BizTech Magazine - Technology Solutions That Drive Business en It’s Time for Financial Institutions to Adopt the Cloud — These Technologies Can Help <span>It’s Time for Financial Institutions to Adopt the Cloud — These Technologies Can Help</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Fri, 10/19/2018 - 13:21</span> <div><p>Financial institutions have long been wary of the cloud. And why shouldn’t they be? With such important and high-target assets to protect, it can be shrewd to approach new tech with a careful eye. But the tides are turning as improvements in cloud security are making the cost, flexibility and scalability benefits more enticing to financial institutions than ever.</p> <p>“In the past, banks and financial institutions showed hesitation in adopting cloud-based offerings, citing potential security concerns and risks associated with migrating from on-premises systems,” Martin Häring, chief marketing officer at Finastra, <a href="" target="_blank">tells Information Age</a>. “Today, it’s more common for financial institutions to embrace cloud-based applications, as they realize the benefits they can deliver in terms of cost reduction and efficiency.”</p> <p>In fact, <a href="" target="_blank">according to a press release put out by Microsoft last year</a>, <strong>80 percent</strong> of large financial institutions are adopting <a href="" target="_blank">Azure</a>, the company’s cloud solution. Bank of America is among those tapping Azure, with the aim of modernizing “technology infrastructure to enable current and future growth” in the cloud. And it’s not just large banks turning to the cloud; <a href="">smaller ones are diving in, as well</a>.</p> <p>The truth is, while many institutions continue to show trepidation when it comes to cloud adoption, they are likely prolonging the inevitable.</p> <p>But the technology can’t function alone to deliver all of the benefits banks seek. Tapping the following tools can help financial institutions get started on their cloud journey securely, efficiently and cost-effectively.</p> <p><em><a href="" target="_blank"><strong>VIDEO:</strong> See what it takes to better manage workloads in the cloud!</a></em></p> <h2>Prioritize Cloud Apps, Security and Connectivity with SD-WAN</h2> <p>As financial institutions migrate their mission-critical applications to the cloud, traditional wide area network architectures can make it difficult to prioritize and secure apps and traffic. This is where a software-defined wide area network can step in.</p> <p><a href=""><em>BizTech</em> explains</a> that “SD-WAN allows businesses to create hybrid WAN architectures that use multiple kinds of connections — different paths, essentially — to automatically create the best network path for the apps running on the network. It enables certain apps to be prioritized over other, less important network traffic. This can be done at a granular level and managed via a centralized software controller.”</p> <p>And for those wary about cyberthreats, application security is a main driver behind why organizations are adopting SD-WAN in the first place, <a href="" target="_blank">according to a report by IDC</a>.</p> <p>Moreover, for banks with branch locations, SD-WAN can simplify how traffic is routed in branches and <a href="">improve connectivity to the cloud</a> overall.</p> <p>"SD-WAN is absolutely critical, because it is the vehicle most likely to bring true virtualization to networking, Tom Nolle, president of CIMI Corporation, <a href="" target="_blank">tells Network World</a>. “Without virtualization in the network, virtualization in the cloud or data center will never be fully realized or effective."</p> <h2>Capture Security Gains with CASBs</h2> <p>As data, services and applications get moved into the cloud, it can open up a blind spot to the data transfers that happen between cloud apps, such as an employee sending information between a Dropbox account and a cloud-hosted company email.</p> <p>“All of our existing network security infrastructure becomes blind to data transfers that happen in the cloud,” said Srini Gurrapu, <a href="" target="_blank">McAfee</a>’s chief cloud evangelist, <a href="">speaking at CDW’s Managing Risk SummIT in Boston</a>.</p> <p>Cloud access security brokers can shed some light on shadow IT, allowing companies to track traffic and discover risky apps and users.</p> <p>“It’s an automated watchdog looking over the shoulders of your users,” Eric Andrews, vice president of cloud security for <a href="" target="_blank">Symantec</a> tells <em>BizTech</em>.</p> <p><em>This article is part of </em>BizTech<em>'s <a href="">EquITy blog series</a>. Please join the discussion on Twitter by using the <a href=";src=typd">#FinanceTech</a> hashtag.