CFE Certification’s Post

Finance is more digital than ever, but these technological advancements also bring risks and a new age of cyber threats. In response, the E.U. launched the DORA. Blackcatcard CTO Olegs Cernisevs suggests how this will impact the fintech landscape. https://buff.ly/4ceVEx1 #FinTech #FinServ #Banking #Regulation

🔍 Learning from Payment System Failures and IT Outages Recent high-profile payment system failures and IT outages have exposed significant vulnerabilities in our digital infrastructure. This insightful article from The Fintech Times explores the root causes, impacts, and preventative measures to enhance system resilience and minimize downtime. Essential reading for anyone aiming to strengthen their organization's digital reliability. 🔧 Root Causes: Understand the technical and human errors leading to failures. 🌍 Impact Analysis: Examine the economic and operational repercussions. 🛡️ Preventative Measures: Learn best practices for enhancing system resilience. 📝 Case Studies: Review notable incidents and recovery steps. #Fintech #ITOutages #PaymentSystems #DigitalResilience #TechIndustry #BusinessContinuity #CyberSecurity

As the January 2025 deadline approaches, we'll increasingly see how DORA (Digital Operational Resilience Act) is reshaping operational risk management for financial institutions, with a focus on: - ICT Risk Management: Ensuring robust frameworks to manage IT risks. - Third-Party Risk: Monitoring and analyzing risks from third-party providers. -Incident Reporting: Logging and reporting IT incidents promptly. - Resilience Testing: Regularly testing and improving IT security. - Information Sharing: Encouraging the exchange of cyber threat intelligence with authorities. These measures help institutions safeguard their digital operations against evolving cyber threats It would be great to understand what are the implementation costs.

What Does DORA Mean for the EU Fintech Landscape? Finance is more digital than ever, but these technological advancements also bring risks and a new age of cyber threats. In response, the E.U. launched the Digital Operational Resilience Act (DORA). Blackcatcard Chief Technology Officer Olegs Cernisevs discusses how DORA will impact the fintech landscape in the EU below! #DORA #Resilience #Fintech

🌐 Get Ready for DORA Compliance! 🔐 The Digital Operational Resilience Act (DORA) is here to strengthen the IT security of financial organizations across the EU, and it’s time to prepare. By January 2025, financial institutions must comply with DORA's regulations, requiring robust ICT risk management, incident management, and supply chain security measures. This applies not only to traditional banks but also to growing sectors like crypto and fintech. 💼💻 With cyberattacks on financial institutions soaring 📈, DORA is crucial for ensuring operational resilience. One essential element? Penetration testing (pentesting)—helping you detect vulnerabilities before they become risks. 🚨 At HackerOne, we provide security solutions that align perfectly with DORA’s requirements, from Pentesting as a Service (PTaaS) to Code Security Audits and Bug Bounty programs. These services ensure your organization stays compliant and resilient. ✅ 👉 Want to learn more? Check out the article below! #DORA #Cybersecurity #Compliance #Hackerone #FinancialServices #Pentesting #DigitalResilience #Fintech

How to Navigate the Choppy Waters of FinTech Risks 🤔 I believe the biggest FinTech risk isn't data breaches or cyberattacks, but the erosion of trust. As innovation races forward, we're building a house of cards on consumer confidence. Every instance of fraud, every system glitch, shakes that foundation. FinTech has the potential to revolutionize finance, but only if we can assure users their money is safe. It's not just about robust security systems; it's about transparency, accountability, and empathy. We need to shift from a "move fast and break things" mentality to a "build slow and build trust" approach. Every new feature, every expanded service, brings new risks. We must invest as much in risk mitigation as we do in feature development. It's time for a risk-reward calculus that prioritizes the latter. What do you think is the most critical FinTech risk we face today? Let's start a conversation. #fintech #fintechrisks #cybersecurity #financialInnovation #riskmanagement 

Totally enjoyed my interview with the staff at CEO Insights Asia. Thank you for publishing my thoughts on the #fintech industry. As the industry grows there will be a need for closer international cooperation and harmonization of regulatory approaches to better facilitate #crossborderpayments and address #financialcrime #risks and #cybersecurity threats. I expect to see increased collaboration among #regulators, industry stakeholders and international organizations to develop common #paymentsindustry standards, promote #interoperability and mitigate #regulatory arbitrage.

From a #Cybersecurity standpoint, this article makes the case that by using fintech firms “society (is) trading security for convenience.” “For now, businesses should take an overly conservative approach when utilizing fintech. While these services are almost impossible to fully avoid, businesses should be careful when it comes to selecting the services they need. By treating fintech services as luxuries rather than necessities, businesses can minimize some of the inherent risks.” https://buff.ly/3YmO14s #FinTech #FinServ #Banking

Navigating Regulatory Challenges in the Fintech Era In an interaction with #CEOInsightsAsia, Frans highlights the current scenario of Fintech industry, regulatory compliance and corporate governance for addressing cybersecurity risks and its impact on Fintech developments. Catch the full story here: https://goo.su/WoYe3O Frans Wiwanto 黄正一, MD-APAC, Flywire #Fintech #cybersecurity #Fintechdevelopments #fosteringinnovation #datadriventechnologies #cybersecurityrisks #technologicalinnovation

Last month, Finastra—a major fintech company serving 45 of the top 50 banks - disclosed a significant data breach. Hackers infiltrated their secure file-transfer platform, stealing 400 gigabytes of sensitive data (The Wall Street Journal). This incident underscores a critical point for tech start-ups and scale-ups: no one is immune to cyber threats. If industry giants can be compromised, emerging companies must be even more vigilant. Key Takeaways: ❗ Secure Your File Transfers: Utilize robust, secure methods for transferring sensitive data. ❗ Monitor for Suspicious Activity: Regularly audit your systems to detect and respond to anomalies promptly. ❗ Educate Your Team: Ensure all team members are aware of cybersecurity best practices to prevent breaches. #CyberSecurity #TechStartUps #ScalingSecurely #WhySENTRA https://lnkd.in/enMu4gyv