FinServ Tech Oracles

FinServ Tech Oracles is a weekly video series focused on technology issues pertinent to financial firms. Brought to you by Nemertes.

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AI Episodes

Episode 1
Technologies for Financial Services Firms
In the inaugural episode, we talk about the key findings of Nemertes’ recent Enterprise AI Research Study which included a special focus on financial firms. Whether or not AI will actually reduce your head count is discussed, as well as the huge opportunity that AI presents to get you into new markets to provide new and different kinds of financial services.
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Episode 3
The Secret Ingredient in ChatGPT
ChatGPT is a double-edged sword for FinServ professionals. Find out what to embrace…and what to eschew.
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Episode 4
The Ethical Considerations of AI
CEOs are driving CIOs to adopt generative AI, ready or not. Yet more than half of all FinServ companies lack a formal digital ethics policy. What is one and why do you need it?
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Episode 8
The Executive Order to Regulate AI
On October 30th, President Biden signed an executive order mandating testing and regulation for AI. What does this mean for financial firms? And will it stifle innovation?
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Episode 9
What to Talk to the Board About When We Talk About AI
Combining two themes from the last few weeks: Boards need to be up to speed on AI + cybersecurity and other highly technical subjects. How should FinServ technology execs structure the board conversation, and what should they say?
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Episode 10
What the Sam Altman Fiasco Means For FinServ Firms
What does Sam Altman’s firing as OpenAI CEO and reconstitution as Microsoft employee portend for financial services firms? Will the Microsoft/OpenAI reconfiguration also reconfigure the AI industry overall? And what concrete steps should financial services firms take to mitigate risk and maintain stability in their AI strategies? Find out in this topical episode of FinServ Tech Oracles!
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Episode 25
Should Banks and FinServ Firms Invest in Bitcoin?
Bitcoin is regaining traction recently so it’s time to ask whether it is really here to stay. How seriously should financial services companies consider this technology? Is it truly game-changing, or just a hyper-distraction along the road of fin tech progress?

Episode 26
AI with FinTech?
While AI is incredibly hot right now, it’s natural to wonder how AI could help financial service companies. There are both opportunities and risks. Tune in for a concise discussion about both sides of this very hot coin!


Cybersecurity Episodes

Episode 2
Woeful Lack of Cybersecurity Expertise on Boards
A recent Wall Street Journal article cited that ONLY 30% of FinServ firms had board members with cybersecurity expertise. What happens in the event of a security attack – are they prepared to make the necessary board-level decisions? Johna and Jerry offer recommendations for board members and IT departments that can be implemented immediately.
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Episode 5
SEC Cyber-Reporting Requirements
The SEC’s cyber-reporting rules will take effect in 2 months (December 15). Is your organization ready?
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Episode 6
A CEO’s Perspective on Effectively Communicating Cybersecurity Risks
This week, Nemertes’ Jerry Murphy is joined by special guest Dave Hanrahan, CEO of Century Savings Bank. We discuss cybersecurity from a community bank CEO’s perspective, touching upon:

  • What can I afford to do?
  • How do I balance security needs with fiscal responsibility?
  • How can I best incorporate IT strategy into institutional operations?

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Episode 7
Anatomy of a Wargame
Conducting frequent cybersecurity tabletop exercises is a must for FinServ companies. But how should they structure them and what should be included?
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Episode 12
How Personal Liability Changes CISOs’ Approach to Boards
CISOs now face both criminal and civil liability as a potential result of the actions they take as part of their professional roles. How should they approach the board—and modify their own contracts—given the increase in their personal risks?
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Episode 13
FinServ Firms Need a Chief Risk Mitigation Officer
The Chief Risk Officer’s job is to assess risk. But there’s typically no individual within the organization chartered with developing risk-mitigation strategies and enforcing them. In this episode, Nemertes suggests that companies create a Chief Risk MITIGATION Officer. The CISO should be reporting to the Chief Risk Mitigation Officer, whose job is to enforce appropriate risk-mitigation efforts across ALL areas, not just cybersecurity.
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Episode 15
New Year’s Resolutions
What are your New Year’s resolutions? One that should be at the very top is to re-envision how you think about cybersecurity training—as practice for operational excellence.
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Episode 16
Preparing For the Next Big Security Threat
The start of the year is a great time to make predictions for the future. Join the “Oracles” for key insights on the big security issues on the horizon in 2024.
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Episode 17
Will Regulations Crush Competition & Force Consolidation?
Increased SEC oversight will not only challenge FinServ companies, it will also lead to further industry consolidation. Jerry and Johna discuss which practical actions FinServ companies should take to prepare for this pressure.
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Episode 18
Non Disclosures Get Trickier Under SEC Scrutiny
Companies have long used employee nondisclosure agreements to protect proprietary information. Now, regulators are trying to ensure that clauses in those agreements don’t also serve to inhibit whistleblowers from reporting potential corporate wrongdoing. Johna and Jerry discuss how these NDA issues are likely to drive actions that FinServ companies will need to take to minimize their risks.
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Episode 19
What Are Companies Doing When It Comes to NetSecOps?
We’ve all heard about the convergence of network and cybersecurity operations (NetSecOps). But is it really happening? How are financial services firms ensuring the effectiveness of this convergence? Are there specific success practices to focus on?
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Episode 20
FinServ Tech Oracles 20 – Securing PII
Securing PII is front-and-center for many financial services firms. Join Nemertes’ Johna Till Johnson and guest Raja Chris from Annaly Capital as they discuss confidential computing and how to make it happen.

