US Treasury Report Urges Banks to Strengthen Risk Management Against AI-Powered Threats
A report issued by the US Treasury has emphasized the imperative for banks to enhance their risk management frameworks to mitigate the growing threat posed by AI-driven fraudsters and cybercriminals.
AXA and AWS to build B2B risk management platform
Source: AXA
A worldwide leader in insurance and asset management, AXA and AWS (Amazon Web Services) an Amazon.com, Inc. company (NASDAQ: AMZN), announced their intention to jointly develop and build AXA Digital Commercial Platform (DCP) and associated software services to enable next-generation risk management.
FIS opens applications for 2024 fintecch accelerator
Source: FIS
Global financial technology leader FIS® (NYSE: FIS) has today announced that applications are open for the FIS Fintech Accelerator 2024, its flagship program that supports fintech innovation and growth.
ECB Urges Banks to Enhance Outsourcing Risk Management Amid Growing Concerns
The European Central Bank (ECB) is cautioning banks about the need to enhance their management of outsourcing risks, particularly concerning the processing of personal data.
MAS Advises Financial Institutions to Brace for Quantum Computing Cybersecurity Challenge
The Monetary Authority of Singapore (MAS) has issued a directive to the country's financial institutions, urging them to ready themselves for the increasing cybersecurity threats posed by quantum computing.
Cybersecurity remains number one risk for global banks
Source: EY
Amid unprecedented levels of volatility and global uncertainty, cybersecurity has remained at the top of the list of near-term risks for banks around the world for the second consecutive year, according to the latest EY and Institute of International Finance (IIF) bank risk management survey.
ECB Warns of Transition Risks in Banks' Shift to Low-Carbon Economy
The European Central Bank (ECB) has issued a warning regarding the significant transition risks faced by banks that are unprepared for the shift towards a low-carbon economy.
BaFin Report Highlights Cybersecurity and IT Outsourcing Risks in German Financial Sector
A recent report from German regulator BaFin underscores cybersecurity and the outsourcing of IT services as major threats to the financial sector.
