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How will FinTech help shape the Covidian world?

To say that the events of 2020 shifted business priorities would be a huge understatement. Organizations across the world had to entirely change their way of working, some adapting to an unprecedented situation at a moment’s notice. Digitalization has been accelerated, commerce has moved online, and millions of employees have had to leave the office and work from home. But what does all this mean for 2021 and, beyond that, the post-Covid world?

Technology has clearly played a significant role in allowing organizations to adapt to Covid-19 regulations. Many businesses have been more reliant on technology than ever before; processing transactions exclusively online, engaging with employees remotely, and communicating with clients virtually. Unsurprisingly, this has cast a spotlight on financial technology – or FinTech – as organizations manage their finances from home. Unfortunately, all of these changes bring greater cybersecurity risks than ever before – with 81% of business leaders agreeing that Covid-19 has increased the need for improved security of finances.

This need – although intensified by lockdowns across the globe – will continue even as the world aims to recover from the economic impacts of Covid-19 measures. For many businesses, FinTech can help to bolster profitability as they navigate the undoubtedly perilous journey to a post-Covid world. While it is difficult to predict what the world will look like in the future, there are some signs of what may be to come.

Working from home, for hundreds of organizations, is here to stay – either as the sole mode of work or as part of a hybrid model – so we will continue to see increased use of technology. Digitalization is unlikely to backslide in any major way, with business leaders continuing to drive progress through new innovations.

In this emerging situation, organizations are looking more to FinTech solutions to manage, streamline, and consolidate their finances. ESET’s global FinTech survey found that 68% of business leaders expect their company’s investment to increase by some extent – and over a quarter (27%) expect this investment to increase greatly. This will likely increase use of FinTech solutions that are already popular, such as online payment processors and online accounting, alongside an uptake in solutions that are less widely adopted. With Covid-19 potentially leaving a legacy of ongoing restrictions, online cross-border payments may become far more popular, as well as branchless banks and online cashflow management. Adopting some of these solutions will allow organizations to manage their finances remotely, rather than being tethered to a set location.

Unfortunately, as businesses’ priorities shift, so too will the threats they face. CISOs have also chimed in; following the first Covid-19 lockdowns more business processes moved online, especially financial processes, and with them came a wider range of ways for threat actors to attack an organization. It may be easier to adopt FinTech applications rather than managing finances in person, but keeping these systems secure brings new challenges.

One of these challenges is data security, as 10% of managers surveyed think that FinTech solutions such as branchless banks and online lending make company data less secure. This may be a particular risk moving forward, as business leaders adapt quickly and implement new financial processes that they may not fully understand. FinTech applications should be designed with security in mind, but if decision makers do not appreciate the value of security, they may be putting their organizations at risk.

Whether or not they increase the use of FinTech, businesses will need to prioritize cybersecurity in order to safeguard post-Covid recovery. Many look set to embrace innovation with a range of FinTech solutions, from branchless banks to online cashflow management, as part of their roadmap for the future. With the right FinTech tools, properly secured against hacks, organizations will be better positioned to adapt and transform for an uncertain future.

We’ll reveal additional findings from ESET’s FinTech study throughout early 2021. For more information on ESET, and how security software can help to protect you and your business, visit www.eset.com.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About ESET
For 30 years, ESET® has been developing industry-leading IT security software and services for businesses and consumers worldwide. With solutions ranging from endpoint security to encryption and two-factor authentication, ESET’s high-performing, easy-to-use products give individuals and businesses the peace of mind to enjoy the full potential of their technology. ESET unobtrusively protects and monitors 24/7, updating defenses in real time to keep users safe and businesses running without interruption. Evolving threats require an evolving IT security company. Backed by R&D facilities worldwide, ESET became the first IT security company to earn 100 Virus Bulletin VB100 awards, identifying every single “in-the-wild” malware without interruption since 2003.

