December 20186According to a report from Accenture and Ponemon Institute, the U.S. Treasury views cyberattacks as one of the key threats to U.S. financial stability. Financial services firms including banks fall victim to cyber attacks 300 times more frequently than businesses in other industries. Fraudsters intrude and cheat banks and their customers, by illegally accessing and using their assets, such as PII and funds. As a result, strong banking security is imperative to safeguarding banking assets. However, technology has become a double edged sword. On one hand, it has enabled banks to perform efficiently, serve their customers better, introduce new services, and enhance profitability. On the other hand, it has also paved the way for the evolution of cyber crime and heightened the threat of cyberattacks with cybercriminals growing increasingly sophisticated and technologically developed. Banking security solution providers are intelligently leveraging the influx of banking technology trends such as open banking, the cloud, AI, blockchain, and digital banking services to fortify banking security. The solution providers are enabling the banking industry to mitigate the risk of cyber attacks such as denial of services, phishing, social engineering attacks, synthetic identity fraud, and other threats. Also, security awareness is being included in employee training helping investors gauge risks more efficiently. Beyond mitigating losses from fraud, banks are gradually embracing security enhancements from solution providers for the fraud-free, fast, and friendly customer experience it generates.Our goal with this special edition is to highlight the best-of-breed banking security solution providers that leverage innovative technologies to ensure secure banking and enhance customer experience. The current edition has explored a plethora of solution providers, changing trends, needs of the hour and indicators of how the future of banking security would turn out to be. We hope the valuable insights from industry thought-leaders and the innovative solutions from leading as well as emerging companies featured in this edition will help you in making informed decisions for your banking security.Write us your thoughts.Copyright © 2018 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 03 - 2018Contact Us:Phone:510-556-2284Fax:510-894-8405Email:sales@bankingciooutlook.comeditor@bankingciooutlook.commarketing@bankingciooutlook.com DECEMBER - 03 - 2018, Volume 04 - 10 Published by ValleyMedia, Inc. To subscribe to Banking CIO OutlookVisit www.bankingciooutlook.com Editorial StaffSalesSECURITY SPECIALJennifer Stephenjennifer.stephen@bankingciooutlook.comVisualizerAjay K DasIssac GeorgeManaging EditorJames RobertsonCreating Safe Banking EnvironmentJames RobertsonManaging Editor editor@bankingciooutlook.comDan Stanley Justin SmithJoseph MichaelEditorialKenneth ThomasRussell ThomasVinutha Dayanand*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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