Tag: banks

banking, Canada

Plumery expands digital banking experience platform into Canada

Colin Henderson

With the changes occurring for Canadian Credit Unions using Central1 here is a press release from a new to Canada player from Amsterdam in the core and digital banking space – Plumery. _________________________________________ Press Release: Plumery expands digital banking experience platform into CanadaPlumery’s expansion, collaborating with Vancouver-based Aequilibrium, brings specific Canadian market capabilities to support credit unions delivery of personalized, compliant, and elevated member experiences. October 2nd 2025, Amsterdam. Plumery, the digital banking experience platform, today unveiled Canada-specific features and integrations giving Canadian credit unions a clear path to deliver personalized, compliant, and modern digital banking experiences. Canadian financial institutions … Continue reading Plumery expands digital banking experience platform into Canada

Cybersecurity

Evolution and Nature of Cyber Attacks on Banks (1998–2025)

Colin Henderson

The financial sector has been a prime target for cybercriminals due to the high-value data and assets it manages. Over the past 27 years, cyberattacks on banks and their customers have evolved in sophistication, scale, and impact. Below is a detailed examination of this evolution, categorized by key time periods. The evolution highlights the characteristic that this report will focus on, and that is proactivity vs reactivity. Banks have become adept at reacting to new threats, usually following experience with an attack or intelligence from communal discussion groups between banks. This reflects in internal approaches, which is largely based on … Continue reading Evolution and Nature of Cyber Attacks on Banks (1998–2025)

Cybersecurity

BlackBasta ransomeware lo

Colin Henderson

BlackBasta ransomeware logs leaked # Insights into Black Basta’s Organizational Structure Revealed Through Leaked Chat Logs The unprecedented leak of over 200,000 internal chat logs from the Black Basta ransomware group has provided cybersecurity researchers and law enforcement agencies with critical insights into the organizational structure of one of the world’s most prolific cybercriminal enterprises. Spanning communications from September 2023 to September 2024, these logs reveal a sophisticated hierarchy, operational divisions, and internal dynamics that underscore the group’s adaptability and vulnerabilities[1][3][4]. — ## Hierarchical Leadership and Core Command Structure At the apex of Black Basta’s organizational structure sits **Oleg Nefedovaka**, … Continue reading BlackBasta ransomeware lo

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TD Bank created an environment that allowed financial crime to flourish

Colin Henderson

Senator Colin Deacon summarised the impact of the fine TD Bank was hit with after the US Innvestigation assessed they knowingly worked to avoid AML rules and thuse became criminals themselves. This United States Attorney General Merrick Garland humiliated this Canadian bank over something so fundamental. AML rules are intended to eliminate one aspect of the transfer of cash or funds from being criminal proceeds to legitimate business proceeds. Deacon is correct in thei being a humiliation for Canada, yet OSFI have been silent on this matter, something I find even worse. Here is a short piece on thereaction of … Continue reading TD Bank created an environment that allowed financial crime to flourish

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American rhetoric turns protectionist

Colin Henderson

President Obama is beginning to take on the mantle of an embattled and potentially protectionist leader with this comment in Yokohama today. My interest is less politics and more Banks. Such inward looking approaches will inevitably result in inward looking institutions within the US, especially those with government ownership, or essentially government protection. BBC http://www.bbc.co.uk/news/world-asia-pacific-11748433i Addressing business executives in Yokohama, President Obama said the economic crisis had shown the limits of depending on US consumers and Asian exporters to drive growth. Continue reading American rhetoric turns protectionist

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Global Governance – Canadian perspective – Paul Martin

Colin Henderson

I am live blogging from the Friedrich Ebert Stiftung/ Munk Centre/ University of Toronto conference on Global Economic Governance.  The keynote speaker is Paul Martin (PM) who is up next.  Introductions first from Werner Puschra, Director, Friedrich Ebert Foundation, New York Office and John Kirton, Professor, International Relations Programme, G20 Research Group, Munk School of Global Affairs, University of Toronto.  Basically Martin a former PM of Canada is being introduced as the ‘father’ of G20. Notes on Martin begin here: Global governance requires a global steering committee covering these issues. breadth of issues priority results ability to reach out to … Continue reading Global Governance – Canadian perspective – Paul Martin

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The true meaning of innovation in financial services lies in the plumbing, not UI

Colin Henderson

This piece on internet and evolution of financial services has the best quote I have seen for some time. “these companies have merely built nice UI’s to Wall Street” How To Disrupt Wall Street | The Business Insider As I see it, these companies have merely built nice UI’s to Wall Street: Mint connects to your banks and Square to Visa and Mastercard and the bank that issued the credit card. If people at farmers’ markets use credit cards instead of cash, that means more money for Wall Street, not less. Brilliant. I take no issue with the likes of … Continue reading The true meaning of innovation in financial services lies in the plumbing, not UI

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Bank tax, bonuses and unintended consequences

Colin Henderson

I was a little surprised to see the UK conservatives support a global bank tax. In any event the amount of the bonus at JP Morgan Chase caught my attention, so I took a look at their capital base. With tier 1 capital of $133 bn, the bonuses represent a significant 7% of capital. Ironically, the international tax will produce the unintended consequence of reducing capital even more., within the limitations of Basle. It is hard to see how a tax would improve governance and capital retention. Osborne to push for global bank levy George Osborne, shadow chancellor, said that … Continue reading Bank tax, bonuses and unintended consequences

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Big banks might move to Hong Kong | FT

Colin Henderson

I was listening to all the pundits making predictions for 2010 over the weekend and one struck me in particular. It was Chrystia Friedland US Managing Director of Financial Times on Fareed Zakaria GPS, and she predicted big banks moving their headquarters to Hong Kong, in response to regulation and taxes. It was a one liner comment, with no follow through, but there is no reason for an investment bank which can operate virtually not o optimise its HQ location. Interesting. One more point for the rise of emerging economies. Continue reading Big banks might move to Hong Kong | FT

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Mervyn King calls for banks’ break up per “The Great Unwinding” post in Feb

Colin Henderson

It is with some relish I see Mervyn King agreeing with me from last February. King calls for break-up of banks | FT – Oct 2009 Mervyn King, governor of the Bank of England, called on Tuesday night for banks to be split into separate utility companies and risky ventures, saying it was “a delusion” to think tougher regulation would prevent future financial crises. The Great Unwinding | part 1 of 3: 2009 – 2012 | The Bankwatch – Feb 2009 This will effectively split the financial community into two distinct sets: financial utilities – significant operating restrictions in light … Continue reading Mervyn King calls for banks’ break up per “The Great Unwinding” post in Feb