</em></p> <p><a data-entity-type="" data-entity-uuid="" href=""><img alt="Equity_logo_sized.jpg" data-entity-type="" data-entity-uuid="" src="/sites/" /></a></p> </div> <div> <div class="field-author"><a href="/author/chad-morris" hreflang="en">Chad Morris </a></div> </div> Fri, 19 Oct 2018 17:21:40 +0000 juliet.vanwagenen_22746 42486 at What Will It Take to Close the Cybersecurity Talent Gap? [#Infographic] <span>What Will It Take to Close the Cybersecurity Talent Gap? [#Infographic]</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Fri, 10/19/2018 - 10:37</span> <div><p>Cybersecurity is top of mind for organizations everywhere, yet the talent pool to fill these much-needed positions just isn’t there. In fact, according to a 2017 survey by <a href="" target="_blank">ISACA’s Cybersecurity Nexus</a>, only <strong>13 percent</strong> of organizations surveyed received more than <strong>20 applications</strong> for cybersecurity job openings. The majority (<strong>59 percent</strong>) received about five applications per open position.</p> <p>“Though the field of cybersecurity is still relatively young, <strong>demand continues to skyrocket</strong> and will only continue to grow in the coming years,” Christos Dimitriadis, ISACA board chair, said in a statement. “As enterprises invest more resources to protect data, the challenge they face is finding top-flight security practitioners who have the skills needed to do the job. When positions go unfilled, organizations have a higher exposure to potential cyberattacks. It’s a race against the clock.”</p> <p>In response to the talent shortage, everyone from <a href="" target="_blank">major tech companies</a> to <a href="">community colleges</a> are setting out to train students in this highly coveted skillset.</p> <p>Check out the infographic below from Purdue University to learn more about the cybersecurity skills shortage, what it means for business security and <a href="">how companies can join the fight against the dearth of talent</a>.</p> <p><em><a href="" target="_blank"><strong>VIDEO:</strong> Learn how executives tackle the cybersecurity skills shortage!</a></em></p> <p><em><img alt="Purdue_Infographic_0.jpg" data-entity-type="" data-entity-uuid="" src="/sites/" /></em></p> </div> <div> <div class="field-author"><a href="/author/juliet-van-wagenen" hreflang="en">Juliet Van Wagenen</a></div> </div> Fri, 19 Oct 2018 14:37:30 +0000 juliet.vanwagenen_22746 42481 at Gartner: Digital Transformation Drives IT Spending <span>Gartner: Digital Transformation Drives IT Spending</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Thu, 10/18/2018 - 15:34</span> <div><p>Global IT spending is on the up and it's all thanks to digital transformation. According to a <a href="" target="_blank">new projection from Gartner</a>, worldwide IT spending will reach <strong>$3.8 trillion in 2019</strong>, a <strong>3.2 percent</strong> increase from the expected spending of in 2018.</p> <p>Specifically, enterprise software spending will see the highest rate of growth at <strong>8.3 percent</strong> while Software as a Service follows it, driven by an increase in customer relationship management. Notably, cloud software will skyrocket with a growth rate of <strong>22 percent</strong> this year, versus a <strong>6 percent </strong>growth rate for all other software.</p> <p>“While currency volatility and the potential for trade wars are still playing a part in the outlook for IT spending, it is the shift from ownership to service that is sending ripples through every segment of the forecast,” said John-David Lovelock, research vice president at Gartner in a statement. “What this signals, for example, is more enterprise use of cloud services — instead of buying their own servers, they are turning to the cloud. <strong>As enterprises continue their digital transformation efforts</strong>, shifting to ‘pay for use’ will continue. This sets enterprises up to deal with the sustained and rapid change that underscores digital business.”</p> <p><a data-entity-type="" data-entity-uuid="" href="" target="_blank"><img alt="Digital%20Transformation_IR_1.jpg" data-entity-type="" data-entity-uuid="" src="/sites/" /></a></p> </div> <div> <div class="field-author"><a href="/author/juliet-van-wagenen" hreflang="en">Juliet Van Wagenen</a></div> </div> Thu, 18 Oct 2018 19:34:34 +0000 juliet.vanwagenen_22746 42476 at Cyberattacks that Target the C-Suite on the Rise <span>Cyberattacks that Target the C-Suite on the Rise</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Thu, 10/18/2018 - 11:28</span> <div><p><a href="">Phishing is big business for criminals</a>. But as targeted phishing campaigns, known as spear-phishing, continue to evolve, hackers don’t seem to be satisfied with small fish, aiming more often than ever for high-level and C-suite employees in attacks dubbed “whaling.”</p> <p>“We believe there has been a <strong>recent uptick in whaling scams</strong> aimed at businesses, and we want to warn companies to alert their employees about this potential fraud,” Katherine Hutt, national spokesperson for the U.S. Better Business Bureau, said <a href="" target="_blank">in a recent statement</a>.</p> <p>This increase is likely because there’s much to gain from the access granted via top-level executives. While gaining access through lower-level employees may grant scammers visibility into day-to-day operations, <strong>CEOs and CFOs can offer top-down access to all business operations</strong>.