Analysis


Banks’ cyber resilience requires ongoing review against escalating threats

The news last month (June) that the Luuuk malware had snared its first victim, an unnamed European bank, has again highlighted the magnitude of the challenge facing the banking sector. While the reported theft of €500,000 during the course of a week certainly does not break any records, the discovery of what is believed to be a variant of the feared Zeus malware, is just the latest in a line of increasingly sophisticated cyber attacks

HCE and NFC: threat or opportunity?

Mobile NFC services continued to expand in 2013 but the big question is, will this be amplified or disrupted by the introduction of host-based card emulation (HCE) into mainstream operating systems?

Canadian Gov’t Gauges Interest in Prepaid for Federal Benefits (July 14, 2014)

With the Canadian government planning to phase out paper checks by 2016 for federal benefits recipients, half of Canadians who are unwilling to use direct deposit would be willing to try receiving their benefits on a reloadable prepaid card, according to a public opinion report released earlier this year and commissioned by the Public Works and Government Services Canada (PWGSC).

New legs for legacy systems

Unlike manufacturing companies, which run their operations on a single predominant ERP system supported by a few auxiliary solutions, banks have added layer upon layer of technology, ending up with an unmanageable snarl of systems and applications. Just to put things in perspective, it is estimated that on average global banks have more than 5,000 applications.

Know thine algo: how to define it, prove it, tame it. Part 1

Regulators across the globe appear divided on the question of whether tighter control of algorithmic trading is necessary: the Australians are pretty laid back about it, the Germans are ahead of the game, while political debate rages in the US …