Think You Know Ransomware? Fighting Cybercrime: Weapons and Warriors

Think You Know Ransomware? Fighting Cybercrime: Weapons and Warriors

Cybercrime is no longer an inconvenience for an unlucky few—rather, it has far-reaching implications for the global economy, as well as national security. According to the World Economic Forum, the annual cost of cybercrime is projected to reach $10.5 trillion in 2025. In addition to economic consequences, hostile countries such as North Korea have been known to fund their weapons programs through cyberattacks and crypto theft. Therefore, fighting cybercrime should be a top priority for both governments and organizations of all sizes.

It is almost impossible to find an organization, or even an individual, who does not deal with the storage and transmission of data in one way or another. That makes anyone a target. And, unfortunately, the weakest links in the chain are oftentimes the users themselves. Anyone can mistakenly open a dangerous email or click on a malicious link, and that is all it can take to compromise an entire organization.

So how can organizations fight back and protect themselves from this looming threat?

Threat detection illustration

As technology enables more complex attacks, experts say that combatting cybercrime requires a human skillset—including security awareness education for each and every individual, as well as advanced cybersecurity technology paired with 24×7 monitoring. In the last video of their three-part series on ransomware, Sophos, an Aunalytics technology partner, explores ways the security community is fighting cybercrime—from blockchain analytics to advanced prevention techniques.

View the episode on Vimeo.

Are you certain your organization is fully protected? If you aren’t sure, the security experts at Aunalytics can help you determine your organization’s risk. We offer a complete suite of managed security services and maintain a highly secure cloud environment utilizing security best practices. Aunalytics partners with leading technologies in the security field, such as Sophos, to ensure that your organization always stays a step ahead of hackers and other bad actors. Don’t leave your organization vulnerable—contact Aunalytics today.


Think You Know Ransomware_ The Faces of Cybercrime: the Hunters and the Hunted

Think You Know Ransomware? The Faces of Cybercrime: The Hunters and The Hunted

Ransomware attacks are not simply a nuisance—a single attack can affect thousands of computers and servers, cost companies huge sums of money, or prevent businesses from operating altogether. And it’s not just large corporations that are at risk. Governments, universities, police forces, healthcare organizations, and even small businesses are brought to their knees by cybercrime. Anyone can be a victim—it can be as simple as one person clicking on a malicious link in an email.

Think You Know Ransomware: Hunters and Hunted

Once attacked, organizations are faced with a dilemma. Either pay a large ransom and hope the attacker will actually provide the key to recover their data, or try to mitigate the loss of data on their own, which can be expensive and extremely time consuming. Yet, even if an organization chooses to pay a ransom to recover data right away, they will likely still face negative consequences from the breech, including lost productivity, risk of litigation, and loss of customer trust.

Despite the magnitude of this issue, it has been very difficult for authorities to catch and prosecute cybercriminals. In fact, the problem is only getting worse as these individuals continue to succeed in making large sums of money from the comfort of their own homes—without facing any consequences.

Why are cybercriminals able to flourish, and what can we do to stop them? Part two of Sophos‘ documentary series on ransomware explores the risks of cybercrime to organizations both large and small, and examines the various factors that have led to an increase in ransomware attacks.

View the episode on Vimeo.

Are you certain your organization is fully protected? If you aren’t sure, the security experts at Aunalytics can help you determine your organization’s risk. We offer a complete suite of managed security services and maintain a highly secure cloud environment utilizing security best practices. Aunalytics partners with leading technologies in the security field, such as Sophos, to ensure that your organization always stays a step ahead of hackers and other bad actors. Don’t leave your organization vulnerable—contact Aunalytics today.


23 CULytics Day

2023 CULytics Day

August 22, 2023

2023 CULytics Day

Aunalytics to showcase Daybreak at 2023 CULytics Day

Aunalytics is pleased to be a Gold Sponsor of 2023 CULytics Day, where we will be sharing information on how AI can be used to help credit unions discover insights in their data and gain a more complete view of their members. Aunalytics’ cloud-native data platform, Daybreak™ for Financial Services, enables users to focus on critical business outcomes. Daybreak seamlessly integrates and cleanses data for accuracy, ensures data governance, and employs AI and machine learning to glean intelligence from transactional data.

