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The Need For Effective Third-Party Risk Management In Financial Services

In the last few years we have seen the frequency and severity of third-party cyberattacks against global financial institutions continue to increase. One of the biggest reported attacks against financial organisations occurred in early 2016, when $81 million was taken from accounts at Bangladesh Bank. Unknown hackers used SWIFT credentials of Bangladesh Central Bank employees to send more than three dozen fraudulent money transfer requests to the Federal Reserve Bank of New York asking the bank to transfer millions of the Bangladesh Bank’s funds to bank accounts in the Philippines, Sri Lanka and other parts of Asia. The Bangladesh Bank managed to halt $850 million in other transactions, and a typo made by the hackers raised suspicions that prevented them from stealing the full $1 bil......

3 Tips For Combating Fraud

Fraud is an inevitability of business, and one that most won’t concede they’re susceptible to. But the blunt truth is, insiders who are close to critical systems—or outsiders who are skilled enough to exploit vulnerabilities in anti-fraud and other security controls—will steal. They may target assets they’re entrusted to protect or cook the books to hide their tracks; in the end both types of fraudsters aim to make off with significant money. Fraud persists, and frankly, it’s not realistic to believe businesses can take measures that will permanently eradicate it. Fighting fraud, however, doesn’t have to be in vain. Here are three tips to help businesses combat fraud: 1. Get Inside The Adversary’s Head Anti-fraud systems may be effective and getting better, but they’re not going to d......

How To Drive Enterprise Video Engagement And Adoption

Introducing the widespread use of video to an organisation causes a paradigm shift that can be daunting for both employees and executive leadership to accept. But the good news is, hundreds of companies have successfully travelled this path by following some key rules. It is essential that, prior to launching any sort of widespread enterprise video initiative within an organisation, all possible barriers to adoption must be identified. For example, one of the most common barriers when it comes to the adoption of enterprise video is the mindset that video is both expensive and time consuming. Obviously with the proliferation of personal apps like SnapChat, Skype and Facetime, these misconceptions were overcome outside of the office long ago. But inside many organisations these beliefs still......

How Blockchain Might Transform Businesses

Having been hailed as one of the most significant and promising technological developments in the 21st Century, blockchain undoubtedly has an exciting future ahead of it. The cryptocurrency boom of 2017 saw bitcoin and other popular cryptocurrencies rocket in price before declining at the start of 2018, but it also brought blockchain, the technology underpinning bitcoin, to the world’s attention. Here is some further information regarding this technology and its potential to transform businesses worldwide.   Financial Services One of the key industries which blockchain could impact is financial services. Given that blockchain is a decentralised, immutable ledger which allows the seamless transfer of digital information, financial services could greatly benefit from the unparalleled securit......

Banking And Finance Trends Driven By Digital Wallets And Chatbots

Money, banking and associated customer support are all changing fast. Any business that trades needs to monitor and adopt these trends to keep customers coming, to use them to be more efficient in their own trade, and to keep the payments flowing. Several recent grim experiences showed how flaky traditional banking services are, and how digital money, new technology and challenger banks can take advantage. The recent TSB outage, a £200 million disaster is just the latest customer relations failure by a major bank. And, the growing refrain, of “there’s no such thing as free banking” suggests costs to the customer will start to rise soon. That’s as card and payment systems struggle to keep up with the load, and handling actual cash becomes a drag on the banks. Then there’s the queue for cust......

Top Enterprise Security Threats To Watch Out For In 2018

In recent years, mobile devices have undoubtedly become the most popular form of gadgetry for the average person to carry. Almost everyone carries a smartphone, a tablet, and sometimes even both. However, with the convenience that the mobile industry gives its consumers also come risks. These risks come in so many forms, be it the risk of malware infection or the risk of data breaches. While these sound terrible to the average consumer, companies are much more susceptible to these attacks for the sole reason that companies have more resources and more confidential information versus the average smartphone user. In fact, a lot of companies spend thousands of dollars to get reliable business IT support — a good example comes in the form of business IT support in London from Prosyn, wherein a......

