Nearly Eighty Percent of Financial Customer Accounts and Banks Affected by Recent Data Breaches
March 26, 2014 - Recent publicised data breaches are having an impact on the operations of financial institutions, according to a recent survey by ACI Worldwide (NASDAQ: ACIW). The survey of U.S.-based financial industry professionals was conducted in March 2014 at BAI Payments Connect and reports that 44 percent of customer accounts have been compromised.
PCI security vendor Trustwave named in Target breach suit
March 26, 2014 - PCI security vendor Trustwave has been accused of failing to detect vulnerabilities in Target's handling of credit card data ahead of last year's data breach, according to a law suit filed by Trustmark National Bank of New York and Green Bank of Houston.
Asset managers’ top priorities for 2014 revealed
March 26, 2014 - Attendees at Investit's 19th Intelligence Conference held on 12th March identified their key priorities for 2014. The conference focused on delivering Investit's industry leading research on Effective Change Management in Investment Management and the Current State of Automation in the Front and Middle Office.
California DMV probes card data breach
March 24, 2014 - The Californian Department of Motor Vehicles is investigating a potential security breach within its credit card processing services.
Application Support & Maintenance (ASM) Sucks Up 34% of Financial Sector IT Budgets
March 21, 2014 - New research released by HCL Technologies Ltd (HCL), a leading global IT services provider, has revealed that Application Support & Maintenance (ASM) now accounts for 34% of financial sector organizations' overall IT budget each year. The survey of 45 CIOs from the financial services sector further revealed that the cost of maintaining and supporting applications was increasing year on year for 87% of respondents, while over the last 12 months, financial sector organizations have on average seen a 27% increase in support tickets for ASM.
Bank IT spending to hit $100bn in 2018
March 19, 2014 - A new study conducted by Ovum has revealed that IT spending within the financial services sector is set to increase in the coming years, hitting the $100 billion mark in 2018.
US Treasury official explains cyber-security framework
March 19, 2014 - Good morning. Thank you for having me. I commend SIFMA on organizing this seminar dedicated to discussing President Obama's Executive Order 13636 and the cybersecurity framework published by the National Institute of Standards and Technology (NIST).
PwC Survey Finds Market Shifts and Business Transformation Are Exposing Companies to Critical Gaps in Risk Management
March 19, 2014 - Internal business changes intended to address dynamic market shifts have created a more complex risk landscape for businesses around the globe. Compounding this problem, according to the PwC USRisk in Review report, "Re-evaluating how your company addresses risk," is that traditional risk management systems have not evolved fast enough to monitor, track and manage today's intensified risk climate.
