Tech Talk: Neobanks, digital solutions, generative AI, and more!

• Rise of AI-powered deepfake imposter scams
• Why do neobanks fail?
• What self-service retail is teaching banks
• How digital solutions reshape credit behavior
• Which areas of fintech are most at risk
• Credit unions as online ‘influencers’
• FIs grapple with a rise in fraudulent transactions
• Generative AI in banking and finance
• Consumers love mobile wallet bill pay but not the fees
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Rise of AI-powered deepfake imposter scams
Deepfake technology, powered by artificial intelligence (AI), is reportedly becoming a favored tool for criminals engaged in imposter scams, posing a significant threat to individuals and the banking industry. PYMNTS.com has the details.

Why do neobanks fail?
While these digital banks aim to serve specific customer segments or niches, a lack of deep insight into their target markets can lead to misalignment between offerings and customer needs. Finextra has the details.

What self-service retail is teaching banks
The global shift to eCommerce brought with it heightened customer demands for speed, convenience and payments flexibility, and consumers maintained these requirements as they returned to shopping in physical stores. PYMNTS.com has the details.

How digital solutions reshape credit behavior
In today’s fast-paced world, consumers are constantly seeking ways to manage their cash flow in a predictable and efficient manner — and this desire for certainty extends to their purchasing habits. PYMNTS.com has the details.

Which areas of fintech are most at risk
Fintechs are having to navigate turbulent waters in the current economic climate. FinTech Futures asks three veteran fintech investors which areas are currently most vulnerable. Fintech Futures has the details.

Credit unions as online ‘influencers’
The credit unions that get it right, that offer tailored, personalized financial wellness programs for those digitally savvy consumers, will be rewarded with loyalty, and many of these individuals will embrace these forward-thinking CUs as their primary financial services providers. has the details.

FIs grapple with a rise in fraudulent transactions
As noted in a PYMNTS and Featurespace collaboration, 200 executives working at financial institutions (FIs) with assets of at least $5 billion noted that fraud attacks are becoming more commonplace. has the details.

Generative AI in banking and finance
When coupled with informed data consent, Mastercard says that AI in financial services has the potential to “declutter and streamline” processes within areas such as taxation, property registration, and many more. has the details.

Consumers love mobile wallet bill pay but not the fees
Fifty-one percent of consumers who use mobile wallets to pay bills opt to do so via PayPal, making it the most popular method. However, the platform’s convenience, along with most other FinTech mobile wallets with bill pay options comes with a catch: fees. has the details.

Spams, Scams, and Breaches

• SecurityWeek: University of Minnesota Confirms Data Breach, Says Ransomware Not Involved
• Dark Reading: Phishing Attack Targets Hundreds of Zimbra Customers in 4 Continents
• Information Week: Tesla Insider Data Breach Exposed Over 75,000
• Dark Reading: Ransomware Reaches New Heights
• Help Net Security: Open redirect flaws increasingly exploited by phishers
• PYMNTS.com: Discord.io Shuts Down After Mass Data Breach
• Help Net Security: Phishers use QR codes to target companies in various industries
• Dark Reading: Tesla Data Breach Investigation Reveals Inside Job
• Help Net Security: Week in review: VPNs vulnerable to TunnelCrack attacks, Cybertech Africa 2023
• SecurityWeek: Ransomware Group Starts Leaking Data From Japanese Watchmaking Giant Seiko
• Help Net Security: Large-scale breaches overshadow decline in number of healthcare data incidents

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• SecurityWeek: FBI: Patches for Recent Barracuda ESG Zero-Day Ineffective
• CISA: Juniper Releases Security Advisory for Multiple Vulnerabilities in Junos OS
• SecurityWeek: Cisco Patches Vulnerabilities Exposing Switches, Firewalls to DoS Attacks
• Dark Reading: Threat Actor Exploits Zero-Day in WinRAR to Target Crypto Accounts
• Help Net Security: Citrix ShareFile vulnerability actively exploited (CVE-2023-24489)
• SecurityWeek: Jenkins Patches High-Severity Vulnerabilities in Multiple Plugins
• Dark Reading: Citrix ADC, Gateways Still Backdoored, Even After Being Patched
• Tech Republic: Akamai Report: LockBit, Cl0P Expand Ransomware Efforts
• SecurityWeek: Companies Respond to 'Downfall' Intel CPU Vulnerability
• Tech Republic: About 2000 Citrix NetScalers Were Compromised in Massive Attack Campaigns
• SecurityWeek: New 'Carderbee' APT Targeted Chinese Security Software in Supply Chain Attack
• Dark Reading: New NCUA Rule Requires Credit Unions to Report Cyberattacks Within 3 Days
• Dark Reading: More Than Half of Browser Extensions Pose Security Risks
• Tech Crunch: Ivanti warns customers another zero-day is under active attack
• Dark Reading: Adobe Patches Critical Deserialization Vulnerability, but Exploits Persist
• SecurityWeek: 3,000 Openfire Servers Exposed to Attacks Targeting Recent Vulnerability
• TechCrunch: Hackers exploit WinRAR zero-day bug to steal funds from broker accounts
• SecurityWeek: Exploitation of Ivanti Sentry Zero-Day Confirmed

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...

Recently, we've highlighted many amazing advances in robotics. Here's one from the 1970s. A robotic banker who also gives advice!