Tech Talk: Data preparation, automation, quantum computing, and more!

• Data preparation for AI in banks
• Banking learns from retail’s ‘clienteling’
• How banks employ quantum computing
• Pressure on FIs to automate
• AI: Empowering CUs
• Over a third of fraud attempts on FIs use AI
• Swift uses AI to battle payment fraud
• AI’s role in financial services
• Pay-by-Bank signals new era of payments
• Spam, Scams & Breaches
• Updates, Patches & Alerts
• and on the lighter side...

Data preparation for AI in banks
AI models, no matter how advanced, are only as good as the data you feed them, and their predictions will be faulty if the training datasets are not structured, formatted, labeled, and cleaned well enough. Banking Dive has the details.

Banking learns from retail’s ‘clienteling’
The rise of digital banking has spurred financial institutions (FIs) to take a page from retail, specifically, the practice known as “clienteling,” which in turn means that the folks who walk into the branch are the very customers that the bank wants to be there. PYMNTS.com has the details.

How banks employ quantum computing
As large global banks test quantum computing uses, it’s crucial that what’s learned is shared with the broader industry, particularly when it comes to defending against cyber risks. has the details.

Pressure on FIs to automate
Financial institutions (FIs) are under increasing pressure to automate their existing manual processes and take the appropriate steps to ensure their underlying technology and operations are able to handle the new realities of the compressed settlement environment. PYMNTS.com has the details.

AI: Empowering CUs
With artificial intelligence (AI) being the big buzzword of the last year, can credit union leaders leverage this technology to help identify new opportunities to boost deposits and improve loan growth? FinTech Futures has the details.

Over a third of fraud attempts on FIs use AI
Research reveals that fraud prevention decision-makers across Europe are experiencing more AI-driven identity fraud and expect it to grow, but are unprepared to tackle it, and haven’t been able to implement measures to prevent it yet. Finextra has the details.

Swift uses AI to battle payment fraud
Swift is partnering with a group of banking giants to combat cross-border payment fraud. The global messaging service announced in a news release Thursday (May 30) that it is launching a pair of artificial intelligence-based experiments to help its member banks recognize fraud. PYMNTS.com has the details.

AI’s role in financial services
Despite the fact that threats, risks and potential entry points are evolving and changing all the time, AI-driven defense tools can do everything from helping prevent cyber threats, to limiting an FS company’s losses and accelerating the recovery process. Finextra has the details.

Pay-by-Bank signals new era of payments
While open banking is not a new concept globally, the potential for its upcoming regulatory adoption in the United States could demarcate a new era as banks are mandated to provide secure access to their data to third-party service providers, facilitating more integrated and user-friendly financial services. PYMNTS.com has the details.

Spams, Scams, and Breaches

• SecurityWeek: FBCS Data Breach Impact Grows to 3.2 Million Individuals
• TechCrunch: US pharma giant Cencora says Americans' health information stolen in data breach
• SecurityWeek: Personal Information of 44,000 Compromised in First American Cyberattack
• SecurityWeek: ABN Amro Client Data Possibly Stolen in AddComm Ransomware Attack
• SecurityWeek: Christie's Confirms Data Breach After Ransomware Group Claims Attack
• SecurityWeek: Data Stolen From MediSecure for Sale on Dark Web
• SecurityWeek: 2.8 Million Impacted by Data Breach at Prescription Services Firm Sav-Rx

Updates, Patches, and Alerts...

• US-CERT: Current Activity
• TechCrunch:
• SecurityWeek: Check Point VPN Attacks Involve Zero-Day Exploited Since April
• Dark Reading: Exploit for Fortinet Critical RCE Bug Allows SIEM Root Access
• CNET: iOS 17.5.1 Update Fixes a Potentially Embarrassing Photo Bug
• Help Net Security: RansomLord: Open-source anti-ransomware exploit tool
• SecurityWeek: Google Patches Fourth Chrome Zero-Day in Two Weeks

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...

Many of us are up to date on the latest gizmos and gadgets. Others might say Technology Has Passed Me By.