23 CULytics Day

Think You Know Ransomware? The Origins of Cybercrime

Think You Know Ransomware? The Origins of Cybercrime

How well do you know ransomware? Security hacks and ransomware attacks are constantly in the news. In fact, in June 2023, a zero-day vulnerability in Progress Software’s MOVEit Transfer managed file transfer (MFT) product affected over 130 organizations and millions of individuals. And that is only the latest in a constant stream of cybercrime.

Since the advent of the internet, hackers have been developing increasingly sophisticated attacks. But what is most concerning may be that what was once only achievable by highly-skilled hackers is now accessible to anyone. Would-be cybercriminals can easily access the tools and knowledge via the internet to mount an attack. Currently, that most often takes the shape of a ransomware attack—which makes any industry with data a target. Despite this fact, many organizations and individuals continue to remain vulnerable.

Intense hacker committing a cybercrime

Sophos, a leading security software and hardware company, and one of Aunalytics’ technology partners, has released a three-part documentary series examining the history of cybercrime and how it affects everyone—from small businesses to local and national governments. The first episode examines origins of cybercrime and explores why many interconnected systems are susceptible to ransomware attacks. Watch it below:

View the episode on Vimeo.

Are you certain your organization is fully protected? If you aren’t sure, the security experts at Aunalytics can help you determine your organization’s risk. We offer a complete suite of managed security services and maintain a highly secure cloud environment utilizing security best practices. Aunalytics partners with leading technologies in the security field, such as Sophos, to ensure that your organization always stays a step ahead of hackers and other bad actors. Don’t leave your organization vulnerable—contact Aunalytics today.


23 Community Bankers Association of Ohio 49th Annual Convention

CBAO 49th Annual Convention

July 31 - August 2, 2022

CBAO 49th Annual Convention

Glass City Center, Toledo, OH

Aunalytics Attending the CBAO 49th Annual Convention

Aunalytics is excited to exhibit at booth #519 during the 2023 Community Bankers of Ohio 49th Annual Convention in Toledo, OH. Representatives from Aunalytics will be educating attendees on how financial institutions can use AI-driven insights to improve customer engagement and increase wallet share. Event attendees can also learn more about the Daybreak™ for Financial Services solution which enables community banks to more effectively identify and deliver new services and solutions so they can better compete with large national banks.

23 Community Bankers Association of Ohio 49th Annual Convention

Organizations Shift to Cloud-Based Analytics and IT Platforms

Organizations Shift to Cloud-Based Analytics and IT Platforms

The growth rates of cloud-based IT solutions in the areas of analytics and artificial intelligence have been substantial in recent years. The increasing volume of data and the need for faster, more accurate insights have driven organizations to adopt cloud-based analytics solutions at a rapid pace. This has resulted in the growth of cloud-based data warehousing, business intelligence, and big data analytics solutions.

Similarly, the growth of artificial intelligence has been driven by the cloud, as it allows organizations to access powerful AI algorithms and training data without having to invest in expensive hardware. The cloud has also made it possible for organizations to scale AI solutions quickly and easily, leading to an increase in the adoption of cloud-based machine learning and deep learning solutions. These trends are expected to continue as organizations look to leverage the power of AI and analytics to gain a competitive edge in the market.

Organizations Shift to Cloud-Based Analytics and IT Platforms (1)

This growth in cloud-based analytics and AI has been driven by the larger business adoption of cloud IT because of its numerous benefits such as increased flexibility, scalability, and cost savings. Cloud technology allows companies to access their data and applications from anywhere, reducing the need for physical infrastructure and freeing up resources for other areas of the business. This shift towards cloud computing has also improved disaster recovery and business continuity, as data can be stored and accessed remotely. Additionally, with the rise of cloud-based solutions, businesses have been able to access advanced technologies and services without having to invest in expensive hardware and software. This has resulted in increased competitiveness, innovation and better overall business performance.

APIs add efficiency and flexibility to cloud environments

The power behind the most widely adopted cloud platforms are APIs (Application Programming Interfaces), which play a crucial role as they allow different software systems to communicate with each other and access data from the cloud. This has enabled organizations to build custom solutions and integrate disparate systems seamlessly, making the use of cloud technology much more efficient and flexible.