Sex in the digital era – ESET reveals new research into security of smart sex toys

BRATISLAVA – Vulnerabilities in smart sex toys could leave users at risk of data breaches and attacks, both cyber and physical, according to a new white paper from global cybersecurity experts at ESET. The Sex in the Digital Era – How secure are smart sex toys? report explores the potential security and safety flaws of connected sex toys and includes an in-depth analysis of two popular devices. Amidst ongoing social restrictions due to the pandemic, sales of sex toys has risen rapidly, and associated cybersecurity concerns mustn’t be overlooked. As newer, technologically advanced models of sex toys enter the marketplace, incorporating mobile apps, messaging, video chat, and web-based interconnectivity, devices become more appealing and exploitable to cybercriminals. The consequences of data breaches in this sphere can be particularly disastrous when the information leaked concerns sexual orientation, sexual behaviors, and intimate photos. ESET researchers found vulnerabilities in the apps controlling both of the smart sex toys investigated. These vulnerabilities could allow for malware to be installed on the connected phone, firmware to be changed in the toys, or even a device being deliberately modified to cause physical harm to the user. To address these dangers and investigate how secure smart toys are, ESET researchers analyzed two of the best-selling adult toys on the market: the We-Vibe ‘Jive’ and Lovense ‘Max’. Analysts downloaded the vendor apps available on the Google Play Store for controlling the devices (We-Connect and Lovense Remote) and used vulnerability analysis frameworks as well as direct analysis techniques to identify flaws in their implementations. We-Vibe As a wearable device, the We-Vibe Jive is prone to usage in insecure environments. The device was found to continually announce its presence in order to facilitate a connection – meaning that anyone with a Bluetooth scanner could find the device in their vicinity, up to eight meters away. Potential attackers could then identify the device and use signal strength to guide them to the wearer. The manufacturer’s official app would not be required to gain control, as most browsers offer features to facilitate this. The Jive utilizes the least secure of the BLE pairing methods, whereby the temporary key code used by the devices during pairing is set to zero, and as such, any device can connect using zero as the key. The Vibe is highly vulnerable to man-in-the-middle (MitM) attacks, as an unpaired Jive could bond automatically with any mobile phone, tablet, or computer that requests it to do so, without carrying out verification or authentication. Although multimedia files shared between users during chat sessions are saved in the app’s private storage folders, the files’ metadata remains on the shared file. This means that every time users send a photo to a remote phone, they may also be sending information about their devices and their exact geolocation. Lovense Max has the ability to synchronize with a remote counterpart, which means an attacker could take control of both devices by compromising just one of them. However, multimedia files do not include metadata when received from the remote device, and the app offers the option to configure a four-digit unlock code via a grid of buttons, making brute-force attacks more difficult. Some elements of the app’s design may threaten user privacy, such as the option to forward images to third parties without the knowledge of the owner and deleted or blocked users continue to have access to the chat history and all previously shared multimedia files. Lovense Max does not use authentication for BLE connections either, so a MitM attack can be used to intercept the connection and send commands to control the device’s motors. Additionally, the app’s use of email addresses in user IDs presents some privacy concerns, with addresses shared in plain text among all the phones involved in each chat. ESET researchers Denise Giusto and Cecilia Pastorino warn: “There are precautions that need to be taken to ensure that smart sex toys are designed with cybersecurity in mind, especially due to the severity of potential dangers. Although security seems not to be a priority for most adult devices at the moment, there are steps individuals can take to protect themselves, such as avoiding using devices in public places or areas with people passing through, such as hotels. Users should keep any smart toy connected to its mobile app while in use, as this will prevent the toy from advertising its presence to potential threat actors. As the sex toy market advances, manufacturers must keep cybersecurity top of mind, as everyone has a right to use safe and secure technology.” Both developers were sent a detailed report of the vulnerabilities and suggestions of how to fix them, and, at the time of publication, all vulnerabilities have been addressed. To read more about ESET’s full analysis of the security of these smart sex toys, Sex in the Digital Era can be read here.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About ESET
For 30 years, ESET® has been developing industry-leading IT security software and services for businesses and consumers worldwide. With solutions ranging from endpoint security to encryption and two-factor authentication, ESET’s high-performing, easy-to-use products give individuals and businesses the peace of mind to enjoy the full potential of their technology. ESET unobtrusively protects and monitors 24/7, updating defenses in real time to keep users safe and businesses running without interruption. Evolving threats require an evolving IT security company. Backed by R&D facilities worldwide, ESET became the first IT security company to earn 100 Virus Bulletin VB100 awards, identifying every single “in-the-wild” malware without interruption since 2003.

Scale Computing HE150 Named to SearchStorage’s 2020 Storage Products of the Year, Best Enterprise Storage Systems and Products of 2020

INDIANAPOLIS – February 24, 2021 – Scale Computing, a market leader in edge computing, virtualization, and hyperconverged solutions, today announced its HE150 won silver in TechTarget’s Storage Magazine and SearchStorage.com’s annual Products of the Year Awards for 2020 in the Hyperconverged & Composable Infrastructures category. Scale Computing’s HE150 appliance is the industry’s smallest and most powerful edge computing appliance, and is part of the “best enterprise storage systems and products.”

