The recent ransomware attack on Ascension, a prominent US-based healthcare organization, has stirred considerable concerns within the cybersecurity community. The incident, which led to significant operational disruptions and data breaches, underscores the persistent and evolving challenges faced by the healthcare sector. Ascension disclosed the breach on May 10, 2023, revealing that both personally identifiable information (PII) and protected health information
FlowBank’s recent bankruptcy proceedings have sent shockwaves through the financial community, casting a glaring spotlight on the importance of stringent regulatory compliance. The Swiss Financial Market Supervisory Authority (Finma) has initiated bankruptcy proceedings against FlowBank due to severe and repeated breaches of capital requirements and other regulatory standards. FlowBank, an investment banking challenger headquartered in Geneva with subsidiaries in London
Ramify, a French WealthTech company, has recently announced an impressive financial milestone, having completed an €11 million Series A funding round. The round was initiated by 13books Capital and saw participation from Fidelity International Strategic Ventures alongside existing investors like Newfund, AG2R, Crédit Agricole, and several prominent business angels. This fresh infusion of capital is set to propel Ramify toward
Bitcoin, historically viewed as a speculative asset meant only for risk-tolerant investors, is increasingly being recognized as a viable addition to traditional investment portfolios. This shift in perspective comes in the wake of the Securities and Exchange Commission (SEC) approving spot Bitcoin Exchange-Traded Funds (ETFs) earlier this year. The move has led to greater adoption by registered investment advisors (RIAs)
The wealth management industry in the Asia Pacific region is undergoing a seismic shift, driven by the rapid adoption of artificial intelligence (AI) and digital innovation. As technology advances and the number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) continues to surge, particularly among a burgeoning class of self-made entrepreneurs, wealth management firms are evolving to meet their clients’
The recent announcement of a strategic partnership between Mastercard and Thought Machine has sparked significant interest in the financial community. This collaboration is poised to revolutionize core banking systems by merging Mastercard’s extensive network and digital solutions with Thought Machine’s cutting-edge core banking and payments platform. As the banking sector grapples with the imperative to modernize and innovate, this alliance
Increasingly sophisticated impersonation scams are triggering alarm bells within the cryptocurrency community, as highlighted by a recent alert issued by the Cybersecurity and Infrastructure Security Agency (CISA) on June 12. The alert stressed the growing trend of fraudsters exploiting the identities and titles of government employees to deceive unsuspecting crypto investors. Notably, CISA emphasized that its employees never request money
WealthForce.ai, a trailblazer in the WealthTech landscape, has achieved a remarkable milestone by forging a strategic partnership with a premier wealth management entity in India. This synergy has birthed the innovative eMACH framework, encapsulated by Events, Microservices, API, Cloud, and Headless—a multidimensional technology platform poised to transform the fabric of financial services. eMACH’s mission is straightforward yet ambitious: deliver bespoke
In the rapidly advancing realm of financial technology, a new challenger emerges, casting a long shadow over traditional wealth management paradigms. Prosper, a WealthTech startup, is not just entering the financial arena, it’s redefining it with a potent mix of innovation and user accessibility. Backed by financiers who hail from some of the most disruptive entities within FinTech, Prosper has
In the endlessly evolving world of cryptocurrencies, an audacious Solana-based bot known as “arsc” has swiftly advanced to notoriety. This ingenious program has leveraged a technique called “sandwich attack” to pilfer approximately $30 million from Solana users within just two months. The operation centers on a cunning exploitation of maximal extractable value (MEV), a concept referring to the profit a
In the constantly evolving world of technology, innovations often arrive with names that ring a familiar tone. However, TikTok AI is no mere echo of a social media sensation, but rather a transformative tool poised to reshape the blockchain landscape. Recently, this new blockchain technology has earned an endorsement from Ethereum co-founder Vitalik Buterin, signifying a noteworthy advance in the
As artificial intelligence technology continues its rapid advancement, society faces unprecedented challenges, one of which is deepfake videos. These digital forgeries utilize sophisticated AI algorithms to superimpose photos and videos onto existing footage, posing a significant danger in today’s information landscape. With potential implications such as spreading false information, manipulating public opinion, and perpetrating fraud, the need for reliable verification
