Technology
Jones Walker Unveils 2024 Cybersecurity Survey Exposing Critical Gaps in Community and Mid-Size Banks
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2 days agoon
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The survey reveals under preparedness in prevention, third-party vendor risks, and the need for technological advancement
NEW ORLEANS, Nov. 12, 2024 /PRNewswire/ — Jones Walker LLP today announced the release of its 2024 Community and Mid-Size Banks Cybersecurity Survey, the fourth in the law firm’s series of industry-focused, biannual cybersecurity studies. The comprehensive report highlights significant vulnerabilities and areas for improvement among community and mid-size banks in the United States.
Experience the full interactive Multichannel News Release here: https://www.multivu.com/jones_walker/9234351-en-jones-walker-2024-cybersecurity-survey
Based on responses from 125 banking executives, including senior risk, technology, and information security leaders, the survey provides a detailed assessment of the current state of cybersecurity awareness, confidence, and preparedness in the banking sector.
This survey is the national law firm’s fourth on the topic of cybersecurity for critical industries. In 2018, the firm’s first survey focused on the greater maritime industry. The second survey, in 2020, focused on the midstream oil and gas sector, and in 2022, the third survey focused on the nation’s ports and terminals.
Key Takeaways:
1. Post-Incident Regulatory Compliance is Slowly Improving, but Prevention and Preparedness are Lacking: The banking sector is highly regulated, which makes data security, data privacy, and data breach compliance a top priority for banking executives. However, only 42% of respondents felt their own bank was very prepared for cyber threats, considering that only 61% of banks have established specific incident response teams with clearly assigned roles and responsibilities and 37% fail to encrypt sensitive information.2. The Lack of Due Diligence Performed on Third-Party Vendors is a Significant Risk: While virtually all, 99%, of community and mid-size banks rely in part or in full on the services of third-party vendors to address their cybersecurity needs, only 71% hold them accountable for contractual, legal, or regulatory liability, and a mere 23% require vendors to indemnify them against data breaches.3. Banks Are Underutilizing Outside Counsel and Cybersecurity Professionals: Fifty-seven percent of respondents do not engage experienced cybersecurity attorneys, increasing their exposure to regulatory and legal risks. In addition, only 32% use outside pre- and post-incident forensic consultants, potentially hindering effective breach response and recovery. On top of that, 59% have not reviewed their cyber insurance policies to ensure adequate coverage.4. Responsibly Embracing Emerging Technology Delivers Significant Advantages: Community and mid-size banks are hesitant to implement emerging technologies like artificial intelligence (AI) for cybersecurity enhancements. With large banks adopting AI, this hesitancy may make community and mid-size banks more vulnerable targets if they do not keep pace.
Author Commentary:
“Cyber threats are evolving rapidly, and community and mid-size banks must enhance their cybersecurity posture to protect their customers and assets,” said Andy Lee, a partner and co-leader of Jones Walker’s privacy, data strategy, and artificial intelligence team and Technology Industry Team. “Our survey reveals that while banks are aware of the risks, many are not taking sufficient proactive measures to prevent breaches.”
Tom Walker, a partner on the firm’s Banking & Financial Services Industry Team and a former community bank executive vice president and director, said, “Third-party vendors are a critical resource for community banks, but also a significant source of risk. As our survey clearly points out, community and mid-size banks can do more to mitigate the risks posed by third-party vendors to their information systems, reputations, and customers’ data by following industry and regulatory standards for planning, due diligence, selection, contract negotiation, and monitoring.”
“Banks are highly regulated, but many third-party vendors are not. It is critical that banks conduct thorough due diligence on their vendors and ensure robust contractual protections are in place,” added Rob Carothers, a partner on the firm’s Banking & Financial Services Industry Team.
“As big banks continue to bolster defenses with sophisticated security technologies, cybercriminals are shifting focus to community and other smaller banks,” warned Jason Loring, a partner and co-leader of Jones Walker’s privacy, data strategy, and artificial intelligence team. “AI-based tools, however, can serve as a great equalizer for smaller banks that may have more limited resources, so long as those tools are implemented responsibly. This can help these banks maintain levels of fraud protection, regulatory compliance and operational efficiency commensurate with larger institutions.”
“We urge small and mid-size banks to shift their security mindset to one focused on cyber resilience, which emphasizes the need to anticipate new threats and continuously improve cybersecurity measures, rather than the traditional notion of achieving a static state of cybersecurity,” encouraged Lara Sevener, a partner and co-leader of the firm’s Technology Industry Team. “As security threats are constantly evolving, focusing on a culture of cyber resilience – in which organizations implement a holistic approach that includes anticipation of cyber threats likely to occur, implementation and continuous improvement of security practices and defenses, and a strong focus on business continuity in the wake of an attack – will help to minimize the disruption and negative impacts caused by any future cyber event.”
