Digital Resilience Archives - AiThority

Software Code Clean Up Slowed by Pending Regulations; Many Turning To Gen AI and Unit Tests

GlobeNewswire — Tue, 09 Jan 2024 08:31:16 +0000

New compliance requirements called DORA pushing banks to generative AI solutions to meet 2025 deadlines, according to Diffblue

Diffblue, creators of the world’s first fully autonomous generative AI-for-code software announced dramatically increasing demand for AI-powered software unit testing solutions, especially among banks, as firms rush to meet new, stringent software code quality regulations.

A year ago, the European Parliament approved the Digital Operational Resilience Act (DORA), which will enter into force in 2025. It includes six key components for financial services to address to bolster their digital resilience. ESAs will increase their supervision on financial institutions and will implement stronger controls.

“AI automation is changing the banking industry in many ways but it is also helping firms automate and improve compliance initiatives to meet the requirements of stricter software code quality standards,” said Mathew Lodge, CEO of Diffblue, developers of Diffblue Cover, an automated Java software unit testing solution.

The financial stakes are high.

Last December UK regulators fined bank TSB more than $60 million for failures in risk management and governance after an IT outage locked two million customers out of their accounts. The fine stemmed from a botched migration of TSB customers to Spanish bank Banco Sabadell which had acquired TSB in 2015.

The mistakes cost CEO Paul Pester his job and TSB had to spend nearly half a billion dollars to resolve the problems and compensate customers. Regulators accused TSB of failure to organize and control the IT migration program adequately and manage the operational risks.

DORA will require companies to focus on a Digital Resilience Strategy accompanied by a Digital Resilience Framework. It requires an end-to-end view of the entire ICT landscape that supports critical business functions. Proper unit testing of software can mitigate these risks tremendously, documenting in advance that the code will perform as intended.

Diffblue Cover is helping scores of banks adopt DORA and keep regulators at bay when modernizing legacy mission-critical Java applications. Unit tests written by Diffblue Cover enable rapid understanding of complex applications allowing customers to innovate with confidence. It’s also the only fully-automated generative AI solution that can autonomously write new code, improve existing code, accelerate CI pipelines and provide deep insight into risks associated with change without requiring manual review.

To see a demo of Diffblue Cover, please visit here. Experts at Diffblue will schedule a convenient time to show you how AI for Code and Diffblue Cover can:

Speed up modernization of your Java applications;
Protect your code from regressions;
Ship code with fewer customer-found defects
Make life easier for your development teams;
Reduce the risk of code breakages in fragile applications;
Maximize unit test coverage;
Get new insights into your code’s testability and health

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[To share your insights with us, please write to sghosh@martechseries.com]

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Cathay Financial Announces Its Digital Users Surpass 8.6 Million, Making Customers the Biggest Winners of Digital Transformation

PR Newswire — Thu, 05 Oct 2023 13:26:02 +0000

Group announced several key milestones, including its inaugural AI guidelines, at its recent Annual Conference on Technology, which saw over 2,000 people participate in inclusive innovation

As technology reshapes financial institutions worldwide, companies with strong technological capabilities are positioned to take the lead. Underscoring this important role technology is playing, Cathay Financial Holdings (Cathay FHC) recently centering on the theme of “Integrating Technology for an Inclusive New Intelligence.” Attracting over 2,000 participants both online and offline, this year’s Conference focused on the “ABCDEs” of major technologies and trends — AI, Blockchain, Cloud, Data, and Ecosystems.

