January 22, 2021

Tech Talk Editor George Milner has compiled a summary of this week's tech and cybersecurity news:

  • The five p’s of banking
  • Innovative digital transformation strategies
  • How AI and ML will transform banking
  • Significant rise in DDoS attacks against banks
  • Technology and the ethical banking revolution
  • Financial services: Three new security strategies
  • Strengthening cybersecurity
  • Banks must lose their "legacy anchor"
  • Why mobile banking will thrive in 2021
  • Spam, Scams & Breaches
  • Updates, Patches & Alerts
  • and on the lighter side...
For more information, including a direct link to the source articles, visit the Tech Talk page on BankersOnline.com.

The five p’s of banking
Since the birth of formal banking, banks have relied on the "five ps" people, physical cash, premises, processes, and paper. However, in the digital era, banking can be done on the internet, hiding bankers and bank tellers from the customer, who no longer even needs to visit a branch. Where will this lead? Get the details at: Tech Talk.

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Innovative digital transformation strategies
It seems like most organizations are experimenting with digital strategies, looking for "the next big thing." So, what can you do to identify your differentiation and convert it to your digital advantage? Get the details at: Tech Talk.

How AI and ML will transform banking
Artificial intelligence and machine learning remain the hottest topic in the financial world for the past few years. By adopting smart solutions, companies get a huge competitive advantage to cope with the changing industry landscape. What are you doing? Get the details at: Tech Talk.

Significant rise in DDoS attacks against banks
Unlike the modern roaring twenties that many were hoping for, the turn of the decade has brought an unfathomable number of challenges for businesses across the globe. In these times of uncertainty, cybercriminals take advantage, and 2020 was no exception. Get the details at: Tech Talk.

Technology and the ethical banking revolution
"Doing the right thing" is increasingly becoming a priority for banks. The survival of the economy and the banking sector are tightly intertwined. The banks that are having the most impact are often those deploying innovative technology as an enabler to bring their intentions, decisions and actions to life and make customer-centered, purpose-driven, ethical and sustainable business models a reality. Get the details at: Tech Talk.

Three new security strategies for financial services
Financial institutions are known for having the most robust security measures of any industry. Still, a recent survey found that 68% of banking and financial executives are concerned their distributed workforces have introduced new risks. This is higher than in any other sector. Here are three strategies to check out. FinTech Futures Get the details at: Tech Talk.

Strengthen cybersecurity with SWIFT's CSCF v2021
SWIFT is the world's largest provider of secure financial messaging services to banks and other financial institutions. The growing number of fraud instances over the last few years within SWIFT customers' local environments indicates the necessity for industry-wide collaboration among financial institutions to protect their organizations against persistent threats. Here are some steps you need to take by mid-2021. Get the details at: Tech Talk.

Banks must lose their "legacy anchor"
COVID-19 has become a catalyst for an acceleration amongst the everyday banking customer. Data shows 71% of US banking customers now regularly use online banking. Customers expect a much different service in 2021. Is your institution positioned to provide it? Get the details at: Tech Talk.

Why mobile banking will thrive in 2021
Demand for digital banking services, already rising steeply before the COVID-19 pandemic set in last year, was given even greater impetus during 2020. Make sure your institution is keeping up. Get the details at: Tech Talk.









See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

On the lighter side...

There are lots of high-tech ways to keep your passwords safe. Ellen highlights a low-tech solution (and suggest some improvements). Password Manager



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