Banks take steps to reduce potential cloud computing risks, Google survey
A survey by Harris Poll and Google Cloud stated that the Banks are taking steps to mitigate risks from their increasing use of external cloud computing services. The Bank of England and the Bank of France have expressed concerns about a lack of transparency in how banks rely on a concentrated number of outside cloud computing providers like Google, Microsoft […]
DeFi crime hits record high in first 7 months of 2021
Losses from theft, hacks, and fraud in decentralized finance or DeFi, a thriving segment in the cryptocurrency sector, hit an all-time high in the first seven months of the year is shown by a report from crypto intelligence company CipherTrace. But losses from crime in the overall cryptocurrency market dropped sharply to $681 million at […]
How financial institutions can protect against the cyberattacks
As banks were predominately where the money was, in our digital age, the modern criminal can steal vast quantities of money armed with little more than a laptop and an internet connection. The cybertheft market is now believed to be worth in excess of a trillion dollars globally. These types of crimes are safer, more lucrative, and thanks to the challenges with attribution, apprehension […]
UK’s financial watchdog goes real time to catch online criminals
Britain’s financial regulator has to make daily sweeps of the internet. This sweep is to warn about online scams in real time and keep pace with fraudsters who are often based outside the country. Mark Steward, the Financial Conduct Authority’s (FCA) director for enforcement, said that the warnings have become a cornerstone of the watchdog’s […]
Stanchart unit to launch cryptocurrency trading platform
A Standard Chartered PLC unit intends to establish a cryptocurrency brokerage and exchange platform in Britain and Europe. The bank said that this targets the institutional clients. The new exchange will be created by a joint venture between SC Ventures, the bank’s innovation arm, and BC Technology Group. This operates Hong Kong-licensed cryptocurrency exchange OSL. StanChart […]
BNY Mellon’s new solution leads the digital Bill-pay revolution
BNY Mellon has announced that it has launched a first-of-its-kind real-time electronic bill (e-bill) and payment solution. Displacing the inefficient and antiquated process historically used to handle the majority of the 15 billion bills paid in the U.S. annually. This pioneering capability enables U.S. businesses to present digital bills to their consumer clients in real-time […]
Fund managers see value, cyclical stocks running further despite slow US jobs recovery
Some technology stocks got a boost after a disappointing U.S. jobs report. Some portfolio managers say that blow-out earnings from several large technology companies over are not enough to keep making outsized bets on the sector. Instead, those fund managers say that they are continuing to rotate into value and cyclical stocks. But their fortune […]
Conpend’s TRADE AI app will help reduce risk and speed up trade finance transactions
A pan-African financial group has selected Conpend’s TRADE AI app from its open innovation platform, FusionFabric.cloud. Finastra has made an announcement regards this in Bank of Africa. The functionality of Finastra’s Fusion Trade Innovation technology has been extended by the app. This also enables the users to reduce document and compliance checking time. To reduce the risk and […]
Emerging FX Trading Engine opened by Deutsche Bank in Singapore
Deutsche Bank is a main German monetary administrations supplier. Its London-based worldwide FX valuing motor for developing business sectors is being supplanted. In the midst of a flood in exchanging exercises across the Asian district, it is developing business across Singapore. Singapore has been chosen by the bank to improve its request execution. This is […]
Future technological trends in the finance sector will be completely digital
There is a constant pressure to digitally transform in every nukes and corners of the modern working environment like using technology in the areas where manual work processes have been previously preferred. In spite of the gaining speed, the progress throughout the finance sector has been somewhat slower than that of other core areas of […]