</p> <p><a href="" target="_blank"><em><strong>VIDEO:</strong> Check out how new tools and solutions that equip IT teams with more advanced, effective security defenses!</em></a></p> <h2>Whaling, CEO Impersonation and BEC Attacks on the Rise</h2> <p>So, what is a whaling attack, specifically? <a href="" target="_blank">According to Mimecast</a>, “a whaling attack is a kind of phishing scam and CEO fraud that targets high-profile executives with access to highly valuable information. In a whaling attack, hackers use social engineering to trick users into divulging bank account data, employee personnel details, customer information or credit card numbers, or even to make wire transfers to someone they believe is the CEO or CFO of the company.”</p> <p>But this isn’t the only type of attack aimed at higher-level executives that’s growing.</p> <p>The BBB also warns businesses about a <strong>CEO impersonation scam</strong>, in which scammers will reach out to employees “who can pay a large bill or provide wide-sweeping information,” while posing as a CEO or CFO, which offers the request “legitimacy and urgency.” Often, the request will be for a nonrecoverable wire transfer, and the scammer can pepper in details about the company or employee gained via online research or even through hacking emails,” the BBB notes.</p> <p>Similarly, business email compromise attacks are on the rise as well. These cyberattacks involve hackers infiltrating legitimate business email accounts to transfer funds out of the business. The FBI <a href="" target="_blank">notes in a July report</a> that losses from BEC attacks were up <strong>136 percent</strong> between December 2016 and May 2018. Similarly, a <a href="" target="_blank">report from Mimecast</a> released in August found there was an <strong>80 percent</strong> increase in these types of impersonation attacks in the third quarter of 2018.</p> <p>“Targeted malware, heavily <a href="" target="_blank">socially engineered</a> impersonation attacks and <a href="" target="_blank">phishing</a> threats are still reaching employee inboxes. This leaves organisations at risk of a data breach and financial loss,” said Matthew Gardiner, cybersecurity strategist at Mimecast, in a statement, <a href="" target="_blank">ComputerWorld reports</a>. “Our latest quarterly analysis saw a continued attacker focus on impersonation attacks quarter on quarter. These are difficult attacks to identify without specialised security capabilities, and this testing shows that commonly used systems aren’t doing a good job catching them.”</p> <h2>How to Protect Against Whaling Scams</h2> <p>What can businesses do to protect against other scams that target high-level executives? For whaling scams, in particular, the BBB offers the following tips:</p> <ul><li><strong>Be wary of short, generic messages</strong>. Scammers won't write a long email; they'll try to pass off something short and generic as harmless, hoping you'll click quickly without thinking.</li> <li><strong>Double check before clicking or downloading</strong>. A mouse click is all it takes to inadvertently grant access to your computer, accounts and information, or unleash malware on your systems.</li> <li><strong>Think about how you share</strong>. Never send sensitive, personal, or proprietary information via email, regardless of who's asking you for it.</li> <li><strong>Watch out for emails to groups</strong>. Sending an email "from the CEO" to a staff or employee email list is the fastest way for a scammer to attack and affect an entire business.</li> <li><strong>Set up processes</strong>. Make sure your company has a procedure for all requests involving sensitive information or payments, and make sure that procedure is followed. For particularly wide-reaching requests or large payments, require employees to check with their managers first.</li> </ul><p><a data-entity-type="" data-entity-uuid="" href="" target="_blank" title="CDW Cybersecurity Insight Report"><img alt="Cybersecurity-report_EasyTarget.jpg" data-entity-type="" data-entity-uuid="" src="/sites/" /></a></p> </div> <div> <div class="field-author"><a href="/author/juliet-van-wagenen" hreflang="en">Juliet Van Wagenen</a></div> </div> Thu, 18 Oct 2018 15:28:00 +0000 juliet.vanwagenen_22746 42471 at The Future of IT Bends Toward the Flexible <span>The Future of IT Bends Toward the Flexible</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Tue, 10/16/2018 - 13:29</span> <div><p>The only constant is change, and this applies even — perhaps especially — to IT operations.</p> <p>This is according to Gregg Siegfried, research director of cloud and IT operations at Gartner, <a href="">who spoke with <em>BizTech</em> </a>about how the Internet of Things, edge computing, cloud and more are necessitating and facilitating the move toward more scalable and agile operations both inside and outside the data center.