Research firm IDC predicted late last year that the identity and access management market would rise to $7.1 billion in 2018, up from $4.8 billion in 2014 – a nearly 48 percent rise in four years. That rise has been driven in part by financial firms, which have been among the most active adopters of identity management technology.
MasterCard is opening up its digital security facility to its customers the company announced last week in an effort to foster further collaboration on key security issues and give customers "greater payments piece of mind." The facility, known as the DIgiSec Lab, is located somewhere in England and proactively tests technology in cooperation with other research facilities such as universities and government security agencies.
Last year social domains reportedly began outnumbering traditional domains for the first time. For a growing number of companies, including many of the top banks in the U.S., monitoring this more informal part of the Internet is becoming a key defense in identifying criminals looking to gain entry into a firm or divert business away from it, experts say.
Charles Schwab has launched a cybersecurity website for customers that includes information on some of the types of protections that Schwab uses to protect its accounts as well as resources to help consumers better protect themselves.
While phishing attacks have been around for years, recent research indicates their success rates are on the rise, as attackers launch more sophisticated campaigns. Security experts point to the growing importance of social media education in fighting this threat, particularly in the financial sector, which tends to be highly targeted.
Wells Fargo is planning to roll out biometrics that fuse both face and voice recognition for extra security in authenticating mobile users of its CEO Portal. The bank said based on its research it will be the first financial firm to merge those types of biometrics.
Enterprise security and systems management technology company Tanium is moving into cyber forensics, with two recent executive-level security hires helping to develop the new capabilities.
Is the financial industry's strict culture of compliance to regulatory procedures slowing its capacity to remediate cyber threats?
London-based foreign exchange planform Kantox has raised $11 million in financing and added a former Goldman Sachs trader to its board, after announcing it has processed $1.5 billion in transactions since its launch four years ago. The company, which targets small- and medium-sized business, said it is on track to reach $2 billion in total transactions by October.
A Florida company is taking peer-to-peer and artificial intelligence technology originally developed through the University of Florida and National Science Foundation research and applying it to enterprise-level security.