brands including American Express, Discover, Mastercard, and Visa will modify requirements to allow U.S. merchants the discretion to choose whether to prompt for a cardholder’s signature on a transaction receipt or electronic reader. This is true for both credit and debit cards in a face-to-face transaction environment. This change is not expected to alter risk or add to fraud losses, as merchants and card issuers increasingly rely on EMV chips, tokens, biometrics, and other security tools available today.

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Topics: American Express, Visa, Discover, Mastercard, Cybersecurity, biometrics

The Face of the Future?

Posted by Kevin Moland

Feb 21, 2018 12:30:00 PM

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Shortly after Christmas, I made my semi-annual pilgrimage to the AT&T store to pick up a new phone. As an early adopter of the original iPhone®, I’ve stayed with iOS devices over the years, but I know other manufacturers are producing amazing phones of their own. (This article is not about iPhones, it’s about the technological evolution of user authentication and what that means for financial services. If you’re not an iPhone user, this article is still for you!)

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Topics: Cybersecurity

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