Tech Talk: AI chatbots, open banking, cloud adoption, and more!

• AI chatbots are transformative
• Anti-fraud measures need to work at instant payments speed
• What is open banking?
• 29 malware families target 1,800 banking apps
• CFPB urged to strengthen open banking data protection
• Using gamification to manage debt
• Data security and cost are key cloud adoption
• Revolut scores a perfect 100
• Risk Management: Using APIs for financial analysis
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

AI chatbots are transformative
AI's rapid growth, fueled by generative AI and LLMs, is bolstered by their capability to generate content and grasp the nuances essential for customer interaction. However, this transformation relies on banks revamping legacy systems and redefining their customer approach. Finextra has the details.

Anti-fraud measures need to work at instant payments speed
The financial landscape is constantly in flux — and now it’s getting a little faster. As instant payments gain prominence, the strategies, challenges and potential impacts of the money movement vehicle all hinge on one thing: adoption by both consumers and businesses. PYMNTS.com has the details.

What is open banking?
Open banking is a banking practice wherein application programming interfaces (APIs) grant third-party financial service providers unrestricted access to consumer banking, transactions, and other financial data from non-bank financial institutions and banks. And it's here. Finextra has the details.

29 malware families target 1,800 banking apps
Banking trojans continue to evolve and succeed due to their ability to persist, bypass security, and evade detection on mobile devices. As investment from fast-moving threat actors continues to increase, traditional security practices are unable to keep up. Help Net Security has the details.

CFPB urged to strengthen open banking data protection
In response to the CFPB's planned new open banking rules, recommendations, The Clearing House Association and Bank Policy Institute argue they do not go far enough in protecting sensitive consumer financial data or requiring data recipients to comply with the rules. Finextra has the details.

Using gamification to manage debt
Only 17% of U.S. consumers carry no debt, according to “The Credit Accessibility Series: Economic Malaise Exacerbating U.S. Consumer Debt Levels,” a PYMNTS Intelligence and Sezzle collaboration. Consumers are managing this debt in several ways, and financial services providers can give them a hand using gamification. PYMNTS.com has the details.

Data security and cost are key cloud adoption
89% of financial services executives believe that a cloud-enabled platform is crucial for delivering the agility, flexibility, innovation, and productivity necessary to meet escalating business demands. Yet, most firms are still not cloud-native. Why? Help Net Security has the details.

Revolut scores a perfect 100
Now that holiday spending is done, you might resolve to take control of your finances in the new year. PYMNTS’ Provider Ranking of Digital Banking Apps can help you decide what your options are to start fresh. PYMNTS.com has the details.

Risk Management: Using APIs for financial analysis
Real-time data allows for a more accurate and up-to-date assessment of risk factors, enabling financial institutions to respond promptly to changing market conditions. Finextra has the details.

Spams, Scams, and Breaches

• Dark Reading: Mandiant's X (Twitter) Account Hacked to Promote Crypto Scam
• TechCrunch: Law firm that handles data breaches was hit by data breach
• Dark Reading: Ransomware Group Claims Cyber Breach of Xerox Subsidiary
• Security Week: Over 900k Impacted by Data Breach at Defunct Boston Ambulance Service
• Dark Reading: Comcast Xfinity Breached via CitrixBleed; 35M Customers Affected
• SecurityWeek: LoanCare Notifying 1.3 Million of Data Breach Following Cyberattack on Parent Company
• CNET: Scammed With Zelle Over the Holidays? Banks May Now Reverse the Charges
• SecurityWeek: Inmate, Staff Information Stolen in Rhode Island Prison Data Breach
• Dark Reading: What's the Best Way to Communicate After a Data Breach?
• SecurityWeek: ESO Solutions Data Breach Impacts 2.7 Million Individuals
• PYMNTS.com: Ledger Says It Will Reimburse Victims of Hack by February
• SecurityWeek: Mr. Cooper Data Breach Impacts 14.7 Million Individuals
• PYMNTS.com: MongoDB Reports Security Breach of Its Database Management Firm
• SecurityWeek: Ohio Lottery Hit by Ransomware, Hackers Claim Theft of Employee and Player Data
• TechCrunch: Why extortion is the new ransomware threat
• TechCrunch: As the SEC’s new data breach disclosure rules take effect, here’s what you need to know
• SecurityWeek: Ransomware Group Claims 100 Gb of Data Stolen From Nissan
• Dark Reading: Complex 'NKAbuse' Malware Uses Blockchain to Hide on Linux, IoT Machines
• SecurityWeek: Delta Dental Says Data Breach Exposed 7 Million Customers
• Information Week: Data Breaches Just Keep Piling Up
• SecurityWeek: Personal Information of 45,000 Individuals Stolen in Idaho National Laboratory Data Breach

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• SecurityWeek: Google Patches Six Vulnerabilities With First Chrome Update of 2024
• Computerworld: Timely Apple updates must be in your supplier SLAs
• Help Net Security: SSH vulnerability exploitable in Terrapin attacks (CVE-2023-48795)
• SecurityWeek: ESET Patches High-Severity Vulnerability in Secure Traffic Scanning Feature
• Dark Reading: 'Operation Triangulation' Spyware Attackers Bypass iPhone Memory Protections
• SecurityWeek: Vulnerabilities in Google Kubernetes Engine Could Allow Cluster Takeover
• CNET: iOS 17.2: Turn On Contact Key Verification With These Easy Steps
• SecurityWeek: CISA Warns of FXC Router, QNAP NVR Vulnerabilities Exploited in the Wild
• Dark Reading: 'BattleRoyal' Hackers Deliver DarkGate RAT Using Every Trick
• SecurityWeek: Critical Apache OFBiz Vulnerability in Attacker Crosshairs
• CNET: iOS 17.2.1: What You Should Know About Apple's iPhone Update
• SecurityWeek: Google Rushes to Patch Eighth Chrome Zero-Day This Year
• Dark Reading: Attackers Exploit 6-Year-Old Microsoft Office Bug to Spread Spyware
• SecurityWeek: Mozilla Patches Firefox Vulnerability Allowing Remote Code Execution, Sandbox Escape
• Dark Reading: Microsoft Outlook Zero-Click Security Flaws Triggered by Sound File
• SecurityWeek: Ivanti Patches Dozen Critical Vulnerabilities in Avalanche MDM Product
• Dark Reading: Microsoft: Multiple Perforce Server Flaws Allow for Network Takeover
• PCWorld: Microsoft's fix for Windows renaming printers is still pretty annoying
• Dark Reading: Years-Old, Unpatched GWT Vuln Leaves Apps Open to Server-Side RCE
• Computerworld: For December, an exceptionally light Patch Tuesday
• Dark Reading: Novel SMTP Smuggling Technique Slips Past DMARC, Email Protections
• PYMNTS.com: FSOC: Use of AI a Vulnerability in Financial System
• Dark Reading: Patch Now: Exploit Activity Mounts for Dangerous Apache Struts 2 Bug

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 5 biggest technology trends in 2024 everyone must get ready for now.