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The rapid shift to digital by established banks in Apac is outpacing their capacity to adequately protect themselves from emergent cyber threats, according to analysis by the Financial Services Information Sharing and Analysis Center (FS-Isac).

BNY Mellon has launched an ISO 20022 Hub to help clients and other financial institutions to manage the transtion to the new payment standard.

Shares in Robinhood have taken a dip after the retail stockbroking platform revealed that five million customer e-mail addresses were lifted from its servers during a social engineering hack.

Source: Fintech Saudi

Over the last 12 months, the fintech industry in Saudi Arabia has continued to grow at a rapid pace as stated in the recent Fintech Saudi Annual Report 2020/2021. The number of Saudi fintech companies operating in the Kingdom rose dramatically by 37% with an investment amount exceeding SAR 1.3bn (USD 347m).

Global investment in fintech bounced back strongly in the first half of 2021, hitting $98 billion with a record number of deals, according to KPMG.

Morgan Stanley says the personal information of stock plan participants has been stolen after a third-party vendor suffered a data breach thanks to a vulnerability with file sharing software from vendor Accellion.

Source: European Commission

The Commission is today laying out a vision to build a new Joint Cyber Unit to tackle the rising number of serious cyber incidents impacting public services, as well as the life of businesses and citizens across the European Union.

The Hong Kong Monetary Authority (HKMA) is to establish a new Fintech Cross-Agency Co-ordination Group to formulate supportive policies for the local fintech ecosystem.

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