6MAY 2019Managing EditorSarah DawsonAaron Pierce Ann Bennis Antony MosesVisualizerJohn GothamSalesSarah DawsonManaging Editoreditor@cfotechoutlook.comKatherine Joneskatherine@cfotechoutlook.comEditor's NoteBooming Demand for Stolen DataThe cybersecurity picture is still bleak across the global financial services industry. As the demand for stolen data is still booming, hackers are increasing the sophistication and frequency of their attacks on large platforms. More importantly, the inclination of most millennials to rely on digital wallets along with their growing preference for cryptocurrencies over traditional banking institutions has given rise to a fertile ground for data breaches and fraudulent activities. Against this backdrop, balancing rapid, frictionless payments and effective security measures is of utmost importance.As money moves more quickly, detecting and inhibiting fraudulent transactions takes on increased urgency. As such real-time fraud detection is gaining prominence in the financial services sector, leveraging which financial institutions can validate, account, and identify frauds during payment processing in seconds. Along with that, the adoption of payment-hub technology is on the rise, owing to its capability to manage of all payment types on a single platform coupled with better risk analysis, faster settlement, lower routing costs, and a real-time view of transactions.With ransomware, fraudulent mobile apps, and DDoS attacks galore in the finance industry, hacker automation might surface as a key trend over the coming years, enabling cybercriminals to run fraud campaigns expeditiously without needing an advanced technical background. To combat this, the use of automation across organizations is exponentially increasing in order to discern attacks as early as possible and thwart these campaigns. External visibility into threat activity is also playing an integral role in early identification and successful mitigation of financial frauds. Information, as always, is the first step toward prevention. Today fraudsters are always on their feet, agile, and increasingly adept at finding new ways to penetrate organizational security frameworks. While some businesses are looking for affordable, cloud-based security solutions that are easy to install and use, others are seeking high-end security systems and solutions capable of uprooting frauds at the very beginning of payment processing. In helping businesses choose from a pool of noteworthy options, CFO Tech Outlook has compiled valuable insights from industry thought-leaders and listed some of the most innovative and proficient financial fraud detection solution providers. Leafing through this special edition will allow strategic planners and leaders to comprehend the horizons of fraud detection for mitigating and eliminating risks in the financial realm.Contact Us:Phone:5510-556-2402Fax:510-894-8405Email:sales@cfotechoutlook.comeditor@cfotechoutlook.commarketing@cfotechoutlook.com May - 28 - 2019, Vol - 05,Issue - 05 Published by ValleyMedia, Inc. To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com Editorial StaffAva GarciaJoshua Parker Paul BarberIssac GeorgeCopyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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