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Industry Dynamics

To Stop Data Breaches, Start with Databases

Large-scale data breaches have become so common that even tens of millions of records leaking feels unremarkable. One frequent culprit that gets buried beneath the headlines? Poorly secured databases that connect directly to the internet. While companies commonly use these databases to store tempting troves of customer and financial data, they often do so with outdated and weak default security ... Read More »

German Cyber Crime Rose 80% in 2016 According to the Latest Statistics Issued by German Ministry of Interior

The German government registered 82,649 cases of computer fraud, espionage and other cyber crimes in 2016, as compared to 2015 statistics of 45,793, an increase of just over 80 percent from 2015.  The German Interior Minister Thomas de Maiziere released the new statistics, as part of the government’s annual crime report on Monday April 24, 2017.  Only 38.7% of the ... Read More »

Creditinfo to Launch Collateral Registry as a Stand-alone System

Creditinfo Decision Analytics is launching the Collateral Registry as an essential stand-alone solution to contribute in ensuring a healthy financial ecosystem by enabling to centrally manage information on collaterals and thus avoid duplications or potential fraud. This new product is key for all markets that are proactive in building a strong financial ecosystem and grow their economies. Collateral registry fulfills two ... Read More »

Fintech Start-up Cloudcase Provides Lending Solution for New Zealand’s TSB Bank

TSB Bank in New Zealand is rolling out a new lending solution from Australia-based fintech start-up Cloudcase. The bank states the new system “substantially reduces the time to process a loan from application to contract with multiple business efficiencies and customer benefits”.  The project started in January last year and has been a collaborative effort of TSB Bank’s technology teams ... Read More »

Cybersecurity Breaches Cost UK Businesses Close To £30bn Last Year

New research published by Beaming, a business ISP, reveals that more than half (52 percent) of British businesses fell victim to some form of cyber-crime in 2016.  Beaming’s study, which was conducted by researchers at Opinium, indicates that 2.9 million UK firms suffered cyber-security breaches nationwide last year, at a cost of £29.1 billion. Computer viruses and phishing attacks were the most ... Read More »

Korean Credit Bureau Net Profits Up 31%

The combined net profit of six credit bureau firms in South Korea jumped 31 percent on-year in 2016, as they expanded their business portfolio into new sectors, the nation’s financial regulator said Tuesday. The combined net income of the six credit bureau firms, which collects and evaluates credit data between consumers and financial firms, stood at 57.2 billion won ($51.3 ... Read More »

Arvato Financial Solutions Increases Stake in Brazilian Financial Services Provider Intervalor

Arvato Financial Solutions is taking its step-by-step option and has increased its holdings of Intervalor shares to 81.5 per cent. After initially acquiring 40 per cent of interest in Intervalor shares in June 2015, this is a further important step within the consistent internationalization of Arvato Financial Solutions. Both parties have come to an understanding that the financial details of ... Read More »

Why SMEs Need Cyber Insurance

Almost three-quarters of small and medium-sized businesses have suffered a security breach, and a report from the Federation of Small Business (FSB) says cybercrime targeting small and medium-sized businesses costs the UK an estimated £5.26bn a year.  The report also notes that it costs small businesses disproportionately more than big businesses, when adjusted for organisational size. Mike Cherry, National Chairman of the ... Read More »

US Risk Climate: Small Business Owners Remain Optimistic

A surge in small business optimism that started last November was continued in March, according to the National Federation of Independent Business’ (NFIB) Small Business Optimism Index. Though the index slipped slightly, it still posted a strong reading, with gains in actual earnings, capital expenditure plans and job-creation plans. Sales expectations, however, dropped eight points, signaling that the index could ... Read More »

Kreditech Russia Achieves Microfinance Company Status

Kreditech Group’s subsidiary, LLC MFC “Kreditech Rus”, received the status of a Microfinance Company (MFC) on March 27, 2017 from the Central Bank of Russia. A new federal law in Russia aims to make the microfinance market transparent and understandable. It therefore requires the MFC status for all alternative lending companies operating in the country. As a Microfinance Company, Kreditech Russia ... Read More »

IBM Launches Blockchain Supply Chain for Chinese Pharma Retail

IBM is firmly solidifying its proactive lead as a blockchain solutions provider with another launch of a blockchain platform in China, this time in the pharmaceutical retail sector. Developed in partnership between IBM and Chinese supply chain management firm Hejia, the Yijian Blockchain Technology Application System was launched this week with the aim to improve the operational efficiencies of supply ... Read More »

Neustar and Google Partner to Help Brands More Accurately Measure the Impact of Their Marketing

Neustar, Inc. (NSR), a trusted, neutral provider of real-time information services, announced a new advanced marketing analytics partnership with Google. As a Google Marketing Mix Model launch partner, Neustar will help marketers more accurately analyze how their marketing investments are driving sales and help them optimize their advertising spend across multiple brands, channels and regions. This turnkey analytics offering will ... Read More »

Kreditech Appoints Senior Global Consumer Bankers to its Advisory Board

Michael Lenora, former CEO of Vanquis Bank, appointed as Independent Chairman of the Board and Andy Golding, CEO at OneSavings Bank, as Independent Board Member The Hamburg based consumer finance technology company Kreditech has appointed two new independent Board Members to further strengthen its Advisory Board: Michael Lenora joined as Independent Chairman, Andy Golding as Independent Board Member. These recognized experts ... Read More »

Global5,000 Database Updated

Global5,000, which is probably the World’s smallest, but unique marketing database, is reporting the latest changes in its database. During Q1 2017 Global5,000 added 54 new companies to the database and deleted 70 records primarily due to M&A activity.  Also, during the quarter, 1,688 records were updated.  The currency level of the database now exceeds 98% — meaning over 98% ... Read More »

Cyber Insurance: 7 Questions to Ask

Cyber insurance is a growing field putting business and security leaders to the test as they navigate the often tricky process of researching and purchasing policies. Technology is quickly changing, and so is risk.  Insurance for cyber-security is different from other types of insurance because the nature of threats is constantly changing. A hurricane doesn’t change intensity because a building ... Read More »