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The Walls Within: Why Organizations Cling to Data Silos in the Age of AI

Finextra

From predicting consumer behavior to automating complex tasks, AI offers a tantalizing glimpse into a future of unprecedented efficiency and innovation. This article delves into the multifaceted reasons behind this phenomenon, exploring why organizations are choosing to keep their AI contained within the familiar confines of their data silos.

AI 59
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Guarding the Gates: Data Compliance and Privacy

Segpay

The rise of data privacy concerns has led to a surge in global regulations, such as the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), which are drafted to protect peoples individual data protection rights.

Privacy 105
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Maximizing Efficiency in Financial Statement Preparation with Automation

FloQast

Companies that automate their financial statement preparation processes often benefit from improved accuracy, near real-time data, and increased efficiency. Fact: Companies that automate part of their financial statement preparation process reduce time-to-Close by 33% or more.

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Deep Dive: Credit Unions Work To Keep Members’ Data Private

PYMNTS

CUs’ Tools To Secure Member Privacy . credit unions have invested in anti-malware, firewalls and other technologies to protect members’ personal data, but such measures are reactive. Proper data security relies on active detection and anticipation of future threats rather than static defenses that cannot meet evolving security needs.

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GDPR Compliance for US Companies

VISTA InfoSec

The GDPR protects US citizens as data subjects while they use the internet in the EU or other EEA countries. Companies as Data Controllers & Processors GDPR Applicability: Contrary to certain U.S. Data Controller Classification: This implies that any U.S.-based GDPR and U.S.

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Recurring Billing: Definition, How it Works, and Best Practices

Stax

Rather than manually processing payments, recurring billing automates this process for predictability and consistency. Lower costs and improved cash flow Automating the billing process minimizes manual intervention in billing and collections, leading to significant cost savings through workflow improvements.

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What Is Plaid and Is It Safe to Use? Everything You Need to Know

Payment Savvy

Authentication The company implements industry-standard authentication and access controls to permit only authorized entities to access financial data. Compliance Plaid adheres to data protection regulations like GDPR and CCPA, as well as financial industry standards such as PCI DSS.