As you may have heard, Finastra was hit with ransom-ware attacks and were forced to shut down a number of their products and services over the weekend. There are initial reports showing that Finastra may have been running an unpatched VPN with known vulnerability issues. While Finastra has not released the full details and scope
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.
In the year that saw social media engineering, massive data breaches, and a run-away ransomware problem, it’s no surprise to learn that American banks did not fare well either.
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.