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Financial aid fiasco In March, the US Department of Education said it discovered an error in the calculations of financial aid for hundreds of thousands of college students, leading to a delay in aid awards. At the same time, the departments overhaul of the FAFSA form created delays in the financial aid application process.
A Zero Trust platform ensures applications and data are not visible to the public internet and users are only provided least privilege access, preventing lateral movement and protecting against ransomware attacks. Cybersecurity has become a boardroom priority with far-reaching implications for businesscontinuity and reputation.
When astute executives, including CIOs, cheat disruption by focusing on businesscontinuity management (BCM) programs that build resilience, the enterprise transformation can prosper. CIOs should apply a business lens that informs how the business could be impacted (operationally, financially, legally, etc.)
This is particularly true when a thorough total cost of ownership and FinOps analysis hasnt been conducted to maximize the business value of cloud investments and enable timely, data-driven decision-making. Optimizing resources based on application needs is essential to avoid setting up oversized resources, he states.
As industry leaders, cybersecurity professionals, and technology innovators gathered at the Wassaja Conference Center in the Phoenix metropolitan area, conversations consistently returned to how these advanced technologies are reshaping the strategic, operational, financial, and technological dimensions of cybersecurity.
And while 99% of packages have updated versions available, 80% of application dependencies remain un-upgraded for over a year. Resilience tactics can also correlate individual failures to direct financial repercussions. Investment in resilience is an investment in businesscontinuity.
Similarly, the financial sector will see continued growth in fintech, digital payments and open banking, with cities like Dubai and Riyadh becoming central fintech hubs in the region. The Internet of Things will also play a transformative role in shaping the regions smart city and infrastructure projects.
Better Late Than Never: There’s Still Time To Improve Your Pandemic Plans Companies are showing renewed interest in businesscontinuity and revising their pandemic plans in response to the coronavirus outbreak. And, a review of the risk sections of the annual reports for the Fortune 50 showed that about half […].
If these systems go down due to a natural disaster, temporary power outage, loss of data center, ransomware or hacker attack, lost or corrupted files, or an application failure due to a software virus, the results can inflict significant financial harm. In the worst case, the business will be unable to continue functioning.
In fact, successful recovery from cyberattacks and other disasters hinges on an approach that integrates business impact assessments (BIA), businesscontinuity planning (BCP), and disaster recovery planning (DRP) including rigorous testing. Disaster recovery is more than just an IT issue.
This may involve identifying compromised servers, web applications, databases, or user accounts. The focus now shifts to ensuring businesscontinuity. A well-structured BCP ensures that critical operations can continue or resume swiftly. ISO 22301:2019 is a leading framework here.
Shashank Jain, CIO at the financial services firm, Shree Financials, suggested a strategic shift. Saurabh Gugnani, Director and Head of CyberDefence, IAM, and Application Security at Netherlands-headquartered TMF Group, added that a diversified approach to cloud strategies could mitigate such risks.
As a result, software supply chains and vendor risk management are becoming ever more vital (and frequent) conversations in the C-suite today, as companies seek to reduce their exposure to outages and the businesscontinuity issues of key vendors their businesses depend on. An extra layer of redundancy may become critical.”
“If, for example, there’s an immediate or gradual interruption of essential services provided by the client company, there’ll surely also be effects on daily operations or businesscontinuity that may result in chain breaches of contract,” he says. Another possibility is that the company that disappears is a reseller.
src="[link] alt="alex tan" loading="lazy" width="400px"> Alex Tan Group Chief Information Officer (Yinson) As 2025 unfolds, we foresee a shift in the technology landscape: The generative AI (genAI) frenzy will give way to pragmatic applications, commencing with bespoke in-house chatbots that streamline operations.
Achieving such portability requires organizations to create and maintain hybrid connectivity for application migration and ongoing workload rebalancing. No matter what platform they are running on, they must always meet security, compliance, performance, availability, and financial needs.
Skills: Skills for this role include knowledge of application architecture, automation, ITSM, governance, security, and leadership. It’s a role that focuses on the deployment of automated applications, maintenance of IT and cloud infrastructure, and identifying the potential risks and benefits of new software and systems.
The US financial services industry has fully embraced a move to the cloud, driving a demand for tech skills such as AWS and automation, as well as Python for data analytics, Java for developing consumer-facing apps, and SQL for database work.
The US financial services industry has fully embraced a move to the cloud, driving a demand for tech skills such as AWS and automation, as well as Python for data analytics, Java for developing consumer-facing apps, and SQL for database work.
Thirty years ago, Adobe created the Portable Document Format (PDF) to facilitate sharing documents across different software applications while maintaining text and image formatting. Today, PDF is considered the de facto industry standard for documents that contain critical and sensitive business information.
Serving leaders in the energy, fashion, financial services, food, healthcare, manufacturing, media, pharmaceutical, professional services, retail, and telecommunications industries, WIIT works with organizations that have stringent businesscontinuity needs, mission-critical applications, and crucial data security and sovereignty requirements.
These include the automotive, financial services, health care, law enforcement, manufacturing, and retail sectors. We recently caught up with Antonio Medianero, director of cloud application at Fujitsu Services España S.A. Fujitsu offers a wide range of consulting services and infrastructure and businesscontinuity solutions.
Continuous improvement and review Stay informed: Keep abreast of industry trends and incidents like the CrowdStrike outage to learn from the experiences of others. This knowledge can inform your own risk management and businesscontinuity strategies.
