Synechron Inc., the digital, business consulting and technology services provider, today reveals 89% of senior executives questioned in a survey conducted by TABB Group believe blockchain will be in everyday use in the financial services industry by 2026. The results suggest that despite various levels of action on blockchain initiatives, the majority of financial services organizations believe in the long-term, innovative potential of blockchain and are merely calculating how to take action factoring in business unit, use case and resources to achieve maximum business value.
Kroll Ontrack today published the results of its Data Loss Index (DLI) which summarises data loss causes captured through its free and anonymous Self-Assessment Tool. During the period of October to December 2016, Kroll Ontrack received 1,348 entries from 43 countries. By far the most identified culprit of data loss (nearly 36 per cent) was undetected storage media, with dropped devices the second most popular reason (almost 13 per cent) and the device was not powering up taking just under 10 per cent of entries.
Hitachi Payment Systems has admitted culpability for a breach of its ATM network in India that spawned a massive recall of debit cards by the nation's banks.
Bank regulatory bodies need to co-ordinate their strategies for dealing with emerging financial technology at a global level, says a new report from International Organization of Securities Commissions (Iosco).
A Brooklyn man has pleaded guilty to running an unlicensed money transmission business to launder the proceeds from a malware attack that successfully pilfered $1.2 million from customer bank accounts.
Fintech firms should welcome, not fear, regulation because it is in their interest to have an "established framework" in which to operate, says the president of the Federal Reserve Bank of Philadelphia.
Overall global VC investment for financial technology (FinTech) increased by 10.9 % to $17.4 billion in 2016 with 1,436 deals in total according to statistics compiled through PitchBook by Innovate Finance, the not-for-profit membership association for global FinTech. This level of funding surpassed the 2015 total of $15.6 billion.