The efficacy of customer identity verification has increased thanks to digital technology. Validating a bank account is an essential stage in the identity verification process since it verifies the client who is tied to that account. The traditional procedures for validating a bank account involved a lot of paperwork and several bank visits, and they were time-consuming. Financial institutions may now enrol consumers in only a few minutes thanks to the introduction of penny drop verification.

Today, CyberArk announced that our founder and CEO Udi Mokady will step into the role of Executive Chairman and our Chief Operating Officer, Matt Cohen, will become CyberArk’s CEO, effective April 3, 2023. Together, Udi and Matt make a great team and we’re excited for this next chapter in CyberArk’s journey.

EDD is a vital component of the KYC compliance procedure in banking. It comprises gathering information to verify clients’ identities and assess the degree of money laundering risk that each customer poses. As a result, the client requested substantially more details during the EDD process than during the CDD process, because this information might be used to reduce the related risks.

The masked Aadhaar is a variant form of Aadhaar that the Unique Identification Authority of India (UIDAI) developed after taking into account the issue of data privacy for individuals. Read through to know more about what it is.

NTFS is a filesystem developed by Microsoft that was introduced in 1993. Since then, it has become the primary filesystem for Windows. In recent years, the need for an NTFS implementation for macOS and Linux has risen, and as a result, new NTFS drivers for those operating systems have been developed. This blog post presents some information about the NTFS driver for Linux and shows a bug we found in one of the filesystem’s features.

When news of the recent CircleCI breach broke, developers everywhere scrambled to rotate tokens and remove hardcoded secrets stored in the popular CI/CD platform to minimize their exposure. Now that the dust has settled and more details are available, we’re reexamining the CircleCI attack chain to highlight the importance of a holistic Identity Security strategy in thwarting future damaging attacks.

Finance Minister Nirmala Sitharaman advocated for the simplification of Know Your Customer (KYC) processes for financial services in a Budget speech that placed a broad emphasis on technology and tech-driven solutions. She also argued for increasing the utility of the DigiLocker platform for both individuals and businesses and giving Fintech Platforms more flexibility to access India’s digital infrastructure.

Everything started when I was researching Windows containers. It required installing Docker Desktop for Windows, and I couldn’t help but notice that there were many Docker processes. Since some of the processes were privileged, the communication between them is of particular interest, which led me to explore further. I found the processes were using named pipes for communication, and one of them was a way to forward API calls from a low-privileged user to a privileged service.

It wasn’t too long ago that using a single cloud for some business operations was cutting-edge technology. Now the cloud is essential for accelerating growth, improving efficiency and remaining competitive. Most organizations have multiple cloud environments deployed, in addition to private cloud and on-premises environments. In fact, in a soon-to-release CyberArk survey, 85% of respondents said they would be using three or more cloud service providers by 2023.

Artificial Intelligence (AI) is revolutionizing the financial services industry, known as fintech. From improving customer experience to reducing operational costs and mitigating risks, AI is having a significant impact on fintech. In this blog, we will explore the top 10 ways AI is being used in fintech.