Cyber security
Fintech & IT Benchmarks 2021 report – executive summary
Shedding light on fintech initiatives, staffing, salaries, cyber security and more
Fintech & IT Benchmarks 2021 report – detailing the evolution of technology
Benchmarking data sheds light on staffing trends, priority areas of research and more
Most central banks spend less than 20% of their IT budget on security
Average spend was 16% of IT budget
Regulating big tech and non-bank financial services in the digital era
Experiences from China highlight potential benefits of digital-bank and holding-company approaches
Payment innovation is top fintech research priority for central banks
CBDC ranked second as central banks explore wider implications of fintech for payments
High income economy central banks’ technology costs vary widely
Some central banks in advanced economies have kept costs as low as those in poorer nations
Large economy central banks more likely to employ CTO
Slight majority of central banks employ CTO, but differences are clearer when sorted by GDP
Most central banks hold annual cyber security training sessions
One-third of central banks hold training every 0–6 months
Cyber security and retaining top talent are biggest tech challenges
Keeping abreast of fintech developments also tests institutions
Central banks use varied cyber defence playbook
Cyber security training for central bank staff occurs at least once a year
Initiative of the year: Saudi Central Bank’s business continuity programme
Advanced planning allowed Sama employees and systems to continue operating critical functions despite Covid-19 lockdowns
Big data in central banks 2020–21 report: shifting to centre stage
Data governance appears to be improving and central banks are embracing cloud technology
Cyber attacks on finance increased sharply during pandemic – BIS
Increased use of cloud could increase firms’ vulnerability, researchers warn
Earlier disclosure by third party could have prevented data breach – Orr
RBNZ could have avoided breach if patch had been deployed sooner, governor says
Ulrich Bindseil on the launch of the digital euro
ECB’s payments head speaks about the functionality, tiering and technology of the eurozone’s planned CBDC
RBNZ appoints KPMG to report on data breach
Report due by end of March and will be considered with Deloitte review of accidental leak
BIS to research prototype DLT green bond platform
Innovation hub sets up international network to share knowledge and address problems
MAS enhances cyber risk guidelines as risks grow
Authority warns “spate” of cyber attacks have targeted suppliers of IT services
RBNZ announces independent inquiry into data breach
Governor takes personal responsibility and says NZ financial system remains sound
RBNZ suffers data breach in third-party system
Governor says breach is “contained” and investigations are ongoing
Bailey urges co-operation on cyber risk
BoE governor says cyber risks can “go the distance”
ECB announces independent inquiry into Target2 outage
Main findings on RTGS failure will be published by second quarter of next year, ECB says
MAS warns firms over third-party cyber risks
Ravi Menon warns of risks from open source software and third-party service providers
The winners of the 2020 FinTech and RegTech Global Awards
Central banks and their partners have innovated across machine learning, cloud services, payments and more