WEF creates fintech cyber security consortium

Latest News

WEF creates fintech cyber security consortium

By Mark Evans

06/03/2018

The World Economic Forum (WEF) has founded a consortium with the aim of improving cybersecurity in financial technology companies.

The group will create a framework to help assess the security and protection of fintech companies and data aggregators against a rising tide of hacking and attacks. Members include Citigroup, online lender Kabbage, the Depository Trust & Clearing Corporation, Zurich Insurance Group and Hewlett Packard.

The need for better cybersecurity assessment mechanisms has been specified by a WEF report that also noted that the use of robotics and biometrics was expanding the amount of customer data at risk, and that directives such as the Open Banking standards are allowing more potential weak points as traditional banks hook up with newer financial technology companies.

The new consortium will work alongside WEF’s Geneva-based Global Centre of Cybersecurity.

The future-ready CFO: Driving strategic growth and innovation

This National Technology News webinar sponsored by Sage will explore how CFOs can leverage their unique blend of financial acumen, technological savvy, and strategic mindset to foster cross-functional collaboration and shape overall company direction. Attendees will gain insights into breaking down operational silos, aligning goals across departments like IT, operations, HR, and marketing, and utilising technology to enable real-time data sharing and visibility.

The corporate roadmap to payment excellence: Keeping pace with emerging trends to maximise growth opportunities

In today's rapidly evolving finance and accounting landscape, one of the biggest challenges organisations face is attracting and retaining top talent. As automation and AI revolutionise the profession, finance teams require new skillsets centred on analysis, collaboration, and strategic thinking to drive sustainable competitive advantage.