Weekly research highlights 31 July 2020

Weekly research highlights 31 July 2020

Weekly research highlights 31 July 2020

The 2020 SonicWall Cyber Threat Report provides new information on latest cyber attacks and how firms such as Microsoft have been a target. Hackers are now moving from the attack vectors like PDFs to Office Documents. The most important vulnerability highlighted in the report regards Equation Editor, which is available in all versions of Microsoft Word since Office 2007. Read more

A new FinTech Futures report explores the obstacles that the wealth management industry has been facing lately, such as transitioning towards a technological domain. The report finds solutions and gives recommendations in terms of technological innovations that can help wealth managers navigate through this economic turmoil, regulatory variation and deal with customer experience demands. Read more

McKinsey & Company explores in their report “Banking system resilience in the time of COVID-19” the economic impact of COVID-19 on banks, companies, financial markets, and policy makers. The report provides different scenarios that can be expected for the banking industry for the near future, most probably with banks moving from a capital “cushion” to a danger zone. Read more

The World Economic Forum’s “Global Risks Report 2020” stated that cyber threats are among the most important threats to be noticed by society and economy. Especially for the finance industry, cyberattacks are happening frequently. Since cybersecurity can be costly and also involve many resources, the report advises fintechs to gather information from industry experts, governments and nonprofits, regularly update control frameworks and further build these frameworks in accordance with guidance from international finance bodies. Read more

Rise Fintech Insights report brings the latest news on how fintechs are opening up credit for small businesses, the role of challenger banks, developments in cross-border credit systems, open banking and digitisation technologies, how emerging markets are leading the way and how diversity also plays a part. Moreover, according to Word Bank, approximately 30% of people don’t have a transaction account, out of which only ⅔ own a mobile phone, thus fintech can bring many solutions for this audience. Read more

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