On October 21, financial technology experts gathered at the Nebraska Innovation Campus in Lincoln, Nebraska, for the second annual Flyover Fintech conference. Hosted by U.S. Representative Mike Flood, R-Neb., the event spotlighted cutting-edge trends in cybersecurity, AI, and digital assets, with panels exploring innovations in Nebraska’s economy and housing sectors. Here’s a look into the key takeaways from the cybersecurity discussions at the conference.
Addressing Cybersecurity Risks in a Rapidly Evolving Landscape
With the rise of digital threats such as deepfakes, ransomware, and sophisticated phishing schemes, cybersecurity is an ever-evolving field. During a panel moderated by Nebraska State Sen. Eliot Bostar, experts shared how businesses can protect themselves by adopting strong security measures, such as multi-factor authentication and API security, while also prioritizing consumer education.
One of the central themes was the role of artificial intelligence in both enhancing and combating cyber threats. Paul Leonhirth, global financial services industry lead at Palo Alto Networks, explained how AI has transformed phishing attacks, making scam emails appear more authentic and harder to detect. This shift highlights the need for thorough employee training on email security threats.
Yet AI is a double-edged sword—it is also used in defense strategies. Don Riddick, chief legal officer at fraud prevention firm Featurespace, illustrated how AI can monitor account behavior, detecting suspicious activity and alerting cybersecurity professionals before a breach occurs. “One of the ways AI helps is to identify good account behavior,” Riddick explained, emphasizing AI’s effectiveness in fraud prevention.
Proactive Measures in Cybersecurity: Education and Testing
Speakers emphasized the importance of proactive cybersecurity measures, especially as AI-powered cyberattacks become faster and more sophisticated. Regular security testing and comprehensive employee training can help organizations stay prepared. Rick Van Luvender, senior vice president at Fiserv, noted a growing demand for cybersecurity professionals, as educational institutions are ramping up programs to meet the industry’s needs.
Despite technological advancements, Riddick suggested that the uptick in online fraud might drive more people to conduct business in person. “The technology we have becomes a tool rather than a transformative way for our entire culture to interact,” he said, underscoring that human judgment is critical to data security.
A Look Ahead: AI in Financial Services
The Flyover Fintech conference highlighted the vital role of innovation in financial services, from cybersecurity to AI-driven fraud detection. The discussions underscored a central truth: while AI and technology are essential tools, human insight and judgment are irreplaceable in securing data and staying ahead of the latest threats. As the digital landscape continues to evolve, so too will the strategies that keep businesses and consumers protected.
Author: Jennifer Evancic
Jennifer.Evancic@ResourceManagement.com
Jennifer Evancic is a third-party auditor valued by creditors and large organizations for her knowledge in call monitoring within the collections industry. With meticulous attention to detail and a firm grasp of regulatory requirements, she ensures compliance with clients’ criteria and state and federal regulations.
Jennifer audits collections calls, ensuring they meet client-specific criteria and comply with regulations, providing valuable insights and maintaining industry standards.
Beyond her auditing responsibilities, Jennifer takes the lead in organizing and facilitating monthly call calibrations. These sessions serve as a collaborative forum where clients and their vendors come together to discuss call monitoring results and address any findings or areas for improvement. Jennifer’s guidance fosters open communication and ensures alignment between clients and vendors, driving continuous improvement in collections practices.
Jennifer stays up-to-date with compliance and industry best practices by participating regularly in peer meetings, regulatory updates and industry webinars. This keeps her informed about emerging issues and ensures she remains a knowledgeable leader in collections compliance.
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