</p> <p>The most dramatic of these predictions is that the data center will disappear completely, with Gartner <a href="" target="_blank">forecasting in a recent report</a> that by "2025, <strong>80 percent of enterprises</strong> will have shut down their traditional data center.” This is opposed to just <strong>10 percent</strong> that have shuttered data centers today.</p> <p>While the prediction isn’t a given, what will likely drive the change away from traditional data centers is the constant evolution in enterprise computing toward distributed digital infrastructures that can provide the flexible operations that companies need.</p> <p>“We don’t know exactly what’s going to happen, but there are many, many factors working together there. All we know is that a change is going to take place,” says Siegfried.</p> <p>But even if the data center sticks around, <a href="" target="_blank">as some believe it will</a>, it’s likely shift to a software-defined data center infrastructure, which can deliver a “more uniform provisioning of resources in the data center,” Siegfried says.</p> <script type="text/javascript" src="//;widget_id=1057636007&amp;width=640&amp;height=360"></script><p>In a software-defined data center, “you can move your workloads more elastically across a cloud provider as well as the data center, and you have a kind of uniform view of resources,” Siegfried says.</p> <p><a href="" target="_blank"><em><strong>DOWNLOAD:</strong> Learn more about how organizations are making digital transformation a reality!</em></a></p> <h2>DevOps Match Tech Flexibility with Team Agility</h2> <p>All these changes in tech must be met simultaneously with <strong>changes in IT team structure</strong>, however. This need is likely contributing to the rise of DevOps, a term melded from “development” and “operations,” which mirrors the team structure: a <strong>collaborative operating model</strong> where software developers and IT operations administrators work together.</p> <p>This new model allows more evolved software products and services to reach customers more quickly.</p> <p>“You start out with the agile product development, whether you’re using a scrum or something like that. But you’re extending that agile methodology into the operations, so we’re allowing them to participate equally with the developers, and you get more of a shared success model there,” explains Siegfried.</p> <p>Each DevOps model is different and tailored to an organization’s needs. And for those who are willing to dig in with the mindset of incremental improvement, it can be hugely beneficial for products in the long run.</p> <p>“What we’ve seen is it allows the products to get out a little more incrementally, a little more quickly and tested more thoroughly. And you may end up with a more quality product,” Siegfried says.</p> </div> <div> <div class="field-author"><a href="/author/juliet-van-wagenen" hreflang="en">Juliet Van Wagenen</a></div> </div> Tue, 16 Oct 2018 17:29:56 +0000 juliet.vanwagenen_22746 42446 at Technology Is a Game Changer for the NBA <span>Technology Is a Game Changer for the NBA</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Tue, 10/16/2018 - 12:00</span> <div><p>When Stephen Curry of the Golden State Warriors takes a pull-up 3-point shot in the team’s season-opening game on October 16, he’ll be unleashing what ESPN writer Kevin Pelton has identified as “<a href="">the most important shot in the NBA</a>.”</p> <p>For decades in the past, most attempts taken off the dribble behind the NBA’s 3-point line — at <strong>23 feet, 9 inches</strong> — were considered terrible shots. Coaches implored shooters to get closer to the basket and decried long-distance shots off the dribble as reckless. But more comprehensive statistics show that Curry (perhaps the most proficient shooter in NBA history) scores on average <strong>1.09 points</strong> every time he shoots a pull-up 3. That’s <strong>significantly higher</strong> than the leaguewide average of <strong>1.027 points</strong> per shot, according to Pelton, and it yields an efficiency that requires defenses to account for Curry more closely than nearly every other player in the NBA.</p> <p>This attention opens up opportunities for other Warriors to score more easily (leading analysts such as Pelton to extol the shot’s importance). Other great shooters, such as James Harden of the Houston Rockets and Damian Lillard of the Portland Trail Blazers have also made the pull-up 3 a <strong>weapon rather than a liability</strong>.</p> <p>Detailed analyses of pull-up 3-pointers (and every other shot) are changing the way observers – everyone from grizzled coaches to couch-bound fans – see the NBA.</p> <p>The ability to analyze action on the floor for insights (such as the value of a shot that coaches for years thought was a mistake) has been fostered by the emergence of technologies such as SportVU, a camera system (developed by a company named STATS) that shoots <strong>25 frames per second</strong> and feeds into data analytics solutions. This and other technologies are having a major impact on every aspect of the sport.