FinServ Tech Oracles

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

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.

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.

ChatGPT is a double-edged sword for FinServ professionals. Find out what to embrace…and what to eschew.

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? 

The SEC’s cyber-reporting rules will take effect in 2 months (December 15). Is your organization ready?

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?

Conducting frequent cybersecurity tabletop exercises is a must for FinServ companies. But how should they structure them and what should be included? 

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?

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?

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!