Top 4 cybersecurity headaches plaguing Financial Services Institutions

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Most Financial Services Institutions (FSIs) have digital technology at their core. And a primary responsibility for most FSIs is “cyber-connect” customers – be they organizations or individuals – with their money simply and seamlessly.

FSIs need to counterbalance these speedy, frictionless transactional experiences against the thousand-pound gorilla in the room, a.k.a: cybersecurity risk.

This Deloitte article in the Wall Street Journal distills the problem well: “Amid the massive technological transformation now underway in financial services, companies are being asked to become ...

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NYDFS propose new cybersecurity regulations, effective Jan 1 2017. Here’s what you need to know

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Last month, the New York State Department of Financial Services (NYDFS) put forward a proposed regulation designed to impose new rigorous cybersecurity requirements on banks, consumer lenders, money transmitters, insurance companies as well as some financial service providers in New York State.

The State has indicated that securing both New York’s financial services firms and its consumers is the main priority. The aim is to lower the risk posture in light of ...

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