Trusted Computing Group (TCG) announced its commitment to strengthening the financial services industry against attack, as worldwide banking institution, Goldman Sachs, joins TCG in the fight for cybersecurity.
How is the current COVID-19 pandemic affecting fraud levels, and what can firms do to protect their employees and customers? Below, we talk to Omri Kletter, VP, Cyber Crime and Fraud Management at Bottomline, about best practices for managing risk and cyber threats in the payments process more broadly.
Financial services institutions and banks around the globe face monumental challenges as they look to streamline service delivery for customer transactions, manage multi-party loan processes, collaborate on industry benchmarks and indices, and eliminate fraud and cybercrime. Historically the market has primarily relied upon manual approaches for sharing and managing transaction data. But advances in confidential computing (sometimes called CC or trusted computing), combined with federated machine learning (FML), are helping financial organizations better share data and outcomes, while alleviating many privacy and security concerns.
Security teams in the financial services sector are experiencing even more exacting demands as they defend their organizations in a world under a new and unexpected threat — a global pandemic, says a new Accenture report, "2020 Future Cyber Threats: The latest extreme but plausible threat scenarios in financial services."