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Copilot: an indispensable tool for banking security teams

CIO

The threat to banks from cyber crime is becoming increasingly complex, as state actors and criminal gangs become more adept at targeting vulnerabilities. A report by the Bank for International Settlements singled out the growth of cloud-based services and remote working as two of the primary drivers behind the heightened risk.

Banking 629
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Customer centricity: How Mashreq Bank is placing its customers at the forefront of its operations.

CIO

Mohamed Salah Abdel Hamid Abdel Razek, Senior Executive Vice President and Group Head of Tech, Transformation & Information, Mashreq explains how the bank is integrating advanced technologies and expanding its digital footprint. This approach has significantly enhanced the customer banking experience.

Banking 746
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Why PCI compliance matters more than ever in the financial sector

CIO

Financial institutions, like banks and lenders, can now collect, store, and analyze more data than ever, thanks to advancements in cloud computing and data management technologies. According to the International Monetary Fund’s 2024 Global Financial Stability Report , one-fifth of all cyberattacks are against the financial sector.

Finance 584
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Counting the cost of CrowdStrike: the bug that bit billions

CIO

Parametrix, known for its cloud monitoring and insurance solutions, has pegged the total loss for the 25% of Fortune 500 companies affected (excluding Microsoft) at a staggering $5.4 Costs most likely come from loss of trading due to unavailability of systems,” said Duncan Brown, group vice president, research at IDC said.

Airline 732
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INE Security Alert: The Steep Cost of Neglecting Cybersecurity Training

CIO

INE Security , a global leader in cybersecurity training and certifications, is exploring how overlooking this critical aspect of organizational strategy can lead to a financial crisis and laying out five key reasons why cybersecurity training is important. The average cost of a data breach ballooned to $4.88 million more in beach costs.

Security 747
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The evolving role of security and IT in DR and incident response

CIO

According to an IDC Survey, “Ransomware attackers are getting more effective at finding valuable data; half of North American ransomware attacks where data was exfiltrated included the loss of valuable, sensitive, or security data ( Future Enterprise Resiliency and Spending Survey, Wave 11 , IDC 2023).

Security 652
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The new CIO mandate: Selling AI to employees

CIO

But 45% also said they feared that AI will make their work less relevant to their employers, and 43% said they fear the loss of their jobs due to AI. Still, a report surfaced earlier this month that global banks and investment firms are examining the possibility of replacing entry-level financial analyst positions with AI.

Loss 841