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Recently by Rich Bolstridge

In the first of this two-part blog, I reported the impact that the Dyn DDoS attack had on the financial services industry.  Banks, insurers, credit cards, and others had two waves of impacts on Oct. 21, with many websites clocking in with 60 second page response times, and others with outright failures, not able to service their customers.

In Part 2, we'll dig into some details to better understand the technology risks of financial services websites, and extract some lessons learned for the industry.

The recent DDoS attack against the Dyn DNS service resulted in major impact across the financial services industry, and provides us an example to better understand the technology risks and the lessons learned from this attack.

In the first of this two part blog, we will examine the impact that the attack had on banks, insurance companies, and other firms in the industry.  In Part 2, we'll dig into some details to better understand the technology risks of financial services websites, and extract some lessons learned for the industry.

The Easiest way to Improve the User Experience

I had an interesting conversation with a former Akamai banking customer this week about his past experience with Akamai. He is now an independent consultant, working with banks on digital transformation and other projects.

The financial services sector is arguably the most advanced private sector for intelligence gathering, security information sharing, and investment in cyber security controls.  For those of us who have been involved in cyber security for the last few years, we have the experienced periods of high threat activity, such as the al-Qassam Cyber Fighters and Operation Ababil, as well as periods of relative calm.

Each year since 2011 the Federal Reserve has conducted a "Consumers and Mobile Financial Services" survey of over 2,000 US adults on their use of mobile banking.  The study focuses on the consumer trends and the use of mobile devices to access financial and banking services, and to help make financial decisions.

I recently spoke at the 7th annual BankTech Summit in Hong Kong, and had a chance to meet with many of our customers who attended.  Meeting with customers has always been the best part of my job, and in particular, hearing first hand war stories about their challenges.  The stories that I've recently heard involve a common problem: mainframe and back end systems becoming overloaded due to the success of digital transformation.

I recently spoke with Insurance CIO Outlook Magazine in response to an award Akamai received as a top 10 security provider for insurers. As part of the discussion, I shared the importance of security for insurance digital transformation.

What's Your Headroom?

The recent volatility in the stock market serves as a reminder to those in the brokerage world about the challenges of capacity planning during unstable equity markets.  We are only 10 trading days into 2016, and the the S&P 500 index is down 8.0%.  As shown in the table below, we've now had 4 days of 400+ point swings in the market.

"Fingerprint banking", or the ability to conduct financial transactions from your phone with your fingerprint, without the need for a username and password, has quickly become a mainstream feature in banking apps around the globe.  But will this new feature convince mobile holdouts - those customers that don't trust mobile banking - to cross over?  Or will it further scare them away?

FinTech Landscape Comparison: U.K. vs. the U.S.

If you are a FinTech junkie like myself, you review dozens or articles each week from around the world to try to keep up with the latest hot news and hot companies in this space.  Many of the articles highlight recent startups, or report on the investments banks are making in specific companies or their own innovation centers to keep pace with this hot sector.  It's all very exciting, but it's hard to formulate a deeper understanding of the industry as a whole.
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