Tag Archives: cloud for financial services

3 Steps Your Wealth Management Firm Can Take to Protect its Data

Relocating to the Cloud offers remarkable perks for Financial and CPA firms that range coming from lesser IT costs, to real-time accessibility, to your customer tax information and even more dependability in regards to uptime. However, records in the Cloud are also susceptible to safety and security hazards similar to data stashed on physical servers. […]

How Do You Make Regulatory Reporting Easier for Financial Institutions?

How Do You Make Regulatory Reporting Easier for Financial Institutions? Financial institutions around the world are subjected to strict scrutiny to combat money laundering, tax evasion, fraud, terrorist financing, and other illegal activities. Complying with the standards set by regulatory bodies comes with its own costs, a burden that financial firms have to shoulder. It’s […]

How the Cloud Keeps Data Safe for Financial Firms

A 2019 Global Wealth Study by Boston Consulting group reported financial services firms are hit by cyberattacks 300 times more than other companies. Financial institutions have a lot of sensitive data cybercriminals can monetize if accessed. That is why the financial services industry is so heavily regulated. The US has experienced huge breaches of consumer […]

8,000 Emergency Loan Applicants Affected by Data Breach

The SBA Was Breached 8,000 small business owners who applied for loans from the Small Business Administration potentially had their personal information exposed last month, admits the agency. The Economic Injury Disaster Loan program (EIDL) offers up to $10,000 to owners currently struggling with their businesses due to the COVID-19 pandemic. Who Is Affected? The […]

How Financial Firms Can Digitize & Stay Competitive

Financial organizations are using financial cloud computing technologies to remain competitive as new research reveals banking and finance are becoming more dependent on emerging technology.   In the old days, the cloud technology was adopted by small start-ups who didn’t have legacy architecture in place or the resources necessary to develop their own onsite IT. Now, […]

Ransomware Attacks & Financial Firms

Ransomware Attack On Texas Tuesday, August 20, 2019 a ransomware attack took place in 22 municipalities in Texas. Computer systems were hacked and held for ransom in a widespread ransomware strike. The cities of Borger and Keene were among those affected. Borger residents couldn’t access birth certificates or pay their utility bills. Ransomware attacks are […]

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