Best Practices:
Enhance Focus on Prevention and Preparedness: Shift from reactive compliance to proactive measures, including regular training, testing, and updating of cybersecurity policies.Increase Oversight of Third-Party Vendors: Conduct thorough due diligence, enforce robust contractual terms, and hold vendors accountable for security obligations.Leverage Outside Legal Counsel: Engage experienced cybersecurity attorneys and consultants to mitigate regulatory and legal risks and improve breach response.Adopt Emerging Technologies: Embrace AI and other advanced technologies to enhance cybersecurity defenses and stay competitive.
Given community and mid-size banks’ unique position at the center of local and regional economies and the trillions of dollars in assets and loans they collectively manage, they are a prime target for threat actors. We commend the strides the sector has taken so far and urge stakeholders to bolster their cyber readiness to further improve their banks’ defenses.
The 2024 Community and Mid-Size Banks Cybersecurity Survey is part of Jones Walker’s ongoing commitment to provide valuable insights into cybersecurity trends across critical industries.
About Jones Walker
Jones Walker LLP (joneswalker.com) is among the largest 145 law firms in the United States. With offices in Alabama, Arizona, the District of Columbia, Florida, Georgia, Louisiana, Mississippi, New York, and Texas, we serve local, regional, national, and international business interests. The firm is committed to providing a comprehensive range of legal services to major multinational public and private corporations, Fortune® 500 companies, money center banks, worldwide insurers, and emerging companies doing business in the United States and abroad.
All of the sources quoted in this news release are available for interviews and private briefings. Please follow a discussion about our 2024 Community and Mid-Size Banks Cybersecurity Survey on LinkedIn: #JonesWalkerCyberSurvey.
Media Contact:
Amanda Ferrari
aferrari@hellermanllc.com
440-465-6162
View original content:https://www.prnewswire.com/news-releases/jones-walker-unveils-2024-cybersecurity-survey-exposing-critical-gaps-in-community-and-mid-size-banks-302302817.html
SOURCE Jones Walker LLP
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Thermaltake Black Friday and Cyber Monday Sale Offers Savings of Up to 250 Dollars on Gaming PCs and 35 Percent on PC Cases Starting November 21
Published
8 minutes agoon
November 14, 2024By
Shop Exclusive Deals on Gaming Desktops, PC Cases, Coolers, and Power Supplies at Amazon, Best Buy, Newegg, and Thermaltake website for a Limited Time Through December 2
WALNUT, Calif., Nov. 14, 2024 /PRNewswire-PRWeb/ — Thermaltake, a global leader in PC gaming hardware, is excited to announce its highly anticipated Black Friday and Cyber Monday sales event, running from November 21 to December 2, 2024. Just in time for the holiday season, this event offers exclusive discounts on around 60 top-rated gaming products, including savings of up to 35 percent on PC cases and up to 250 dollars off select gaming desktops. Customers can also take advantage of additional deals on cooling solutions, power supplies, and accessories.
Highlighting this promotion are flagship prebuilt gaming desktops powered by the latest Intel® Core processors and NVIDIA® GeForce RTX™ 40 series graphics cards, premium PC cases, cooling fans, and AIO liquid coolers. These unbeatable offers will be available through major online retailers, including Amazon, Best Buy, Newegg, and Thermaltake Website, providing gamers and enthusiasts the perfect opportunity to upgrade their setups with high-performance, reliable gear just in time for the holidays.
“Thanksgiving, Black Friday, and Cyber Monday have become a celebrated tradition for shoppers across the nation. Thermaltake is excited to be part of this festive season, offering an array of special deals as a token of appreciation to our valued customers and the gaming community,” said Michael Guo, Vice President of Thermaltake USA. “We invite every gamer to take advantage of these special offers. Our promotion, available through major e-tailers like Amazon, Best Buy, and Newegg, offers a great opportunity for enthusiasts to enhance their gaming experience.”
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All Thermaltake pre-built gaming desktop PCs and PC DIY components are backed by the comprehensive Thermaltake USA warranty program, ensuring consumers with reliable performance and peace of mind through trusted warranty coverage. To learn more: https://support.thermaltake.com/csWarranty.aspx
About Thermaltake
Thermaltake Technology was established in 1999 and has been marketed worldwide under the Thermaltake brand name ever since. With the mission to “Deliver the perfect user experience,” Thermaltake has since become the leading brand in Gaming Computer Hardware: from chassis, power supply units, cooling systems, and memory modules to gaming PCs, gaming peripherals, and gaming furniture. Thermaltake is the leader in the PC DIY, Case Mod & Gaming Market and is the number one choice for Gamers, Modders & PC DIY Enthusiasts worldwide.
Official website: https://www.thermaltakeusa.com
Follow Thermaltake USA
Facebook: https://www.facebook.com/ThermaltakeNA
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TikTok: https://www.tiktok.com/@thermaltakena
Media Contact
Andrew Ouyang, IDEE Creatives, 8182824968, andrewouyang@ideecreatives.com, www.ideecreatives.com
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SOURCE Thermaltake
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Agora Launches Smart Questionnaire to Simplify the Onboarding and Subscription Process For Real Estate Investors
Published
8 minutes agoon
November 14, 2024By
The new tool converts complex signature documents into personalized, interactive, and simple questionnaires.