How To Know Whether You Have Quality Contracts For Your Business

Having contracts can be an essential part of running a business, and it can be completely necessary for type of industry that you work in. When you are dealing with clients and you want to make sure that the terms are all laid out properly, it can be essential for you to have clear contracts and know what is in them. While it might seem like a lot of work, it can eventually save you hassles with customer relationships in the future. Here’s how to know whether your contracts are in good order or if they need to be revised. You Have A Basic Template While each client is a little different and it might require you to come up with an agreement that works for both your customers and your business, it can help to have a template available. Having a basic contract can assure you that all the need......

Lessons From Key Vertical Markets For Chatbots

New chatbots appear daily across a growing range of businesses and markets, but they are currently in “rock star” mode in a few key verticals. It is here that they demonstrate and provide major benefits and impact. Use the lessons from these verticals for your own chatbot business plans. The pace of chatbot growth and the ensuing hype continues at a rapid pace, making it easy to fall for the hype or misread the market. However, chatbots are making a massive impact in some key areas, and by understanding and following their trends, you will have a better grasp of how to launch your own. business bot Hospitality Welcomes Bots Leading the bot revolution is the hospitality and travel industry with hotels a natural environment for chatbots acting as a digital concierge. Chatbots are already tak......

5 Important Considerations When Creating A Bot From Scratch

Chatbots have become very popular over the past two years. They have found their spot in businesses of all sizes, ranging from Fortune 500s to startups. Their most common use case is to help companies streamline their communications with customers and build better relationships. So, it’s no surprise that you are here trying to learn as much as you can about chatbot creation. Since creating a bot from scratch is a complex task, especially if you are not using a chatbot platform, you will need to cover some grounds before you start your journey. This is why we are here to give you 5 important things to consider when creating a bot from scratch. For your convenience, we will cover the process of building one from scratch with and without using a chatbot platform. You Will Have To Master A Few......

US Web Hosting: What It Is And 5 Reasons You Need It

A web hosting service is a platform that permits companies and individuals to make their web page accessible globally through the global web. These services are provided by companies referred to as web hosts, and these companies offer space on their server, which individuals and companies can use to advertise their site. US web hosting was initially started to offer web hosting solutions to individuals and corporate organizations in the United States. Its goal was serving all the clients based in the US and is the leading web host all over the world. US Web host does not limit small businesses and also bloggers who might be doing either personal blog or even company blogs. There are many web hosts in the US, and this may give you challenges when deciding on the company to choose if it is y......

8 Tips To Make Your Chatbot A Customer Success Story

Chatbots are here to stay, but once a business has built one, unlike a website, they shouldn’t stand still. Here are eight ways you can quickly make the chatbot better, to encourage repeated use from your customers, improve satisfaction and engagement, and make it a key part of your digital business. 1. The chatbot is just part of the customer experience Many businesses, especially startups, look to the chatbot as a way to farm off customer interaction to technology. This isn’t the right approach, the bot needs to be part of an all-around experience. At its simplest, that means if the bot can’t solve a problem it needs to bring it to a person’s attention, not bury the issue in a loop or result in an unsuccessful experience. Don’t be afraid to route chatbot issues to your team or customer s......

Benefits Of Hiring A Professional SEO Company For Your Online Business

Online business has taken over the Internet in the past decade. If you are in any kind of business then you will already know the importance of having an online presence. The vast reaching power of the Web has changed the way that business is done. It allows you to draw in a huge audience to your products or services like never before. If you are not taking full advantage of the sales tools and tricks of the trade then you could be missing out. There is a ton of competition to deal with online, and making sure that you are getting seen is a big part of the battle. There are ways to take control of the system and optimize your site to appear higher in the search rankings. Using keywords, images and proper titling and linking on your site are just some of the basics of using SEO to improve y......