</p> <p>When the NBA regular season begins this week, technology will play a role in how <strong>coaches break down the game</strong>, how <strong>players prepare for competition</strong>, how teams do business and even how fans see the action.</p> <p><a href="" target="_blank"><em><strong>MORE FROM BIZTECH:</strong> Technology improvements make sports safer for players on and off the field!</em></a></p> <h2>Advanced Analytics Enter the Court</h2> <p>The installation of SportVU cameras in every arena in the NBA (the first major sports league in the U.S. to make a major investment in motion tracking technology) has had a major influence on analysis of the action. The cameras track every movement of every player on the court for every game, <strong>delivering data</strong> such as how fast players move, how many passes they make and what kinds of shots they take.</p> <p>This has enabled the league to develop statistics that have never been possible before, information that helps teams determine which players perform more effectively and which strategies work better. It also helps the league scrutinize the performance of referees and provides deeper engagement with fans.</p> <p>“<strong>We are a league driven by data</strong>, and our expanded partnership with STATS provides our teams and fans with access to uncover groundbreaking statistics,” Steve Hellmuth, NBA executive vice president of media operations and technology, said in a <a href="">league press release</a>. “In this new era of statistical information, SportVU will be an invaluable resource for basketball executives and our passionate fans.”</p> <h2>Teams Shoot for Better Games with VR and AR</h2> <p>The NBA also is incorporating virtual reality and augmented reality technology into various operations. AR and VR solutions can help players improve their games and <strong>help teams improve their relationships with fans</strong>.</p> <p>The <a href="">Washington Wizards</a> have been at the forefront of player training with VR. The team uses VR headsets to help players work on the mental aspects of the game. For example, reserve center Ian Mahinmi used a VR application to work on his free-throw shooting. A career <strong>61-percent foul shooter</strong>, Mahinmi <strong>improved to 70 percent last season</strong> and has shot at an <strong>87-percent </strong>clip from the foul line during this preseason.</p> <p>The NBA also has used AR to engage fans, launching an NBA AR app in October 2017. The app, which is available for both <a href="" target="_blank">iPhone</a> and Android devices, includes <a href="">360 Portals</a>, a feature that allows fans to experience significant moments from the 2018 NBA Playoffs and Finals. </p> <p>“<strong>360 Portals will bring NBA fans behind the scenes</strong> and onto the court, providing a new way to experience the game through augmented reality,” said Melissa Rosenthal Brenner, NBA executive vice president of digital media, in a press release.</p> <p>As the 2018-2019 season gets under way, technology will play an important role in nearly every facet of the game.</p> </div> <div> <div class="field-author"><a href="/author/matt-mclaughlin" hreflang="en">Matt McLaughlin</a></div> </div> Tue, 16 Oct 2018 16:00:59 +0000 juliet.vanwagenen_22746 42441 at 4 Ways to Keep a Closer Eye on Employee Cloud Use <span>4 Ways to Keep a Closer Eye on Employee Cloud Use</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Mon, 10/15/2018 - 16:03</span> <div><p>Think about how many cloud services the average person uses each day. For most, it’s a mixture of services managed by their employer and others chosen for personal use. An IT professional might carefully manage the separation between those worlds, but it’s very easy for users to <strong>accidentally spread information</strong> from their work lives into their personal cloud services.</p> <p>When this happens without the knowledge of the IT department, it exposes the organization to the risk of loss, theft or public disclosure of sensitive information. Here are four ways that businesses can better manage employee use of cloud services to <strong>detect data leaks and repatriate improperly exposed data</strong>.</p> <p><a href="" target="_blank"><em><strong>VIDEO:</strong> See how businesses best manage workloads in the cloud!</em></a></p> <h2 id="toc_0">1. Tap Google Alerts to Spot Data Breaches</h2> <p>Some of the most embarrassing and damaging exposures of sensitive information occur when employees accidentally publish such information on the internet. Administrators can set up a <strong>series of strategic <a href="" target="_blank">Google</a> Alerts</strong> to watch for the presence of sensitive information. For example, a search for “+site: +SSN” might provide an early warning of places where you’ve accidentally exposed Social Security numbers to search engines.</p> <h2 id="toc_1">2. Audit Cloud Permissions to Prevent Accidental Exposure</h2> <p>When employees make use of approved cloud services, be sure to audit the permissions for those services to prevent accidental exposure of sensitive information. It’s best to <strong>conduct regular audits of cloud service permissions</strong>, paying particular attention to publicly shared files.