technology news
Fiorano Announces Technology to Simplify ISO 20022 Adoption
Fiorano Software, a leading Enterprise Integration Middleware, API Management and Banking Solutions specialist, announced today the availability of its ISO 20022 Technology platform to simplify and accelerate ISO 20022 adoption for financial institutions. Fiorano’s technology will enable rapid adoption of the ISO 20022 messaging standard using inbuilt code-less integration, mapping and transformation components that support SWIFT MT, SWIFT MX and ISO 20022 standard translations and transformations out-of-the-box. “The ISO 20022 standard is becoming common language for payments data across the globe. Unfortunately, introducing ISO 20022 into traditional IT environments is not easy as it touches multiple backend systems and the rich nature of messages means maintaining data fidelity ca...
COVID-19: TransUnion Provides Key Info to Kenya’s Financial Services Providers
Global information and insights company TransUnion says Kenya’s financial services providers and consumer credit market will have to drive a robust, proactive response to the COVID-19 crisis if they are to manage the risks to the industry, with the pandemic expected to have a major impact on the country’s economy and the consumer landscape. Past crises and initial data suggest there will be ‘a significant reduction’ in the quality and volume of credit in Kenya as consumers and businesses grapple with lower income. What will define the COVID-19 pandemic for the consumer credit market is how banks and lenders respond to the challenges it presents, says Billy Owino, CEO of TransUnion Kenya. To help the consumer credit market respond to the crisis, TransUnion this morning launched its COVID-19...
Cybercrime has Increased by 33%, Report Shows
The 100 Days of Coronavirus report – published by Mimecast – shows that the volume of malicious and opportunistic cybercrime has increased significantly by 33% in the period January to March 2020. The new report has found that in the period January to March 2020 monthly volumes of: Spam and opportunistic cybercrime detections increased by 26.3%, Impersonation fraud detections increased by 30.3%, Malware detections increased by 35.16%, and Blocking of URL clicks increased by 55.8%, meaning people are more likely now to click on unsafe links than before the outbreak. Over the months of February and March, as South Africa reported its first case and moved swiftly into lockdown, the Threat Intelligence Team saw dramatic increases in cyberattacks in Sub-Saharan Africa. Carl Wearn, Head of E-Cri...
One-in-Three Ransomware Attacks Target Corporate Users
Sourced from Kaspersky On May 12, 2017, the largest ransomware epidemic in history, WannaCry, reached its peak. Three years later, this and other ransomware threats are still affecting people and companies. Recent Kaspersky research has revealed that in 2019, WannaCry kept its position at the top of the most prevalent ransomware families, while almost a third (30%) of those targeted by ransomware were corporate users. On 12 May 2020, Kaspersky and INTERPOL continue to urge organisations to think about backing up their data and adopting relevant protection so that they could avoid any potential ransomware siege and a catastrophe similar to WannaCry doesn’t happen again. Ransomware has become a big challenge for many organisations. Even though this is not the most advanced threat from a tech...