In its announcement, SearchStorage noted that: “Scale Computing’s HE150 appliance earned silver for being, among other things, one of the first fully functional hyperconverged systems to use Intel’s small form factor, four-by-four inch Next Unit of Computing (NUC) mini-computer. About the size of an Apple TV set-top box, the HE150 doesn’t skimp on features even at such an edge-friendly size. Additional features include remote and fleet management capabilities, as well as machine learning to detect infrastructure issues.”

“We’re thrilled to be recognized in the Hyperconverged & Composable Infrastructures category. It’s a testament not only to the functionality HE150 brings to market, but to the innovation focus of our team,” said Jeff Ready, CEO and co-founder of Scale Computing. “The Scale Computing HE150 appliance consolidates storage, compute, and virtualization into a single unit that can literally be held in the palm of your hand. By eliminating the need for multiple dedicated servers, customers can eliminate complexity from their infrastructure, mitigate issues faster and more efficiently, and reduce their cost structure.”

The HE150 appliance combines Scale Computing’s self-healing platform for autonomously running applications at the edge with a small, all-flash NVMe storage-based compute appliance that delivers all of the simplicity, efficiency, and enterprise-ready virtualization associated with Scale Computing’s HC3 platform.

This win comes on the heels of other recent industry recognition, including:

  • Gartner Magic Quadrant for Hyperconverged Infrastructure (December 2020), which recognized Scale Computing for the fourth consecutive year.
  • TrustRadius Customer Satisfaction Awards, which awarded Scale Computing first place for 2021 Best Feature Set, Best Usability, and Best Customer Support.
  • GigaOm Radar Report for Hyperconverged Infrastructure: Small-to-Medium Enterprises and Edge that named Scale Computing a “Leader” and “Outperformer.”
  • 2020 CRN® Product of the Year, which selected Scale Computing HE150 as the Internet of Things category winner.
  • CRN’s 2020 Tech Innovator Award that awarded HE150 first place for Edge Infrastructure.
  • Cloud Computing Outlook, which recognized Scale Computing as a Top Edge Computing Solution Provider.

The 2020 Storage Products of the Year awards were judged by the Storage magazine and SearchStorage editorial staff, in conjunction with industry experts, analysts, and consultants. Judges selected the winners according to the following criteria: innovation, performance, ease of integration into existing environments, ease of use and manageability, functionality, and value. This is the 19th annual Storage magazine and SearchStorage Products of the Year awards. Winners were announced in the February 2021 issue of Storage magazine and online at SearchStorage.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Scale Computing 
Scale Computing is a leader in edge computing, virtualization, and hyperconverged solutions. Scale Computing HC3 software eliminates the need for traditional virtualization software, disaster recovery software, servers, and shared storage, replacing these with a fully integrated, highly available system for running applications. Using patented HyperCore™ technology, the HC3 self-healing platform automatically identifies, mitigates, and corrects infrastructure problems in real-time, enabling applications to achieve maximum uptime. When ease-of-use, high availability, and TCO matter, Scale Computing HC3 is the ideal infrastructure platform. Read what our customers have to say on Gartner Peer Insights, Spiceworks, TechValidate and TrustRadius.

The Importance of Gartner Peer Insights for Technology Providers and Users

One of the most debated subjects on the market is Digital Transformation, now boosted by the Covid-19 pandemic. We heard about the adoption of technologies to transform business processes not only during “lives”, but also in articles, conferences, and even family gatherings. In addition to the migration to distributed models, the home office, and new working tools, the digital transformation has also resulted in the modernization of communication channels with customers.

The strategic plans of organizations and projects considered to be of low priority had to be revised; medium and long-term goals had to be accelerated to take place in a few weeks; also, strategies never thought of have been implemented in the short term. Organizations and their leaders realized that if they did not implement the required changes, business continuity would be affected. So much so that, according to the Gartner CEO and Senior Business Executive Survey, 82% of CEOs have some initiative related to digital transformation, in comparison with 62% in 2018.

In these times of high competitiveness, one of the greatest advantages offered by organizations is the relationship approach with customers. More and more people in companies consider their responses during the entire consumption process, from identifying the purchase need to after-sales.