</p> <h2 id="toc_2">3. Deploy a Cloud Access Security Broker</h2> <p>Managing cloud service use and permissions is a time-consuming task for an IT staff. <a href="">Cloud Access Security Brokers</a> (CASBs) alleviate this by providing a <strong>centralized approach to cloud service management</strong>. These solutions monitor cloud service use and watch for violations of the organization’s security policy, ranging from inappropriate permissions to the use of unapproved cloud services.</p> <h2 id="toc_3">4. Implement Data Loss Prevention Tools</h2> <p>Data loss prevention technology <strong>monitors user activity on endpoints and the network</strong>, watching for attempts to transfer sensitive information. DLP systems play an important role in stopping the spread of sensitive information to the cloud by preventing it from leaving the organization. This saves administrators from a time-consuming and embarrassing cleanup effort.</p> </div> <div> <div class="field-author"><a href="/author/mike-chapple" hreflang="en">Mike Chapple</a></div> </div> Mon, 15 Oct 2018 20:03:26 +0000 juliet.vanwagenen_22746 42436 at Robotics and AI Will Quickly Transform Financial Technology <span>Robotics and AI Will Quickly Transform Financial Technology</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Fri, 10/12/2018 - 13:34</span> <div><p>Advances in robotics and artificial intelligence are poised to disrupt several areas of financial services and capital markets, predicts PwC in its recent report, <a href="" target="_blank">“Financial Services Technology 2020 and Beyond: Embracing Disruption.”</a></p> <p>“We are already seeing alliances between leading incumbent financial services and technology companies, using robotics and AI to <strong>address key pressure points, reduce costs and mitigate risks</strong>,” the report states.</p> <p>Cognition and interaction capabilities, in particular, continue rapid advancement in robotics, opening up their potential to eventually perform a greater number of tasks, and more complex ones. Where ATMs today represent a very simple, purpose-built robot, PwC predicts that it won’t be long before robotic process automation will make serious inroads in financial services digital operations.</p> <p>As labor costs in traditional offshoring destinations rise, PwC also predicts that robotics and AI capabilities could also become legitimate substitutes for many human workers. That development could “spur re-shoring, as more tasks can now be performed at a competitive cost on-shore. Even functions that seem dependent on human input, such as product design, fraud prevention and underwriting, will be affected.”</p> <p>Where AI already plays a prominent role in capital markets and high-speed trading, the technology could soon “become a core component of the fund design process, particularly around trading authorizations and hand-offs with human investors,” the report continues.</p> <p>And<strong> by 2020, AI will likely automate many underwriting functions</strong>, “especially in mature markets where data is readily available. Even in situations where AI does not completely replace an underwriter, greater automation would allow humans to concentrate on assessing and pricing risks in the less data-rich emerging markets.”</p> <p>Clearly, PwC sees a banking and financial future well beyond encountering a robot teller at your local bank branch.</p> <p><a href="" target="_blank"><em><strong>DOWNLOAD:</strong> Learn how the right technology can boost cost savings, improve customer experience and improve decision-making!</em></a></p> <h2>PwC’s FinTech Priorities for 2020</h2> <p>The movement to adopt more robotics in banking and financial services is only one of <strong>10 key themes</strong> PwC says IT executives in financial services will need to address as they begin <strong>strategic planning for 2020 and beyond</strong>.</p> <p>In preparing for such disruption, the report also recommends <strong>six priorities for financial services IT</strong>:</p> <ol><li>Update your IT operating model to get ready for the new normal.</li> <li>Slash costs by simplifying legacy systems, taking Software as a Service beyond the cloud and adopting robotics and AI.</li> <li>Build the technology capabilities to get more intelligent about your customers’ needs.</li> <li>Prepare your architecture to connect to anything, anywhere.</li> <li>Pay very close attention to cybersecurity.</li> <li>Make sure you have access to the talent and skills necessary to execute and win.</li> </ol></div> <div> <div class="field-author"><a href="/author/tara-e-buck" hreflang="en">Tara E. Buck</a></div> </div> Fri, 12 Oct 2018 17:34:55 +0000 juliet.vanwagenen_22746 42411 at Splunk .conf18: 3 Takeaways from Orlando <span>Splunk .conf18: 3 Takeaways from Orlando</span> <span><span lang="" about="/user/26806" typeof="schema:Person" property="schema:name" datatype="">daniel.bowman_26806</span></span> <span>Thu, 10/11/2018 - 16:30</span> <div><p>Optimizing the user experience is a major imperative for Splunk moving forward, which was on display time and again at its <a href="" target="_blank">.conf18</a> event in Orlando, Fla., last week. The company’s unveiling of several <strong>new solutions and product upgrades is geared toward making data visualization an easy process</strong> for casual business users, said Andi Mann, Splunk’s chief technology advocate.