Tech Talk: Voice analytics, APIs, leveraging AI, and more!

• Voice analytics offering for banks
• Banks shift from vulnerable channels like SMS
• How can banks use APIs?
• How banks are leveraging data & AI
• Create a mobile banking app in 3 months
• Settlement and security in the ATM space
• Unlocking the power of AI
• New digital account opening solution
• The ultimate weapon against financial fraud
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Voice analytics offering for banks
Financial institutions are turning to machine learning (ML) as a powerful tool for proactive fraud prevention. This article explores how ML is effectively combating fraud and why it surpasses human labor in this critical endeavor. Banking Dive has the details.

Banks shift from vulnerable channels like SMS
Galileo Technologies Chief Product Officer David Feuer told PYMNTS, "Other than multifactor authentication, messaging is a poor way of communicating anything secure with customers." PYMNTS.com has the details.

How can banks use APIs?
The emergence of open banking has led financial institutions to use the famous APIs. What for? To offer more services that were not offered before and to automate others. We will tell you what they are and what they are for. Finextra has the details.

How banks are leveraging data & AI
AI is not only capable of gleaning insights from customer interactions, it’s also capable of handling them altogether. Customer interactions are a growing opportunity area for generative AI in banking. And, generative AI can also be used in fraud prevention and detection and reporting applications, among many other use cases. Banking Dive has the details.

Create a mobile banking app in 3 months
Before creating a mobile banking app, you should know what features make it successful, how long the development process takes, and how much money it will cost. Finextra has the details.

Settlement and security in the ATM space
We all know that security and ATM go hand in hand. We are one of the only industries that leaves giant boxes of cash sitting on the street. In response, we are seeing some great innovations in the security space and the last few years have seen some fantastic advancements in hardware design and logical security. ATM Marketplace has the details.

Unlocking the power of AI
Creating a comprehensive list of AI use cases in the financial services industry is therefore imperative. In my opinion, we can categorize all AI use cases in the financial services industry into two main groups. Group 1 includes ore efficient handling of unstructured data and Group 2 involves better prediction and resource allocation. Finextra has the details.

New digital account opening solution
The Entrust Digital Account Opening solution enables banks and credit unions to onboard new customers from anywhere using their smartphones and government-issued IDs. PYMNTS.com has the details.

The ultimate weapon against financial fraud
The rise in fraudulent transactions is linked to multiple factors, notably the expanding volume of online transactions. This surge offers greater avenues for malicious entities to exploit businesses, payment systems, financial institutions, and consumers. To address these threats, financial institutions are turning to machine learning (ML) as a powerful tool for proactive fraud prevention. Finextra has the details.

Spams, Scams, and Breaches

• Dark Reading: Okta Breach Widens to Affect 100% of Customer Base
• Dark Reading: Cyberattack on Pennsylvania Water Authority Disrupts OT Gear
• Krebs on Security: ID Theft Service Resold Access to USInfoSearch Data
• Dark Reading: Egyptian E-Payment Vendor Recovering From LockBit Ransomware Attack
• Dark Reading: Fake Browser Updates Targeting Mac Systems With Infostealer
• SecurityWeek: Ardent Hospitals Diverting Patients Following Ransomware Attack
• Dark Reading: AutoZone Files MOVEit Data Breach Notice With State of Maine
• Dark Reading: Idaho National Nuclear Lab Targeted in Major Data Breach
• Dark Reading: General Electric, DARPA Hack Claims Raise National Security Concerns

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• SecurityWeek: Apple Patches WebKit Flaws Exploited on Older iPhones
• PCWorld: Update Chrome now or your PC will explode (again)
• SecurityWeek: Major Security Flaws in Zyxel Firewalls, Access Points, NAS Devices
• Dark Reading: Patch Now: Attackers Pummel Critical, Easy-to-Exploit OwnCloud Flaw
• Help Net Security: PoCs for critical Arcserve UDP vulnerabilities released
• Dark Reading: Kinsing Cyberattackers Target Apache ActiveMQ Flaw to Mine Crypto
• SecurityWeek: Google Patches Seventh Chrome Zero-Day of 2023
• Dark Reading: macOS Malware Mix & Match: North Korean APTs Stir Up Fresh Attacks
• SecurityWeek: CitrixBleed Vulnerability Exploitation Suspected in Toyota Ransomware Attack
• Dark Reading: Exploit for Critical Windows Defender Bypass Goes Public
• CISA: #StopRansomware: LockBit 3.0 Ransomware Affiliates Exploit CVE 2023-4966 Citrix Bleed Vulnerability
• Help Net Security: PoC for Splunk Enterprise RCE flaw released (CVE-2023-46214)
• Dark Reading: Unpatched Critical Vulnerabilities Open AI Models to Takeover
• SecurityWeek: Critical Vulnerability Found in Ray AI Framework

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...

The Three Stooges with a helpful explanation of how the banking system works.