Maersk Says June Cyberattack Will Cost It up to $300 Million

Maersk Says June Cyberattack Will Cost It up to $300 Million

The announcement was made in connection with second-quarter earnings, which showed Maersk missed analyst estimates after taking a writedown at the tankers unit that’s part of the energy business management has said it wants to get rid of. In an interview with Bloomberg Television, Chief Executive Officer Soren Skou said the industry outlook was bright, »

Hackers breach 400,000 UniCredit bank accounts for data

The attack occurred in September and October of 2016 and June and July of this year, according to an emailed statement from the bank on Wednesday. UniCredit only discovered the breaches this week, two people familiar with the matter said, asking not to be identified discussing a possible criminal matter. Cyberattacks on corporations and banks »

Singapore regulator creates data analytics group

Singapore regulator creates data analytics group

The Monetary Authority of Singapore (MAS) has created what it is calling its Data Analytics Group (DAG), which it will task with leveraging the power of data to enhance its supervision of financial institutions. MAS says it believes this will decrease the cost of compliance for financial firms through the use of analytics, and increase »

ANZ creates role of Chief Data Officer

ANZ, Australia’s fourth largest bank, has announced it is appointing Emma Gray as the firm’s first chief data officer. She will be responsible for the bank’s data strategy, which includes how data is defined, gathered, managed, and made secure. Gray’s employment history lies outside of the financial sector. Previously, she was Chief Loyalty and Data »

Tech Hiring Spree Sees Russia’s Sberbank Catching Up on Big Data

Russia’s biggest bank is paying up to keep the nation’s best tech talent from emigrating to Silicon Valley. To analyze 135 million customers, it needs the power of big data. Sberbank PJSC, which holds 46 percent of Russian retail deposits, says it’s luring experts in the field with some of the highest salaries at the »

Video interview: Jason Anders, technology director at Fannie Mae

Video interview: Jason Anders, technology director at Fannie Mae

Speaking at the QA Financial Forum New York on November 29th, Fannie Mae Technology Director Jason Anders explained how and why the US government-sponsored mortgage securitisation agency created a centralised test data management team. In this brief video interview recorded at the Forum, Anders explains how centralising data delivery speeds up the test cycle. Anders »

Two Sigma Says Artificial Intelligence Lacks Smarts

Siegel, who has used AI to build his Two Sigma Investments into a $37 billion hedge fund firm, said algorithms are limited by the scant amount of training data available to instruct them on how to differentiate objects in images. “Artificial intelligence today doesn’t have anything that resembles common sense, and common sense is a »

Trade bodies criticise SEC’s plan for consolidated audit trail

The US Securities and Exchange Commission’s plans for its consolidated audit trail (CAT) for securities markets — which the SEC wants up and running in 2017 — have been criticised in comment letters from two leading trade associations. Described as “the largest financial IT project of all time”, the idea of a the giant data repository for »

IBM Blockchain supports testing feature

IBM has released a new testing functionality on IBM Blockchain; the service delivered via IBM’s Bluemix platform providing tools for Blockchain developers. IBM Blockchain was first launched on April 29th, and is based on the Linux Foundation’s open-source Hyperledger project. Rashik Parmar, lead cloud advisor for Europe at IBM, said that IBM Blockchain allows firms »

New EU data protection rules carry clout

Software developers who use customer’s personal data in test environments should get to know the European Union’s General Data Protection Regulation (GDPR), which has now been approved by the European Parliament. The GDPR is designed to protect the privacy of consumer data gathered by firms operating in the EU and, while European regulators already have »

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