Episode 21
Zero Trust and Financial Services Firms
Zero Trust has been a key initiative in cybersecurity over the last decade. But today, it’s truly imperative for financial firms to begin implementing – if they haven’t already – or accelerating their Zero Trust initiatives. Find out why on this week’s episode…

Episode 23
Impediments to Zero Trust in FinServ
Zero Trust seems like it should be a natural fit for many financial services companies. However, not all are ready to make the jump. Tune in for a discussion about the issues standing in the way between you and a move to Zero Trust.

Episode 24
NetSecOps + External SOC
Should financial services institutions follow others with external SOC, or have their own dedicated operations? Join Jerry Murphy and guest Mark Imhoff from System Soft Technologies as they discuss the issues affecting this important security topic.
With Your FinServ Tech Oracles:
• Jerald Murphy, Senior VP of Research + Consulting, Nemertes
• Mark Imhoff, Head of Security Practice and Enterprise Architecture Team, System Soft Technologies

Episode 29
The SEC’s Unpinned Grenade: Risk and Materiality
When is a cybersecurity incident “material”? Nobody knows, but the SEC now requires public companies to report them—and to note any known risks that may be present in a company’s operating environment, specifically including third-party risk. For CISOs, this is akin to an unpinned grenade: If there’s a “material” cybersecurity incident, or an undisclosed risk, there are personal repercussions: lawsuits and potentially even jail time. What should CISOs be doing in light of this changed environment?



Technology Episodes

Episode 22
Improving the Digital Experience
Most financial service companies are fully committed to embracing new technology. However, many fin tech companies still struggle to optimize the use of these technologies to improve employee and client’s digital experience. Join us in welcoming Jeanne Andreana, a 20+ year veteran and advocate of improving digital experiences at companies such as UBS and E*Trade, to discuss.

Episode 27
The Art of the Networking Deal
As companies continue expanding cloud services and remote workforces, the very nature of networks used to support financial services companies is dramatically changing. Join Jerry Murphy and Dan Myers to discuss best practices on optimizing terms for your updated networking services.

Episode 28
Love To Hate You: Cloud Services and Financial Firms
Cloud is the answer! Now what was the question? Financial services firms, like other companies, have enthusiastically made the shift to cloud. Yet there’s an interesting operational gap: while nearly every organization is using cloud technology, 30% of those who are using cloud lack metrics and KPIs, defined procurement requirements, a budget, a strategy, or all of the above. In this episode, we discuss the most common mistakes FinServ companies make when adopting cloud.

Episode 30
Next-Gen Infrastructure and Financial Services Firms
With so much focus on things like AI and quantum, have we lost track of what infrastructure is needed TODAY for financial services firms? Nemertes’ Jerald Murphy and John Burke discuss what types of LANs, WANs, and data centers are best suited for the current FinTech needs.

Episode 31
Cloud Computing: Do Firms Really Need to Go There? 
Clearly, the world has been “high” on cloud computing for the last ten+ years. It’s surely here to stay, but is it the panacea that many people think, or are there really more hidden costs than it is worth?

Episode 32
Blockchain and Distributed Ledger Technology
Presidential candidate RFK Jr. says he wants to put “the entire Federal budget on blockchain”. Is he nuts? Does this idea have any merit whatsoever? Your FinsServ Tech Oracles Jerry and Johna discuss the potential blockchain and digital ledger technology (DLT) to revolutionize various financial processes, including cross-border payments, trade finance, and identity verification.