Tech Talk: AI-enabled banking, FedNow, BaaS, and more!

• OCC: AI in banking is emerging risk
• A Deep Dive into Matching and Reconciliation
• Gen Z interested in AI-enabled banking
• Is human-less banking backfiring?
• Millennials want more visible security
• Cybersecurity Insurance: Once optional, now essential
• FedNow is ‘doing what it was planned to do’
• Deep Dive: Beyond the basics of BaaS
• The embedded finance opportunity for software platforms
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

OCC: AI in banking is emerging risk
While the adoption of AI offers significant benefits, such as cost reduction, efficiency improvement and expanded access to credit and banking services, widespread adoption may also present challenges related to compliance risk, credit risk, reputation risk and operational risk. PYMNTS.com has the details.

A Deep Dive into Matching and Reconciliation
Matching in financial services is a multifaceted challenge, but understanding its fundamental steps is key to improving outcomes. While tools like Excel offer temporary solutions, the future lies in intelligent automation, which can significantly streamline these processes. Finextra has the details.

Gen Z interested in AI-enabled banking
Interest in AI-enabled shopping and banking services is growing among consumers, with approximately 4 in 10 expressing interest. This interest is driven by consumers’ increasing familiarity with AI and its integration into their daily lives. PYMNTS.com has the details.

Is human-less banking backfiring?
Advances in AI, machine learning, and data analytics also enable banks to offer more sophisticated digital services, including fraud detection and personalized recommendations. However, our data revealed that 74% said they felt their banking “isn’t personal enough”, while 47% said chatbots simply aren't answering their questions. Finextra has the details.

Millennials want more visible security
While passwords have long been the dominant method of authentication, consumers are increasingly turning to biometric authentication. When it comes to routine online financial activities and transactions, 30% of consumers expressed a desire for more of these visible security measures when accessing accounts. PYMNTS.com has the details.

Cybersecurity Insurance: Once optional, now essential
It has never been more important for business and IT leaders to take a fresh look at their cybersecurity processes and practices, and to contemplate several initial actions when considering their strategy for cybersecurity insurance. has the details.

FedNow is ‘doing what it was planned to do’
There are more than 200 institutions that have signed on to FedNow, and several service providers — Form3 included — have been certified to support those customers. has the details.

Deep Dive: Beyond the basics of BaaS
BaaS effectively dismantles the traditional silos of banking, offering a modular approach where various financial services such as payments, lending, and account management become accessible building blocks. has the details.

The embedded finance opportunity for software platforms
Embedded finance has the potential to revolutionize the way software platforms and marketplaces operate. Yet for all its promise, certain barriers stand in the way of broader adoption by Software-as-a-Service (SaaS) platforms and marketplaces. PYMNTS.com has the details.

Spams, Scams, and Breaches

• CNET: Apple Shares Cybersecurity Breach Report Amid Push for Encryption
• Dark Reading: Ransomware, Data Breaches Inundate OT & Industrial Sector
• Help Net Security: Third-party breaches shake the foundations of the energy sector
• Dark Reading: CISA: Threat Actor Breached Federal Systems via Adobe ColdFusion Flaw
• Information Week: Security Questions to Ask after the ZeroedIn Breach
• Dark Reading: Hackers Claim to Breach Israeli Defense Force Medical Data
• CNET: How to Check for Bank Accounts You Didn’t Sign Up For - Money
• Computerworld: Apple secures WebKit as global ransomware attacks surge

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• Dark Reading: Proxy Trojan Targets macOS Users for Traffic Redirection
• SecurityWeek: Atlassian Patches Critical Remote Code Execution Vulnerabilities
• Dark Reading: Patch Now: Critical Atlassian Bugs Endanger Enterprise Apps
• Help Net Security: Critical Zyxel NAS vulnerabilities patched, update quickly!
• SecurityWeek: Chrome 120 Patches 10 Vulnerabilities
• Help Net Security: 21 high-risk vulnerabilities in OT/IoT routers found
• Dark Reading: WordPress Bug 'Patch' Installs Backdoor for Full Site Takeover
• TechCrunch: Apple releases security updates for iOS, iPadOS and macOS, fixing two actively exploited zero-days
• Dark Reading: Critical 'LogoFAIL' Bugs Offer Secure Boot Bypass for Millions of PCs
• Help Net Security: Apple patches two zero-days used to target iOS users (CVE-2023-42916 CVE-2023-42917)

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 IT Crowd had many classic moments. This is one of them.