TaskUs’ Post

When considering financial institutions, the rate of interest you’ll earn on your money can be a driving motivation in where you deposit your assets, but it is only part of the equation. The product offerings, branch network and digital platform should suit your needs & lifestyle—but it is also wise to consider the quality of the firm’s advice and services, its commitment to cybersecurity and the strength of its balance sheet.

Real-time payments have revolutionised finance, but their future demands serious consideration. The attached is an interesting exploration of the nuances of mainstream adoption and the need for robust fraud prevention. While real-time payments offer innovative solutions across industries, vigilance against fraud remains a priority. As market demand grows, so too does the imperative for continuous innovation and security enhancement. Given the rapid evolution of real-time payments, what do you see as the biggest hurdle to widespread adoption in our industry? 💬 #Payments #CyberSecurity #Fraud

Westpac to cut tech stack in size by two-thirds and focuses on technology simplification. Westpac is cutting its #technology stack in size by two-thirds under its latest strategic plan to “radically simplify the bank” as it aims to fast-track ambitions to simplify its processes and technology. In its 2023 full-year results, Westpac said it intends to continue simplification by slimming its technology stack, with the expectation this will lead to streamlined customer service, origination channels and products. To achieve this, part of Westpac’s approximate $2 billion investment spend across the past four years will cover its technology simplification plans. #tech #it #techstack #cyber #banking #cybersecurity #infosec #itsecurity

Protect your debit card and keep your financial information secure with these 8 best practices. Avoid using public Wi-Fi, use fake answers for security questions, and review your bank statements often. Find more ways to protect yourself in this article: https://brev.is/uMGW4

Did you know the FTC has updated its Safeguards Rule under the Gramm-Leach-Bliley Act? To ensure compliance, financial institutions need to develop comprehensive security programs to protect customer information and report security breaches. In this blog post, Antoine Boucher outlines the changes made, who’s affected, and what financial institutions and fintechs need to incorporate into their security training programs: 🔗 https://lnkd.in/gyUs_qpg #fintech #financialinstitutions #safeguardsrule #GLBA #compliance

Is there a false sense of security in the Canadian banking sector? A new class action filed by over 100 BMO customers seeks to put pressure on #financial institutions to protect consumers from sophisticated #cyber attacks, account take-overs (ATO) and unauthorized transfers. In the most recent post on the Bad Security Blog, I wrote about why this matters so much now. #openbanking #fintech #cyberfraud #privacy

Don’t fall victim to check fraud! In our latest blog post, we explore the vulnerabilities and dangers associated with traditional check payments. Checks may seem convenient, but they expose sensitive information, making them a prime target for fraud. In today's digital age, there are much more secure methods for making payments. Discover more by reading our blog: https://bit.ly/3vrSHJR

Did you know? - #5G offers several security advantages for financial institutions. It has anti-tracking & anti-spoofing features that make it more difficult for cybercriminals to intercept sensitive data, along with 256-bit encryption compared to 4G’s 128-bit standard —providing greater data security and protection. Not all connections are created equal. Ties into a good article I read below on Forbes. https://lnkd.in/eGAVj__t #digitaltransformation

In light of recent banking disruptions, it's vital to be proactive. Here's what you need to know: 1️⃣ Payment Redundancy is a MUST!: Make sure your #business is protected from a single system's failures. Shield your #financial well-being with diverse payment solutions. 2️⃣ It's Not Cybersecurity, It's Human Error! 🤖: The recent disruption was not a cyber-attack, but a result of human error. Stay vigilant, fortify your #payment systems, and safeguard your assets. 3️⃣ Swift & Secure Payments with Paystand: Choose a rock-solid alternative that guarantees rapid cash flow, ensuring your financial stability remains unwavering. Stay strong and secure with Paystand 💪💼🚀 https://hubs.la/Q028g_dJ0

Oppsense and Cyabra are committed to supporting the Canadian banking industry in maintaining a secure and trustworthy environment for customers. This strategic partnership underscores our dedication to staying ahead of the curve in the ever-evolving cybersecurity landscape. You can read our latest press release below. #canadianbusiness #canadianfinance #disinformation #banking #finance