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Senior Vice President of Cathay FHC, Marcus Yao, said during the opening, “With the financial environment constantly changing and posing new challenges, Cathay FHC has shored up robust digital resilience by embracing various emerging technologies and enterprises from early on.” He also mentioned that digital transformation is an “endurance race with constantly changing goals and no finish line.” Having begun its major push for digital transformation eight years ago with the Digital Data and Technology Development Center (DDT), Cathay FHC has been empowering the digital, data, and technology sectors for some time. As a result of these efforts, the total digital users across all businesses under the Cathay Group now exceed 8.6 million. “The customer is the biggest winner of our transformative achievements. As we move forward, Cathay FHC will continue to embrace a consumer-centric strategy, an international perspective, and an open-minded attitude. By favoring collaboration over competition, we will continue to drive value for consumers with new and innovative approaches far into the future.”

In addition to core financial technologies, this year’s Conference explored novel innovations in service experiences and financial oversight, while also serving as a forum for advancing industry dialogue on technological integration and cultural inclusivity. While AI tools such as ChatGPT have emerged recently, Cathay FHC has invested in AI and digital technologies for several years, and the Group unveiled its first AI governance principles during the Conference. The Group also took the opportunity to announce strategic projects leveraging Federated Learning and Synthetic Data, which not only enhance the depth and breadth of data but also ensure data security and customer privacy. Lastly, Cathay FHC unveiled its new large language model with RAG (Retrieval Augmented Generation) that drives its cloud knowledge consultant platform, offering automated real-time Q&A services, such as design and evaluation topics for the three major public clouds.

In the blockchain realm, Cathay FHC has forged alliances across banking, property insurance, electric vehicles, and other industries to create synergies by leveraging the technology. Using cross-chain technology and integrating Oracle to connect real-world data outside of the blockchain, these partnerships have enabled data exchanges between different alliance chains, thereby developing more financial products and creating industry value. As the Group charges ahead, it is continuing to foster blockchain partnerships, including around digital assets and decentralized identity applications, and is embracing international alliances across domains to advance the industry and accelerate adoption of web3 technologies.

In the cloud space, Cathay FHC has developed a new generation of insurance cloud platform — Product Factory — that creates new insurance products and supports the speed of online digital channels. The technology uses microservice architecture and low-code, which provides high performance, high availability, and scalability to cater to the diverse needs of the digital age and provide policyholders with a more comprehensive, personalized insurance service. Additionally, Cathay FHC has ventured from finance to the medical field, creating the next-generation cloud-based electronic medical record platform iFHIR Center, which converts commonly used unstructured electronic medical records in hospitals to the international standard FHIR (Fast Healthcare Interoperability Resources) format to facilitate medical information exchange. The iFHIR Center integrates cloud architecture, a microservice design, a case format conversion engine, an electronic medical record exchange, and top-notch data security. The Group’s future direction will be to continue expanding cross-industry and cross-scenario applications, as a means of developing the financial-medical ecosystem and accelerating the transformation of the medical industry.

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Red Sift Launches Relevance Detection as the First GPT-4-Powered Asset Discovery and Classification Solution

Business Wire — Tue, 06 Jun 2023 10:47:34 +0000

New AI Feature Enhances OnDOMAIN’s Capabilities To Secure Unknown Vulnerabilities And Strengthen Network Security Posture

Red Sift, the leading Digital Resilience Platform enabling organizations to see, solve, and secure vulnerabilities in their attack surface, launched Relevance Detection, a new, first-of-its-kind feature in OnDOMAIN powered by OpenAI’s GPT-4 technology. With Relevance Detection, Red Sift empowers organizations to quickly and efficiently gain more visibility into their domain estate, giving them the tools they need to secure existing vulnerabilities and strengthen their network security posture.

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“[Red Sift’s] Relevance Detection. . .removes the traditional barriers to network monitoring, and even translates identities that have been picked up in foreign languages, enabling the average non-multilingual human to understand and review them.”

