Round-up: Regulatory and Company News

Banks under attack warns SWIFT, UL develops payments testing tool, and more.

SWIFT criticises negligent banks in leaked email

SWIFT, the interbank payments consortium, has warned banks that there have been successful cyber attacks on its members since the $81m February theft from the Bangladesh central bank. In a letter obtained by Reuters, SWIFT suggested that the attacks exploited lax security measures to send fraudulent transfer requests.

SWIFT has repeatedly urged banks to improve security. Now it is threatening to report non-complying banks to regulators if they have not updated their software to the latest version by November 19. The update includes technology that helps verify user-credentials, stricter password management requirements, and improved anti-hacking software.

Norwegian payments system ready for testing

Global safety science firm, UL, has made its UL Brand Test Tool (BTT) compatible with Norwegian BankAxept terminals. It is the first testing tool officially accepted by the Norwegian payments system.

BankAxept is owned by Norwegian banks, and more than 90% of in store POS transactions are conducted through it. BankAxept commissioned UL to develop a solution to test POS and ATM terminals. After identifying a terminal’s configuration, UT’s BTT automatically determines what tests to run. Once testing is complete, it generates a report for BankAxept approval.

Øyvind Apelland, CEO of BankAxept, said that: “After a long and prosperous collaboration with UL, we are confident that the BankAxept module in the UL BTT will help terminal and ATM vendors to develop products that meet our needs and requirements.”

Blueprint and QASymphony announce partnership

Toronto-based project delivery software vendor Blueprint has partnered with QASymphony, a software company based in Atlanta, to integrate business and test requirements for app development.

The two software firms have launched a platform that combines their respective services into one offering. QASymphony’s qTest test management software helps manage Blueprint’s user stories, visual models and automatically-generated tests. The new integrated platform is specifically addressed to customers moving to agile delivery.

“The Global 2000 are moving away from legacy software to modern solutions that improve quality and speed-up the time-to-market,” said Dave Keil, chief executive officer, QASymphony.

“Blueprint’s unique application lifecycle management platform with its automated test generation capabilities, combined with QASymphony’s agile test management software, provides an end-to-end solution to improve test coverage across the enterprise. This will help global enterprises deliver higher quality applications to their end users at an increasingly rapid pace,” he added.

US credit unions band together for cyber resilience

The National Credit Union Information Sharing & Analysis Organization (NCU-ISAO) announced that it has been founded to promote cyber resilience and to increase information sharing in order to bolster security.

Gene Fredriksen, executive director of the NCU-ISAO, said that this was the first organisation for intelligence sharing solely for credit unions.

“Because the information sharing needs for credit unions encompass more than just cyber threats, the NCU-ISAO will support innovative, member driven initiatives around benchmarking, process improvement, and regulatory strategies,” said Fredriksen.

NCU-ISAO’s remit includes: the identification of cyber risks, intelligence gathering, informing members on potential risks, acting as a venue for sharing cyber intelligence, incident response, and the development and adoption of cyber resilience best practices.

Michael Echols, director of the Cyber Joint Program Management Office of the U.S. Department of Homeland Security, said: ““Credit unions are an integral part of the community network that forms our way of life. As such, it is critical that sub-sectors like credit unions unite to assure the cyber resilience of threats unique to them.”

Eurofins acquires Swedish testing firm

UK Quality Assurance provider Eurofins has acquired Swedish firm Labatush, a provider of test automation software. Eurofins will be expanding its geographic presence to include offices in Sweden, as well as an office in Gdansk in Poland.

 

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