APIs also allow for automation and streamlining of processes, reducing manual errors and freeing up time for more valuable tasks. APIs make it possible to add new functionality and services to existing systems, allowing for continuous improvement and innovation. In essence, APIs provide a bridge between the cloud and an organization’s systems, enabling organizations to harness the full potential of cloud computing and drive digital transformation.

Analytics moves to the cloud

In terms of business outcomes, cloud-based analytics allow businesses to access and process large amounts of data in real-time, regardless of the size or location of their operations. This enables organizations to make informed decisions quickly and respond to changing market conditions with agility. Secondly, these solutions are much more cost-effective, as businesses only pay for what they use and do not have to invest in expensive hardware or IT infrastructure. The cloud provides businesses with access to a wide range of advanced analytics tools and technologies, enabling them to gain insights from their data in new and innovative ways. These solutions are highly secure and reliable when they are managed by experienced cloud service providers who ensure that data is protected and the solution is always available. Overall, they are considered to be a better choice for businesses because of their scalability, flexibility, cost-effectiveness, and secure approach to data analysis.

Likewise, cloud-based AI or AI as a Service (AIaaS) provides organizations with access to deep insights without having to invest in expensive experts or the necessary hardware and software to implement such solutions. This makes it easier for organizations to deploy and scale AI solutions as they only pay for what they use and do not have to invest in maintaining their own infrastructure. Furthermore, these solutions are more flexible and can be customized to meet specific business requirements, enabling organizations to generate valuable insights that help them to differentiate from their competitors. Finally, cloud-based AI makes it possible for organizations to collaborate and share AI models, allowing them to leverage the collective expertise of their partners, customers, and employees to create better solutions. In short, it is a high-value choice for businesses as it provides a more accessible, scalable, affordable, and collaborative approach to artificial intelligence.

Moving to the cloud accelerates digital transformation

Leading research and advisory firm Gartner reported that “Cloud migration is not stopping, IaaS will naturally continue to grow as businesses accelerate IT modernization initiatives to minimize risk and optimize costs. Moving operations to the cloud also reduces capital expenditures by extending cash outlays over a subscription term, a key benefit in an environment where cash may be critical to maintain operations.”

Aunalytics provides a highly redundant and scalable cloud infrastructure that enables midsized businesses to reap the benefits of the cloud at a reasonable cost. The Aunalytics Cloud provides a wide range of solutions—including cloud storage, backup and disaster recovery, application hosting, advanced analytics, and AI. Moving from on-premises computing to a cloud environment is a key step in an organization’s digital transformation.


VMUG UserCon 2023

VMUG Indianapolis UserCon 2023

July 20, 2023

VMUG Indianapolis UserCon 2023

The Westin Indianapolis, Indianapolis, IN

Aunalytics to Attend VMUG User Group Indianapolis as a Bronze Sponsor

Aunalytics is excited to attend the VMWare User Group’s 2023 UserCon – Indianapolis. Aunalytics is participating as a Bronze sponsor and our team is excited to connect with fellow IT professionals to discuss digital transformation and innovation in the technology field.

VMUG UserCon 2023

Financial Institution Cyber Attacks Are on the Rise—Your Institution Is Not Immune

Financial Institution Cyber Attacks Are on the Rise—Your Institution Is Not Immune

With recent uncertainty in the economy and bank closures hitting the news this year, you may be scrambling to find ways to increase deposits to protect your institution. But a larger, more urgent risk has always been lurking. With over half of financial institutions reporting cyber attacks in a single year, your organization may be next.

Nearly every day we learn of new horror stories from financial institutions who were the victims of elaborate attacks—in fact, 55% reported being a victim of a cyber-attack in a single year.

Bad actors are becoming more sophisticated in their methods. These prevalent attacks have high costs to your business uptime and productivity. A bad attack can also damage your reputation due to closure and data loss, while still costing your bank or credit union large sums of money to pay off ransoms—and you may not even get all of your data back.

55% of financial institutions were hit by ransomware in the previous year

Financial institutions hit by cyber-attacks pay, on average, $272,655 in ransom payments. And the average overall cost to remediate the ransomware attack in this sector is $1.59 million.

Do you know where your data lives?

Where you store your data matters, and your storage location may not be optimal for disaster recovery. Storing your backups locally, even if located at another of your facilities, may not protect your data from unknown risks.

