After years of taking a ‘wait and see’ approach, fintech applications are moving to the public cloud. As a vendor with the privilege of talking to both application providers and financial institutions (FIs) daily, we find very few who are happy with the WAN solutions available to them as they move to the cloud. Initially,
The Importance of Security and Cost-Effectiveness in Banking IT Anyone who has worked in banks and credit unions IT departments, knows a couple of truths are threaded through every technology adoption decision. As an industry, financial services organizations are generally more risk-averse than most. And rightfully so – the data they are handling is arguably
Next Generation Networking Solutions as a Solution As security threats increase and regulations continue to change, IT departments of banks and credit unions are facing the challenge of keeping up with the rapidly evolving landscape of technology. In order to address these challenges and stay ahead of the curve, many financial institutions are turning to
Banks and credit unions have one of the toughest security jobs in the world. They must balance the needs of handling some of the most important data in the world (financial records and transactions) with the need to facilitate seamless remote access to this data for their customers and staff. As 2020 unfolded and virtually
Banking software providers have delivered some of the most solid and secure WAN connectivity for decades. From the early days of dedicated T1 circuits, to MPLS, VPN and now SD-WAN, the connections between software providers and banks, including Community Banking Connections, have been at the forefront of WAN technology. They didn’t really have a choice.
Recently, Finastra was hit with ransomware attacks and was forced to shut down a number of its products and services over the weekend. According to initial reports, the attacks may have been facilitated by the use of unpatched VPNs with known vulnerability issues. While Finastra has not released the full details and scope of the breach,
FinTech has exploded over the last decade. The community banking and credit union industries are craving additional features, customer experiences and way to differentiate themselves, and innovation in FinTech is allowing them to do it.
The FinTech space is transforming. This transformation has been simmering for years and is just beginning to catch fire.
Connectivity solutions will be increasingly challenged to implement the most advanced security. Enterprise scale banks can produce enterprise scale APIs but community financial institutions must rely on different methods, frequently to several vendors at a time.