Four Tips to Improve Monitoring and Compliance Demands

May 29, 2020

Last week, I hosted a complimentary webinar for members of the Community Bankers Association of Kansas, and feedback showed that top industry concerns were monitoring and compliance demands. Training and resources regarding due diligence, cybersecurity, IT management and risk management can help banks with oversight and accountability regarding confidentiality and the integrity of their data.

Guarding Against Virtual Viruses in a Pandemic

May 11, 2020

As healthcare experts work to mitigate the Covid-19 pandemic, the banking industry is faced with fighting other viruses.

Cyber attackers are known to be opportunistic, pouncing during times of anxiety and uncertainty. Rest assured, they won’t let up once the coronavirus has run its course. While information technology directors are focusing their attention on processing huge volumes of Small Business Administration loans and assisting bankers working remotely for the first time, computer virus and malware threats continue to rise. If not handled effectively, this could threaten the security of the financial system.

Returning to (More Normal) Work

May 6, 2020

Businesses leaders across the nation have begun to have the conversation about returning to work. For BankOnIT, business has not slowed and work continued, but safety and well-being were a top priority.

BankOnIT provides IT technology ranging from internet services and network hosting to continuous security. Designed exclusively for the banking industry, nearly 200 people work to provide 24/7/365 support of the systems and client bankers that utilize BankOnIT’s services.   

De -Risk Your IT Services Supply Chain - 7 Keys

April 29, 2020

Stories of surprising supply-chain vulnerabilities exposed by the COVID-19 pandemic are becoming all too familiar. First it was medical supplies – equipment, PPE and swabs. Then it was pharmaceuticals.    

Less well known are supply-chain vulnerabilities that are hidden from view. Unseen suppliers behind a visible firm are a critical link that can break the chain.

Exposure to supply-chain disruptions for financial institutions is different, but very real. For FI leaders, it’s their services supply chain that demands attention.

FBI Warns of Increase in COVID-19 Related Cybersecurity Attacks

April 9, 2020

The Federal Bureau of Investigation (FBI) issued an alert this week regarding Business Email Compromise (BEC) attacks. Opportunistic cyber attackers are using the disruption surrounding COVID-19 to perform these and other types of attacks. 

Work From Home - Bring Your A-Game to the Next Web Conference

April 7, 2020

BankOnIT’s client financial institutions from Vermont to California have 15 times more bankers with remote-working capabilities than a month ago. Most of that happened one week in mid-March when we had a hockey-stick spike in requests for work-from-home (WFH) capabilities. 

One of the things we do is help make those remote-working connections seamless and secure, specifically meeting financial-institution needs.  

Information Technology for Directors Q2 2020

April 2, 2020

Plan for COVID-20, 21, 22…

Dr. Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases, stated about COVID-19, “I know we’ll be successful in putting this down now, but we really need to be prepared for another cycle.” Fauci cautioned that Americans need to be prepared for the possibility that COVID-19 could become a seasonal disease.

Consider needs your institution will have for future cycles of this virus.  

Information Technology for Directors Q1 2020

January 6, 2020

2020 will be like 2019 – More Threats and Greater Risk than Before

The risks banks face today from cyber threats are greater than at any time in the past, and these risks are growing. The first 6 months of 2019 reflected a 54% increase in data breaches over the same period in 2018.* 

Nation states, terrorist organizations and organized crime have all moved online and have a varying degree of cyber warfare capabilities at their disposal. Nation states and their proxies seeking to use cyberattacks is a real threat as we start 2020. 

Was Your BSA Officer Targeted?

May 7, 2019

Recently, a number of fraudulent emails were sent to BSA officers at banks and credit unions across the country. The fraudulent email looked like it was sent by a BSA officer at a credit union, asking the recipient for help with a money laundering issue involving a mutual customer; however, the email was actually sent by an attacker.

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