</p> <p>“For so many organizations, speed is everything,” Mann said. “Obviously, for software-type companies, getting new features out quickly is really important. We have a lot of software companies who use Splunk to help deliver their services. And you start to talk about things like manufacturing: how do you accelerate a production line? Where in your production line are you adding value? <strong>You get the most value out of your data if you get all of your data and share it among all of your business.</strong>”</p> <p>Several companies and organizations at the conference <strong>shared stories that offer valuable lessons</strong> about how to get the most out of a future deployment. Here are three takeaways from the event.</p> <p><a href="" target="_blank"><em><strong>JOIN THE CONVERSATION:</strong> Follow @BizTechMagazine on Twitter for continued Splunk .conf2018 coverage!</em></a></p> <h2>Prioritize Staff Training to Ensure an Effective Deployment</h2> <p>At the <strong>National Ignition Facility</strong> in Livermore, Calif., safety is of the utmost importance.</p> <p>“We’re a large, inertial compliment fusion lighter that is about the size of three football fields,” NIF CTO Phillip Adams said. “Our mission is to study how matter reacts under very high temperatures and very high pressures.”</p> <p>NIF’s <strong>primary focus has been on stockpile stewardship of nuclear weapons</strong>, Adams said — ensuring the nation’s nuclear arsenal is safe, secure and reliable. It uses Splunk’s Enterprise and IT Service Intelligence solutions to boost system uptime and performance and to take a proactive approach to potential IT hurdles. To that end, training is a high priority.</p> <p>Of <strong>1,100 people working on the NIF project, roughly 80 are Splunk power users</strong>, Adams said. Those power users generally are the individuals creating their own dashboards, but they also train the other staffers on how to best leverage Splunk’s data visualization tools.</p> <p>“Make sure that there’s enough training for your folks,” Adams said.</p> <h2>Be Prepared for an Influx of Data</h2> <p>Shenandoah Telecommunications Company, based in Edinburgh, Va., <strong>serving more than 1 million subscribers in rural Virginia, West Virginia, Maryland and Pennsylvania</strong>, uses Splunk User Behavior Analytics to streamline its threat hunting process. In deploying the technology, however, IT Security Analyst John Decker said that at first, the volume and the variety of data uncovered can be intimidating.</p> <p><a href="" target="_blank"><em><strong>DOWNLOAD</strong>: Want to increase your security visibility? Read how next-generation endpoint security, AI and other tools and strategies can help.</em></a></p> <p>“We didn’t know what was out there. We had no clue,” Decker said. “There was stuff we had no idea was going on on our networks that had been running there the whole time. As we went down through there, we were <strong>inundated to the point of data overload</strong>.”</p> <p>Decker also said the variety of information surprised him.</p> <p>“It was a growing experience,” he said. “The more and more we understood how UBA worked, we found that there were more and more things that we knew that were good, and we saw things that were bad. When you start seeing the user behavior analytics — the good and the bad — roll with it for a while, <strong>just roll with it</strong>. In the end, it’s a good thing.”</p> <h2>Businesses Should Embrace Innovation</h2> <p>While companies rolling out Splunk solutions generally have a specific use case in mind, it’s not uncommon to see organizations get innovative with their deployments.</p> <p>“Our customers are some of the most innovative people I know,” Mann said.</p> <p>Case in point: <a href="" target="_blank">BMW, which uses Splunk’s Machine Learning Toolkit</a> to create <strong>reliable traffic models in real time</strong>.</p> <p>“We’ve had the ability to map GPS for a while, but we would never have thought to put our solutions to that use,” Mann said. “We’re data technology geeks. We’re looking at managing data and doing cross-correlations. BMW sees that and goes, ‘Now I can actually use this to manage traffic patterns.’”</p> <p><a href="" target="_blank">Keep this page bookmarked</a> for articles from the event. Follow us on Twitter <a href="" target="_blank">@BizTechMagazine</a>, or the official Splunk Twitter account, <a href="" target="_blank">@splunk</a>, and join the conversation using the hashtag <a href="" target="_blank">#splunkconf18</a>.