In-house servers require large capital expenditures, and you miss out on economies of scale for regular upkeep and maintenance. Giant vendors may seem convenient, but you won’t know exactly where your data resides, and you lose control over the environment.

There’s a  better way—Aunalytics backup and disaster recovery solutions can help you avoid losing data or paying large ransoms. We offer concierge solutions tailored to community banks and credit unions—helping you stay steps ahead of increasingly malicious attackers.

Enterprise Cloud Solutions Allow Businesses to Scale and Thrive

Backup and disaster recovery solutions enable the continuous operations of an organization during a disaster event, whether it involves a set of networks or servers, or when all primary IT services have become unavailable. Our solutions leverage the power of data, analytics, and Machine Learning. Disaster Recovery Services, coupled with a comprehensive backup and archival strategy, allow you to remain confident that you are prepared should your business encounter a disaster event.


Daybreak Logo

Study Reveals that Aunalytics Banking and Credit Union Clients Achieve Nearly 400% ROI Opportunity in One Year

Study

Study Reveals that Aunalytics Banking and Credit Union Clients Achieve Nearly 400% ROI Opportunity in One Year

The Aunalytics Daybreak™ for Financial Services data analytics solution provides customer intelligence to financial institutions. It delivers insights-as-a-service, including AI-powered predictive analytics models that can be applied to transactional data for fresh insights delivered daily. Early study results reveal that using Daybreak, Aunalytics’ clients achieved nearly 400% ROI in one year to grow new business from existing customers.


Investment in Artificial Intelligence is Vital for Banks and Credit Unions

Investment in Artificial Intelligence is Vital for Banks and Credit Unions

Has your bank or credit union made investments in artificial intelligence yet?

Advances in artificial intelligence (AI), and the promise it holds for the future, have been making news all year. And it’s no wonder that financial institutions are taking notice—a recent survey from the Economist Intelligence Unit found that 77% of bankers believe that unlocking value from AI will be the differentiator between winning and losing banks. Yet, many institutions are falling behind in AI maturity.

Despite its promise, making a large investment in artificial intelligence may seem risky to many midsized financial institutions. Hiring talent, developing a data management and analytics strategy, building a data platform, and creating AI models can be both time- and resource-intensive. Banks and credit unions want to ensure that the efforts spent to get an AI program off the ground will yield a high ROI, especially in times of economic uncertainty. Yet, failure to innovate and make progress toward digital transformation is not always an option in the highly competitive landscape.

Investment in Artificial Intelligence
Financial institutions find many uses for AI technologies

Thankfully, an investment in artificial intelligence can improve many processes across an institution. AI can optimize both time- and resource-intensive tasks, decrease risk, and increase revenue by improving the customer experience. For instance, by applying AI and machine learning algorithms to transactional data, banks and credit unions can gain insights into customers or members’ habits and preferences. Some use cases include:

  • Detecting and preventing fraud
  • Identifying loan default risk at the time of application
  • Predicting customer churn
  • Winning back business by discovering customer payments going to competitors, and subsequently making a more attractive offer
  • Predicting the next best product for each customer then targeting them with the right product at the right time
  • Calculating customer value scores in order to better allocate resources to target more valuable customers

Don’t get left behind

Large banks are already utilizing artificial intelligence use cases at scale. In a recent letter to shareholders, Jamie Dimon, Chief Executive Officer of JPMorgan Chase wrote, “Artificial intelligence (AI) is an extraordinary and groundbreaking technology. AI and the raw material that feeds it, data, will be critical to our company’s future success—the importance of implementing new technologies simply cannot be overstated.”

Because of this focus, his company has made tremendous investments in AI. They currently have over 300 AI use cases in production, and employ almost 3,000 people in data management, data science, and AI-research-related roles. This underscores how vital these new technologies are to success in the future.

Unfortunately, not every institution has access to talent and technology at the scale of JPMorgan Chase. That’s why Aunaytics has developed a cloud-based data and analytics platform to provide data management, advanced reporting, and predictive AI and machine learning solutions for midsized community banks and credit unions.

Daybreak for Financial Services allows institutions to learn more about their customers and members in order to provide a better overall experience—which in turn reduces risk, increases wallet share, and reduces expenses.