UK’s Competition and Markets Authority (CMA), after a market study, stated that the nine biggest banks (CMA9) allow authorized startups and third-party providers (TPPs) access to their data. The Open Banking Implementation Entity (OBIE) was created to help with this. OBIE’s mission is to collaborate with the UK’s top banks [...]
In a rapidly digitizing world, thanks to COVID, cybersecurity has become a key focus of CxOs. Banking, Financial Services & Insurance (BFSI) organizations, which handle users’ and employees’ sensitive financial and personal information, are constantly threatened by cybercriminals. According to Cybersecurity Ventures, the cost of cybercrime will hit $8 trillion in 2023 [...]
A recent report by the UK’s Financial Conduct Authority (FCA) says, “Around 50% of the banks do not upgrade legacy core banking platforms as soon as they should, and 43% of US banks still use COBOL, a programming language dating from 1959.” While majority of the COBOL programmers are enjoying a happy retirement, it is obviously [...]