</p> </div> <div> <div class="field-author"><a href="/author/dan-bowman" hreflang="en">Dan Bowman</a></div> </div> Thu, 11 Oct 2018 20:30:09 +0000 daniel.bowman_26806 42406 at New Technology Strives to Make Sports Safer for Players <span>New Technology Strives to Make Sports Safer for Players</span> <span><span lang="" about="/user/22746" typeof="schema:Person" property="schema:name" datatype="" content="juliet.vanwagenen_22746">juliet.vanwage…</span></span> <span>Thu, 10/11/2018 - 12:11</span> <div><p>Equipment staffers at the <a href="" target="_blank">University of Texas at Austin</a> are <a href="" target="_blank">improving the safety</a> of Longhorn football players by using new <strong>technology inside helmets</strong> to monitor the hits players take.</p> <p>The team is using Riddell InSite Impact Response System <a href="" target="_blank">helmets</a>, according to UT Austin athletic trainer Anthony Pass. The helmets are equipped with <strong>sensors that measure the acceleration of a hit</strong>, as well as the location, direction and severity. The sensors then send this data to a handheld device, enabling training staff to keep tabs on each player during practices and games.</p> <p>“If a hit’s hard enough and the magnitude is great enough, it’ll give me a signal on my handheld device that, ‘Hey, player X has sustained a hit,’” Pass says. “If that hit was there but the magnitude wasn’t as high typically a college player would get, I won’t see that” on the handheld device, he says.</p> <p>UT Austin is one of numerous sports organizations looking to technology to help make sports safer. Frequent concussions and the number of hits that players take have become growing concerns among athletes, coaches and fans, especially in high-impact contact sports such as <strong>football, hockey and soccer</strong>. Solutions that provide more information on the impacts athletes take — and the effects they have — can help prevent serious injuries and lessen their accumulation over time.</p> <p><a href="" target="_blank"><em><strong>MORE FROM BIZTECH: </strong>Check out how VR and drones give sports teams a competitive advantage!</em></a></p> <h2>High-Tech Mouthguards Protect Players</h2> <p>In another <a href="" target="_blank">football-related safety effort</a>, researchers at <a href="" target="_blank">Davidson College in North Carolina</a> received data from numerous college and high school programs that was collected by mouthguards with built-in sensors. These mouthguards also come equipped with a gyroscope and an accelerometer.</p> <p>The gyroscope tracks the location of the player’s head in space, offering precise information about an object’s orientation — similar to the mechanics of a video game controller. The accelerometer measures a player’s speed and movement through space.</p> <p>According to a <a href="" target="_blank">video</a> released by PBS’s NOVA, when a player gets hit, the sensors register not only where the player got hit, but <strong>how hard the player was hit</strong>. If the hit exceeds a certain threshold, the device sends an alert via Bluetooth to a coach or trainer on the sidelines, who can then pull the player off the field for a medical evaluation.</p> <p>Thousands of athletes at all levels use these mouthguard devices, from multiple manufacturers, collecting data about the kinds of hits that are particularly dangerous. Kendall Thomas, an athlete and undergraduate researcher at Davidson, and Tim Chartier, an applied mathematician at Davidson, <strong>analyzed more than 20,000 data points</strong>.</p> <p>They found that when football players become tired, they drop their heads. In other words, they look at the ground as opposed to looking up. Thomas and Chartier say this exposes the crown of the head, putting the neck and spine at risk. The researchers also found that athletes in some positions, such as linemen, get hit more often. These players are hitting the front of their heads during collisions with opponents, then hitting the backs of their heads when they hit the ground.</p> <h2>Wearables Improve Safety on the Field</h2> <p>Following a <a href="" target="_blank">White House summit on concussions in 2014</a>, Seattle-based X2 Biosystems started working with <a href="" target="_blank">Major League Soccer</a> to develop a wearable device that tracked the <strong>number of head hits players take during the course of a game</strong>.</p> <p>The <a href="" target="_blank">X-Patch Pro</a> impact sensors are worn behind a player’s ear, using a small adhesive strip. The sensors record head impacts and send the information to an impact data management app on a tablet device for instant viewing — and action — by coaches and trainers.</p> <p>Professional sports leagues such as the NFL, NHL and MLS are using the devices, as are high school and college programs, as well as the U.S. Army for training exercises.  </p> <p>Although technology can’t alleviate all injuries, these <strong>new devices can point out early warning signs</strong> and notify coaches and trainers of potential issues.</p> </div> <div> <div class="field-author"><a href="/author/biztech-staff" hreflang="en">BizTech Staff</a></div> </div> Thu, 11 Oct 2018 16:11:58 +0000 juliet.vanwagenen_22746 42401 at