According to a survey conducted by MIT Technology Review Insights of 700+ global leaders, over 50% said they have experienced a cybersecurity attack originating from an unknown, unmanaged, or poorly managed digital asset. For large organizations that struggle with the volume and complexity of network monitoring, Relevance Detection’s artificial intelligence (AI) eliminates those challenges by automatically discovering and classifying the significance of identities found across sources such as DNS, WHOIS info, SSL certificates and many others, to provide custom recommendations for full identity enablement. Through Red Sift’s proprietary methods of real-time monitoring of publicly-issued certificates and discovery of hostnames, the company ingests 10 million new certificates per month and checks more than 1.9 billion hostnames in its own database.

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“Building a comprehensive list of domain names has long plagued organizations, especially those that have undergone mergers and acquisitions. Even for organizations that successfully generate and maintain comprehensive asset inventory lists, evaluating them requires significant manual effort at a time when talent is scarce,” said Rahul Powar, CEO, Red Sift. “Relevance Detection will be an invaluable feature to organizations across the globe, as it removes the traditional barriers to network monitoring, and even translates identities that have been picked up in foreign languages, enabling the average non-multilingual human to understand and review them.”

Historically, OnDOMAIN and Red Sift’s External Attack Surface Management solution Hardenize, surfaced all discovered identities to its users. With today’s new integration with GPT-4 and the launch of Relevance Detection, Red Sift can now automatically scan each identity and generate a custom recommendation that tells customers whether an identity should be monitored and why.

Once identities that appear relevant have been reviewed and enabled, OnDOMAIN continuously surfaces any undiscovered domain assets owned by an organization, as well as uncovers any potential lookalikes that exist in the wild. This enhanced discovery allows organizations to discover assets that may have been parked or forgotten, which if left vulnerable, could be an exploitable attack surface. Relevance Detection puts the power back into organizations’ hands and enables security teams to decide which identities should be included in the domain asset discovery process.

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Red Sift and Vircom Team Up to Strengthen Email Security and Increase Digital Resiliency for MSPs and End Users

Business Wire — Fri, 03 Mar 2023 09:55:31 +0000

New strategic partnership enhances Vircom’s email security portfolio with Red Sift’s market-leading DMARC solution to meet high demand from MSPs and their clients looking to stop domain impersonation attacks and improve email delivery

Red Sift, the leading Digital Resilience Platform enabling organizations to see, solve, and secure vulnerabilities in their attack surface, announced a new strategic partnership with Vircom, the global email security leader focused on ensuring peace of mind for organizations of all sizes and the protection of their people, systems, and data. Through this partnership, Vircom customers and partners now have access to Red Sift’s all-in-one OnDMARC solution to accelerate Domain-based Message Authentication, Reporting & Conformance (DMARC) and BIMI adoption. Vircom is now distributing OnDMARC to its customers and through its channel partners (MSPs and VARs). Vircom has created unique added-value tools to make implementing and managing DMARC easier for customers and partners.

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Vircom’s extensive network of partners and customers will be key to helping scale OnDMARC to meet high demand from MSPs and end users looking to increase email security and strengthen their brand protection.

Email-based attacks are rising in scale and severity amidst an ever-expanding digital attack surface and increasingly sophisticated threat landscape. Research shows that companies expect business email compromise attacks to increase by 33% in 2023. The types of email attacks are also growing as threat actors find increasingly savvy attack tactics and techniques. An email gateway is necessary to stop phishing and spoofing, but more is required. Companies also need DMARC to stop domain impersonation attacks and improve email delivery. Red Sift’s award-winning OnDMARC platform simplifies the complexities of email security protocol DMARC by automating processes and providing clear instructions on how to block unauthorized use of your domain.

“Email security is a vulnerability gap for companies of all sizes and a mounting concern for the MSP community as attacks escalate,” said Nadav Shenker, GM at Vircom. “DMARC is a critical component of effective email security, and Red Sift provides the most automated and effective solution to get customers’ domains to DMARC enforcement. OnDMARC from Red Sift perfectly complements our existing suite of email security technology and shows our continued commitment to providing our end users and partners with best-of-breed email security solutions. By leveraging OnDMARC’s robust APIs, Vircom was able to create unique added-value tools for customers and partners directly in the Vircom Portal. The ability to easily implement and manage DMARC for many different customers will reduce the management overhead for Managed Services Partners, allowing them to stop impersonation of their customers’ domains.”