Gartner itself brings what they call the Total Experience as one of the 10 strategic technology trends for 2021. Total Experience combines multi-experience, Customer Experience (CX), Employee Experience, and User Experience (UX) to transform business results. The goal, according to Gartner, is to improve the overall experience, in which all these areas intercede, from technology for employees to consumers and users.

Taking into account that employees are giving more value to the user experience with the products and solutions available on the market, Gartner launched Peer Insights, so that users could share their impressions and opinions about IT suppliers.

Gartner Peer Insights is a free evaluation and review platform for Technology solutions and services, covering more than 300 markets, aligned with the categories from the Magic Quadrant and Market Guide reports, including 3,000 suppliers. Each review submitted by users is verified by the Gartner team to ensure that their perceptions and views at each of the different stages of the purchase process are completely authentic. And to ensure that reviews are impartial, Gartner does not allow vendors to offer any financial incentives to users who evaluate their products or services. However, Gartner itself offers gift cards and does not prohibit vendors from doing so either. It is important to note that the value of gift cards should not exceed USD 25.

Each of the reviews submitted by users is verified in a process composed of several steps, including the definition of the user and organization profile, in addition to their role and responsibilities. This verification, which usually takes a few days, is done based on the inspection of the verified corporate email and LinkedIn profile. Additionally, the user cannot be an employee, consultant, reseller, or competitor of the vendor and product to be evaluated.

After submission, user reviews are assessed to determine whether they meet Gartner Peer Insights requirements related to context, quality, and relevance.

Some characteristics expected by Gartner are:

  • Comments consistent with the respective scores.
  • Variance of scores in the review, considering it unlikely that a user will have the same score for all aspects of a product or service.
  • Scores are logically consistent, taking into account general and specific scores.
  • Demonstration of experience in relation to the product or service being reviewed.

The reviews must also be authored by the user, with generic comments, and must not contain data that allow the user to be identified. Comparisons with competitors and financial data are not allowed either.

It is important to emphasize that, after the review is published, personal data of users, such as the name of the user or organization, are not displayed, only the industry in which the company operates and its respective size, geographic region, and revenue data.

Gartner recognizes the importance of user insights, so much so that it included them in the methodologies for evaluating the Magic Quadrant processes in order to assist customers in their effective decisions in a specific market. For vendors, Gartner Peer Insights allows them to use feedback from their consumers to reinforce their strengths, display quotes from customers, and highlight their position in the market.

For this, Gartner offers resources through the Technology Provider Tools portal that can be used to encourage customers to send their reviews, including best practices, customer communication templates, and tools. These resources allow providers to generate their links for requesting reviews and obtain indicators for measuring the success in using the tool, for example.

By using a platform like Gartner Peer Insights and its resources, it is possible to offer the user a free environment to evaluate their impressions and, thus, help others to choose IT products and services. As for vendors and providers, the platform allows them to check the general satisfaction towards what they offer to the market, in addition to being able to offer upselling, acquisition of other products and services of the company, and even refer them to others. The practical result of this is, in addition to more satisfied customers, a better perception of these products and services on the market, which leads to an increase in revenues and customers. In short: this is one of the secrets to the success of any organization.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Segura®
Segura® strive to ensure the sovereignty of companies over actions and privileged information. To this end, we work against data theft through traceability of administrator actions on networks, servers, databases and a multitude of devices. In addition, we pursue compliance with auditing requirements and the most demanding standards, including PCI DSS, Sarbanes-Oxley, ISO 27001 and HIPAA.

What are the main features of a PAM solution?

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Privileged Access Management (PAM) is formed by a set of cybersecurity strategies and technologies to exercise control over privileged access and permissions for users, accounts, processes, and systems in a technological environment.

A PAM is an ideal solution for preventing and mitigating damage resulting from external attacks, as well as from the neglect of internal employees and other insider threats against privileged credentials, specifically.

Although PAM encompasses many strategies, the main goal of the solution is to apply the concept of least privilege, which concerns the restriction of access rights and permissions for users, accounts, applications, systems, devices, and computing processes to the absolute minimum access required for them to perform their daily activities.

For this reason, PAM is considered by many experts and technologists to be one of the most important cybersecurity solutions for reducing cyber risks and obtaining a relevant security return on investment (ROI).

In today’s article, we explore the main features of a PAM solution and clarify some of the goals of this technology. Keep reading it and find out more about the PAM features.

PAM x IAM

PAM is generally related within a broader scope of Identity and Access Management (IAM).

