Cloud 9

  What Open Banking actually means? The Open Banking is an environment created to empower consumers to access, use, and benefit from their financial data. Therefore, it reveals the potential of financial data for the benefit of all. There are numerous ways to interpret the concept of open banking depending on markets and regions. Companies have experienced the power of using big data for business intelligence. Critical business decisions are made based on the data. Therefore, it is time for individuals like us and small scale firms to unlock the potential and empower us to get the most out of our own financial data. Open banking platforms empowers us through third-party platforms and apps to utilize the data for our benefit. However, the consumer has a full control of their financial data and hence they have to provide explicit consent to authorize the data access between third-party platform and financial institution. This step is usually referred to as “Consent” or “Permi...

  CYBER SECURITY RISK South Africa has recently witnessed the dread of cyber attacks hence cyber security has become imperative for big corporates and startups alike. Today, the stakes are higher than ever. The increasing instances of hacking, mobile usage, internet of things as well as the growing ecosystem of cybercriminals is affecting South Africa. The country has a situation that need to be tackled comprehensively and consistently. Cyber security is evolving on both the sides, attackers and defenders.  The challenges for cyber security teams within the organizations large and small, results  from    the following mega trends. (1) O ver the years,  massive growth of data in b usiness systems, (2) Security sensors that are meant to protect the businesses, (3) Immense shortage of skilled cyber security teams to analyze and respond to security incidents affecting the data and infrastructure. THE IMPACT There are various kind of malware used by cyber crimin...