The powerful Red Sift and Vircom partnership is designed to enable MSPs to provide more value to their clients through enhanced email security services, including an easy-to-use solution that empowers companies to quickly implement a DMARC policy and improve authorized email delivery. In addition, joint customers and partners can leverage Vircom’s premium sales and support services to minimize operational issues and accelerate the deployment of OnDMARC while ensuring a seamless user experience. Deploying SPF, DKIM, and DMARC can be challenging, and Vircom’s support team sees many organizations struggle to implement them successfully. OnDMARC streamlines the configuration of these authentication protocols to effectively prevent spoofing.

“Email security is tremendously important for MSPs, yet many lack proper email security controls,” said Chuck Swenberg, SVP Strategy at Red Sift. “OnDMARC is a zero trust solution that supports Vircom’s focus on email security and provides companies with an all-in-one solution to quickly implement and manage DMARC and BIMI across their email domains. Vircom’s extensive network of partners and customers will be key to helping scale OnDMARC to meet high demand from MSPs and end users looking to increase email security and strengthen their brand protection.”

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BT Launches Cisco ThousandEyes Managed Service To Help Customers Boost Digital Resilience

AIT News Desk — Mon, 27 Sep 2021 17:32:59 +0000

Service Offers Experience Monitoring across Customers’ End-to-End Networks with a Choice of Management Levels.

BT announced a new capability to help multinational customers deliver improved experiences for users of their corporate applications and digital services. Cisco ThousandEyes Cloud and Internet Intelligence platform helps customers’ IT teams monitor end-to-end application performance across the entire digital delivery ecosystem, from users all the way to the cloud. It rapidly identifies faults and performance issues, wherever they are, so they can be fixed before they disrupt services and user experience.

The solution is powered by ThousandEyes globally distributed and local vantage points. These are natively embedded on customers’ Cisco network equipment* and can also run on virtual machines and other types of equipment. BT monitors and controls the solution using Cisco technology integrated into its own leading-edge service management platform to deliver always-on proactive monitoring and service assurance of digital experience.

Customers benefit from BT’s deep Cisco expertise and global availability of service teams offering around-the-clock, 365 days-a-year monitoring support across the network underlay, overlay and application layers as well as customer-dedicated technical consultants. Customers can choose from three services levels, from fully BT-managed and controlled to in-house operation by their own IT team.

Modern applications are more distributed and modular than ever before, powered by a hybrid underlying infrastructure combining public cloud, Internet and private networks. This hybrid approach helps organisations boost agility and reduce costs but introduces complexity and third-party dependencies. When something goes wrong, faults are difficult to find and can result in costly outages, sometimes with regulatory implications.

“Troubleshooting poor user experience is a huge pain for customers. The longer the outage, the bigger the consequences for the business,” said Scott Cowling, network solutions director, BT. “Working with our partner Cisco, we’ve launched a managed service based on ThousandEyes to cut through the complexity of modern connectivity, deliver digital resilience and enable customer success.”

“Major outages create headlines but routine technical outages and thousands upon thousands of other micro-outages happen on a daily basis and can present enterprises with significant brand and operational risks too,” said Craig Vario, global head of channels, Cisco ThousandEyes. “Now more than ever, the Internet dictates the experience of customers and employees alike. That’s why we’re building on our deep partnership with BT. Its ThousandEyes managed service will help enterprises enjoy the benefits of hybrid cloud networking while providing users with excellent and resilient digital experiences.”

*Cisco network equipment with ThousandEyes vantage points natively embedded include the Catalyst 9300 and 9400 series Switches, Catalyst 8300 and 8200 series Edge Platforms, and Cisco 4000 series Integrated Service Routers

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