In banking and financial services applications, for example, GenAI solutions are being developed to analyze customer data, market data, economic trends, and more to help support highly personalized insights and guidance. This is a challenge for many CIOs.
In the past, investing too little in security meant accepting a higher risk of intrusions that could lead to significant financial pain. Underinvesting in security now means accepting a higher risk of being knocked entirely out of business. Security is, for today’s CIO, a two-edged blade. One sharp edge is underinvesting in security.
In addition, with Google and Microsoft, Oracle has interconnect agreements in place so that users are not charged for moving data out of Oracle Cloud and into Google and Microsoft, says Adam Reeves, IDC research director on PaaS for developers of modern and edge applications. “It
The economy of Bahrain, an archipelago of islands in the Arabian Gulf, has always been open and diversified, with particular strengths in financial services, manufacturing and logistics. A new IDC study details the Kingdom’s sustained effort to build a future-ready technology ecosystem, which analysts describe as a “remarkable” achievement.
Meanwhile, the corporate philosophy of Generalfinance, a financial services company focused on SMEs in difficulty, also combines innovation and sustainability. Business plans are focused on digital and sustainable transformation to bring us closer to the goal of a data-driven company,” says its CIO, Stefano Biondini.
Digitization has transformed traditional companies into data-centric operations with core businessapplications and systems requiring 100% availability and zero downtime. Most of Petco’s core business systems run on four InfiniBox® storage systems in multiple data centers. They wanted to improve operational efficiency (i.e.
They also know that without a reliable disaster recovery (DR) solution to protect business-critical applications, all their modernization efforts could be rendered moot in a matter of seconds. Since this average includes small businesses, the actual per-hour cost to mid-size and enterprise businesses actually surpasses $1 million.
As businesses digitally transform, technology is increasingly integrated into every activity, and the CIO is becoming more of a catalyst for data-driven value creation through analytics, new AI model training, software development, automation, vendor engagement, and more. Standard or customized products?
Building a successful data strategy at scale goes beyond collecting and analyzing data,” says Ryan Swann, chief data analytics officer at financial services firm Vanguard. Establishing data governance rules helps organizations comply with these regulations, reducing the risk of legal and financial penalties.
A cyber resilience solution is deemed effective when it provides guaranteed availability and a fully scaled data restoration for businesscontinuity. An enterprise can now do a mix of CAPEX and OPEX, reaping the financial benefits of only using the storage capacity that is needed. Slow application and workload performance.
A cyber resilience solution is deemed effective when it provides guaranteed availability and a fully scaled data restoration for businesscontinuity. An enterprise can now do a mix of CAPEX and OPEX, reaping the financial benefits of only using the storage capacity that is needed. Slow application and workload performance.
For example, McKinsey suggests five metrics for digital CEOs , including the financial return on digital investments, the percentage of leaders’ incentives linked to digital, and the percentage of the annual tech budget spent on bold digital initiatives.
He will lead technology initiatives for the Poonawalla group in its quest to build a world-class digital technology-based platform for financial services. He was CTO at L&T Financial Services before joining Poonawalla. Jai Menon has joined Skylo, a narrow-band satellite communications provider that targets IoT applications, as CIO.
Here's an alarming stat from Accenture: more than one-third of cyberattacks are aimed at small businesses, but only 14% of them are prepared to defend themselves. The pandemic, geopolitical factors, and the new hybrid/work-from-home landscape put midsize companies at 500% more risk of being targeted in 2021. The key is to minimize any damage.
Cybersecurity is increasingly crucial in our digitized world, where personal, financial, and corporate data are constantly at risk of exposure. With data breaches and cyberattacks mounting, businesses face financial and reputational damage, making robust security measures essential.
This article studies resilience concerning cybersecurity and provides applicable insights that organizations can use as guidelines in building immunity against evolving threats. Cyber resilience is essential: it is the capacity to anticipate and plan recovery from Adverse Cyber Events or even adapt seamlessly after the occurrence.
Researchers from Zafran have identified a critical misconfiguration in Web Application Firewalls (WAF) from major providers, including those from Akamai, Cloudflare, and Imperva. The misconfiguration stems from a lack of proper validation between backend web applications (origin servers) and the CDN layer. million per incident.
Shadow IT risks: Employees using unauthorized applications and services undermine governance efforts. The shift to continuous, adaptive governance Traditional governance models often rely on periodic audits and compliance checks, but these are no longer sufficient in a world where threats evolve daily.
The pivot back to foundational IT work was reflected in CIO.com’s 2022 State of the CIO research , which surveyed 985 IT leaders and 250 line of business (LOB) participants. based financial services company Synchrony. As always, it’s a tale of having to do both,” notes Bess Healy, senior vice president and CIO at Stamford, Conn.-based
Business owners need to understand that they are increasing their business’ cyber-attack surface. In the event that a cyber-attack is successful, the downtime could spell financial disaster for an organization. With cyber-attacks against UK organizations increasing in 2019 , businesses can’t afford to take risks.
Within the past few years, a number of financial-services firms have adopted this approach using Egeneras PAN Manager software: Commerzbank NA: After the 9/11 terrorist attacks, Commerzbank NA launched an initiative to enhance its disaster-recovery strategy. IT Financial Management. (4). as estimated for its legacy architecture.
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