Tech Talk: Pay-by-Bank, cloud-based finance, AI AML, and more!

• Mobile Wallets: Bill pay power tool
• AI anti-money laundering solution
• iPhone Generation killing the corporate check
• Banks must raise their game in fraud
• Pay-by-Bank rewards programs
• Leveraging modern cloud security tools
• Oracle intros cloud-based finance, risk management
• OCC: AI offers banks benefits and risks
• How are banks automating or failing to automate?
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Mobile Wallets: Bill pay power tool
The study found that consumers “who used a mobile wallet to pay a bill on the due date and those who used one when running late on payments reported higher satisfaction levels than the average mobile wallet bill pay user. Satisfaction is highest among frequent users who have tapped into a mobile wallet bill pay superpower: the ability to consolidate bills and pay them in one place. PYMNTS.com has the details.

AI anti-money laundering solution
Google Cloud has unveiled its Anti Money Laundering AI to help financial institutions detect money laundering. The solution is designed to replace legacy AML monitoring products, which rely on manually defined rules which criminals can get around. ATM Marketplace has the details.

iPhone Generation killing the corporate check
The historically manual nature of accounts payable (AP) payments is holding back progress across industries. It ties up funds in largely legacy processes, including the nigh-unsinkable iceberg of B2B paper checks. That is changing. PYMNTS.com has the details.

Banks must raise their game in fraud
Banks are meeting their anti-fraud responsibilities by investing heavily in techniques to keep up with the fast-evolving practices of online fraudsters, but they are finding it hard to keep up with the rapidly evolving challenge. The report shows that while digital-only banks facilitate financial inclusion for millions of customers who have been traditionally unable to open a bank account, fraudsters are finding new digital ways in which to exploit weaknesses. The Banker has the details.

Pay-by-Bank rewards programs
Driven as they are by payment choice, many consumers like the idea of account-to-account (A2A) transfers, known by several other names including pay by bank — but what’s missing is a rewards component that stands to drive greater adoption of this payment method. PYMNTS.com has the details.

Leveraging modern cloud security tools
Even with rapid security advancements made by cloud providers over the past decade, the risk of a data breach or failure to meet regulations is still a major concern for financial institutions. That's where cloud security tools come in. CIO Dive has the details.

Oracle intros cloud-based finance, risk management solutions
Oracle has released cloud-native services to help banks handle finance and risk management. The four solutions offer profitability management, customer analytics, funds transfer pricing, asset liability management and cashflow forecasting, according to a press release. With these solutions, banks can make data-driven decisions and adjust their risk management strategies. They can run by themselves or work together with other applications via APIs and a data layer. ATM Marketplace has the details.

OCC: AI offers banks benefits and risks
For Michael J. Hsu, the acting U.S. Comptroller of the Currency, the potential benefits of using widespread artificial intelligence (AI) in banking “are significant.” But so too are the risks, he said Friday (June 16) in a speech at the American Bankers Association’s Risk and Compliance Conference. PYMNTS.com has the details.

How are banks automating or failing to automate?
Banks are typically seen as traditional organizations; however, many are embracing automation to improve efficiency and meet customer needs. That being said, there are still barriers to a full embrace of the technology. ATM Marketplace has the details.

Spams, Scams, and Breaches

• ATM Marketplace: Scammers use bitcoin ATM to steal $30K from woman
• SecurityWeek: Australian Government Says Its Data Was Stolen in Law Firm Ransomware Attack
• Dark Reading: Rorschach Ransomware: What You Need to Know
• SecurityWeek: Ransomware Gang Takes Credit for February Reddit Hack
• Dark Reading: Fresh Ransomware Gangs Emerge as Market Leaders Decline
• SecurityWeek: Microsoft Outs New Russian APT Linked to Wiper Attacks in Ukraine
• CNN Business: Hackers threaten to leak stolen Reddit data if company doesn't pay $4.5 million and change controversial pricing policy
• SecurityWeek: A Russian Ransomware Gang Breaches the Energy Department and Other Federal Agencies
• TechCrunch: US confirms federal agencies hit by MOVEit breach, as hackers list more victims
• CNN Business: Clop ransomware: What to know about a cybersecurity attack hitting schools, businesses and government agencies
• SecurityWeek: Fake Security Researcher Accounts Pushing Malware Disguised as Zero-Day Exploits
• Tech Republic: AI vs AI: Next front in phishing wars
• SecurityWeek: Ransomware Group Starts Naming Victims of MOVEit Zero-Day Attacks

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• Dark Reading: Patch Now: Cisco AnyConnect Bug Exploit Released in the Wild
• SecurityWeek: Chrome and Its Vulnerabilities - Is the Web Browser Safe to Use?
• Naked Security: Apple patch fixes zero-day kernel hole reported by Kaspersky – update now!
• Dark Reading: 2 More Apple Zero-Days Exploited in Ongoing iOS Spy Campaign
• SecurityWeek: VMware Confirms Live Exploits Hitting Just-Patched Security Flaw
• Computerworld: With one June Patch Tuesday update, Microsoft falls short
• SecurityWeek: Researchers Flag Account Takeover Flaw in Microsoft Azure AD OAuth Apps
• Help Net Security: Zyxel patches critical vulnerability in NAS devices (CVE-2023-27992)
• SecurityWeek: OT:Icefall: Vulnerabilities Identified in Wago Controllers
• CISA: Cisco Releases Security Advisories for Multiple Products
• SecurityWeek: MOVEit Customers Urged to Patch Third Critical Vulnerability
• CISA: Fortinet Releases June 2023 Vulnerability Advisories
• SecurityWeek: Western Digital Blocks Unpatched Devices From Cloud Services
• CISA: Microsoft Releases June 2023 Security Updates
• SecurityWeek: Asus Patches Highly Critical WiFi Router Flaws
• CISA: Adobe Releases Security Updates for Multiple Products
• Dark Reading: Third MOVEit Transfer Vulnerability Disclosed by Progress Software
• Computerworld: June's Patch Tuesday updates focus on Windows, Office

See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

And on the lighter side...

Humor helps these community bank ads stand out. Read the article and watch all the videos.