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Finance

What does Managed IT mean for Banks?

Managed IT for banks

In the digital age, many aspects of banking rely on IT. Having the right Managed IT provider is critical for a bank’s ability to successfully operate and grow. There are five main areas which can be improved by IT and change the big picture for a bank.    Security  For banks, security is a top priority as they deal with

How the financial industry is vulnerable to cyber attacks

Financial Cyber Attacks

The financial industry is a very attractive target for cyberattacks. As of today, we know a couple of extremely “successful” International attacks. For example, in 2016, a hacker attack cost Bangladesh’s Central Bank $100 million. The same year, the Russian Central Bank lost $31 million. Since then, cybersecurity concerns are just growing and hackers’ interest is increasing. With the increased threat, the need for better cybersecurity became critical.  Cyberattacks can be damaging in many ways:  1. Damage can be as much as half of