However, IAM controls provide identity authentication to ensure that a legitimate user has the correct access. Meanwhile, PAM offers visibility, management, and auditing in a detailed way about privileged identities and activities.

Together, PAM and IAM provide refined control, visibility, and auditing capabilities over all existing credentials and privileges in a systemic environment.

Here, we also talk about the main features of a PAM solution and its benefits. If you want to learn more about IAM and how this solution complements PAM, read our article entitled “xxxxx”.

Features of a PAM solution

Privileged access or privileged account is a term used to designate access or special skills above and beyond that of a default user. Privileged access allows organizations to protect their infrastructure and applications, manage businesses efficiently, and maintain the confidentiality of sensitive data and critical infrastructure.

Privileged access can be associated with human users, as well as non-human users, such as applications and machine identities.

Thus, PAM is a solution for managing these privileged accesses. Its main goal is protecting and controlling the use of impersonal and high-privilege credentials, providing secure storage, segregation of access, and full use traceability.

To perform this management of credentials, the PAM solution uses the configuration of Access Groups to define the administrator users who will be allowed to use the password for physical access, and the group of users who can use the remote access offered by the solution to access a target device or system.

All cases may respect approval workflows and validation of explanations provided by the requesting user.

In addition to these basic functions, we present below other possibilities for PAM solutions.

  • Emergency Accounts: Provide users with administrator access to secure systems in case of an emergency. Access to these accounts requires the approval of the system manager for security reasons. This is usually a manual process that requires security measures.
  • Local administrative account management: shared accounts that provide administrator access to the localhost or a session only. These local accounts are routinely used by IT staff for maintenance on workstations and servers, network devices, and other internal systems.
  • Application Account Management: These accounts are used by applications to access databases, perform tasks, run scripts, or provide access to other applications. These privileged accounts often have access to sensitive confidential information within applications and databases.
  • Active Directory Integration: A challenge to protect, to say the least, passwords can be even more challenging if changes need to be made, as they require synchronization between various systems and applications.
  • Service Account Management: Local or domain accounts used by an application or service to interact with the operating system. In some cases, these service accounts have administrative privileges on domains, depending on the requirements of the application for which they are used.
  • Domain Administrative Account Management: super administrators who have privileged access to all workstations and servers within the organization’s domain and provide the widest access over the network. Because they have access to administrative accounts, they are a constant target for hackers.
  • Privileged User Account Management: These are users who receive administrative privileges for the systems. Privileged user accounts are one of the most common forms of account access granted in a corporate domain, allowing users to have administrator rights, for example, on their local desktops or on the systems they manage. These accounts often have unique and complex passwords, but most of the time, they are only protected by the passwords.

The more privileges and access a user, account, or process accumulates, the greater the potential for abuse, exploitation, or error. The implementation of privilege management not only minimizes the potential for a security breach to occur, but also helps to limit the scope of one if it occurs.

Benefits of a PAM solution

A counterpoint between PAM and other types of security technologies is that PAM covers various links in the cyberattack chain, protecting against external attacks and insider threats.

PAM provides several key benefits, including:

  • Reduced Infection and Malware Spread: Many varieties of malware need elevated privileges for installation or execution. Removing excessive privileges, such as applying company-wide least privilege principles, can prevent malware from establishing itself or reducing its spread if it occurs.
  • Operational Performance: restricting privileges to the minimum range of processes to perform an authorized activity reduces the chance of incompatibility problems between applications or systems, in addition to helping reduce the risk of downtime.
  • Compliance: By restricting the privileged activities that can be performed, PAM helps to create a less complex and therefore more friendly environment for audits.

Also, many compliance regulations (including HIPAA, PCI DSS, FDDC, Government Connect, FISMA, and SOX) and data protection laws (such as GDPR, LGPD, and CCPA) require organizations to apply least privilege access policies to ensure adequate data management and system security.

When used to manage privileged access on organizational systems and platforms that store or protect the integrity of sensitive data, senhasegura provides a centralized access point for critical systems. Its features allow strengthening the access control, limiting the user access only to what was previously authorized, respecting the principle of least privilege.

About Version 2 Digital

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.

Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.

About Segura®
Segura® strive to ensure the sovereignty of companies over actions and privileged information. To this end, we work against data theft through traceability of administrator actions on networks, servers, databases and a multitude of devices. In addition, we pursue compliance with auditing requirements and the most demanding standards, including PCI DSS, Sarbanes-Oxley, ISO 27001 and HIPAA.