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Akamai and Quantum Dawn 3 - That's a Wrap!

On September 16, 2015 the Securities Industry and Financial Markets Association (SIFMAconducted Quantum Dawn 3, the third in a series of cyber attack exercises against the capital markets industry.  Over 650 people from more than 80 firms and government agencies participated in the exercise.  And this year, for the first time, Akamai was invited to take part.

Recap of "The Banker: Top 1000 World Banks 2015"

Each year since 1970, The Banker has published a list of the world's 1000 largest banks, providing a key source of data and analysis for the industry.  As the strategist for financial services for Akamai, I look forward to seeing this new list each summer, watching how Akamai's banking customers move up or down, and tracking our market penetration.  But beyond that, The Banker provides excellent commentary on the shifts in global banking, the forces behind those movements, and the overall health of the sector.

Below is a summary of major points made in The Banker's most recent publication, along with my own thoughts on China.

Last night I watched an On Demand episode of The American Experience titled Blackout, which recounted the 1977 power failure in New York City and its lasting impact on city due to widespread looting and destruction. With the power completely out, the operators at Con Ed got to work restoring power using a manual that was last updated after another massive blackout - in 1965.

Innovation vs. Risk & Compliance in Financial Services

Innovation and investment in FinTech is seemingly all around us in financial services. Hundreds of articles in the press, and dozens of financial services conferences on digital currencies, automated investment advice, investment in innovation labs by banks, the future Internet of Things and more, lead us to believe that innovation is thriving in banking and financial services. But is it really?

Akamai Showcases Client Reputation at Finovate

Last month Akamai returned to the Finovate stage in London, presenting our Client Reputation security product to a record-setting crowd of 1,250 attendees from leading financial services firms from across Europe and around the world. This marked our third time on stage at Finovate, since our first demo of Kona Site Defender at Finovate New York back in 2012.

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Can the Bitcoin World Adapt to the Regulatory World?

In July the New York Department of Financial Services (DFS) proposed comprehensive regulations for virtual currencies including Bitcoin.  Under this 40 page proposal, DFS would issue BitLicenses to companies that meet certain criteria.   Although BitLicenses would not be required for most merchants or consumers, for most others, a BitLicense will be required for any virtual currency business activity. 

How will these regulations impact the Bitcoin industry, and can the industry adapt to these new requirements?

Let's take a look at the major elements of the regulation.

How would you rate your last "Mobile Moment"?

One of the best parts of my job is speaking with our customers about their business challenges, and my favorite topic is the mobile user experience. Recently I spoke with the CEO of one of our financial services customers about their challenge to understand and deliver the right mobile experience to both the phone and the tablet.

Like many discussion around mobile experience, your top-of-mind thoughts and ideas come not from scientific market research or customer polls, but directly from your own personal experience - in this case, the CEO's most recent "mobile moment".

The Flash Crash 4 Years Later: Ready for the Next One?

May 6, 2010 started like most days in the stock market. A few minutes before the U.S. equities markets opened at 9:30 AM, leading brokerage firms opened their internal "market open" conference calls. This is a common practice in the industry: get internal representatives from IT operations, networking, market data systems, software development, etc. on the phone together. Run through checklists making sure all systems are ready for the opening bell at 9:30 AM. Discuss the expected opening rush. What happened in the Asia and European markets overnight? How are the S&P futures looking? Do we have all our web servers up? Are we green? Anyone reporting yellow? OK everyone, continue monitoring your systems as the market opens at 9:30.

FFIEC DDoS Notice: The next step in the evolution of DDoS

The joint statement issued in early April by the FFIEC should come as no surprise to the banking and finance community in the U.S. Beginning in 2012 and continuing throughout most of 2013, banks suffered massive DDoS attacks, with dozens of banks attacked during 2013, and up to 50 banks attacked in a single week. A response from regulators such as this is part of the ongoing evolution of DDoS and information security for the financial sector, and is a positive step forward for the industry.

Brobot: Alive and Well in 2014

2013 was an absolute nightmare for many US banks, as they were targeted with massive DDoS attacks by the QCF as part of their Operation Ababil attacks. At Akamai we observed up to 20 banks being attacked in some weeks in 2013, and Akamai successfully protected our banking customers from these large attacks.
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