NEW YORK, Nov. 14, 2024 /PRNewswire/ — Agora, a leading real estate investment management platform with offices in New York City and Tel Aviv, is announcing the launch of its Smart Questionnaire. This tool is designed to help real estate LPs complete subscription agreements, and ultimately empower GPs to raise capital faster. Agora’s Smart Questionnaire reduces the complexity of the subscription process, helping convert complex signature documents into simple, personalized interactive questionnaires.
What the Smart Questionnaire does:
Transforms Complex Documents: Converts subscription documents into simple, interactive questionnaires that investors can complete with ease.Personalizes Content for Investors: Allows GPs to create interactive, pre-filled questionnaires that are simple and efficient for LPs to complete.Facilitates Seamless Collaboration: Supports multi-user input, allowing LPs, GPs, family offices, and others to complete sections collaboratively.Supports Efficient Revisions: Allows investors to correct only the necessary fields without redoing the entire form, minimizing back-and-forth.Streamlines Key Processes: Simplifies creation and completion of subscription agreements, operating agreements, and limited partnership agreements, making onboarding faster and more user-friendly.
“Agora has cracked the code for investor onboarding with our Smart Questionnaire. The tool turns complex subscription agreements into digital, interactive questionnaires that investors can complete in a few clicks,” stated Lior Dolinski, Co-Founder and Chief Product Officer of Agora. “This solution not only simplifies the process for investors but also enhances collaboration between LPs and GPs, creating a smoother, more efficient experience for real estate investment firms.”
Agora’s Smart Questionnaire offers the opportunity to enhance investors’ experiences with personalized workflows, simplify and speed up onboarding and investor commitments, and make for easier collaboration – similar to many of its other tools designed specifically for real estate professionals. Further, the launch of the Smart Questionnaire comes shortly after the launch of Agora’s Report Builder, a first-of-its-kind tool that helps real estate professionals create custom reports for clients, such as distribution notices, quarterly reports, and more, and is similar to website-building tools such as Wix or Squarespace, incorporating drag-and-drop functionality and dynamic fields. Additionally, Agora also launched its Waterfall Tool, which helps professionals navigate waterfall distributions – a method of allocating capital gains or returns among investors.
Book a demo to learn more about Agora here: https://agorareal.com/
About Agora:
Agora, a fintech and SaaS company based in New York City and Tel Aviv, offers an innovative real estate investment management platform designed for modern real estate investment businesses. This comprehensive software solution combines technology, automation, and real estate expertise to streamline investment management. Agora transforms how firms raise and preserve capital, delivering a seamless, efficient experience for both managers and investors by automating back-office tasks, enhancing investor satisfaction, and providing advanced tools to optimize operational efficiency. Core services include investor portals, CRMs, data rooms, automated investor onboarding, and expert CPA for bookkeeping and tax management, giving clients comprehensive control over their financial operations. Additionally, Agora delivers powerful data insights, enabling clients to make informed, data-driven decisions across a wide range of asset classes, including multifamily, residential, industrial, office, agriculture, and debt and equity funds.
View original content to download multimedia:https://www.prnewswire.com/news-releases/agora-launches-smart-questionnaire-to-simplify-the-onboarding-and-subscription-process-for-real-estate-investors-302304705.html
SOURCE Agora Real Estate
Technology
Millimeter Wave Technology Market is expected to generate a revenue of USD 14.8 Billion by 2031, Globally, at 9.5% CAGR: Verified Market Research®
Published
8 minutes agoon
November 14, 2024By
Verified Market Research® a leading provider of business intelligence and market analysis is thrilled to announce the release of its comprehensive and authoritative report on the, “Millimeter Wave Technology Market Size and Forecast.” This in-depth market research report is designed to provide industry leaders, decision-makers, and technology experts with critical insights into the expanding world of millimeter wave technology, emphasizing its pivotal role in future communication and industrial applications.
LEWES, Del., Nov. 14, 2024 /PRNewswire/ — The Global Millimeter Wave Technology Market Size is projected to grow at a CAGR of 9.5% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2.6 Billion in 2024 and is expected to reach USD 14.8 Billion by the end of the forecast period.
The global market for millimeter wave technology is on a trajectory of substantial growth, driven by the surge in demand for high-speed, data-intensive communication networks, particularly in 5G and beyond. Our report offers a complete view of the market landscape, covering key segments, competitive dynamics, emerging trends, and the opportunities that lie ahead.
Key Insights and Opportunities:
Market Trends: Analysis of current trends driving the adoption of millimeter wave technology, including its increasing integration in telecommunications, automotive radar systems, and industrial automation.Technology Landscape: In-depth examination of advancements in millimeter wave components such as antennas, transceivers, and sensors that are reshaping the industry.Competitive Analysis: Insightful profiling of leading companies and their market strategies, innovation roadmaps, and R&D investments.Regional Insights: Comprehensive coverage of market dynamics in North America, Europe, Asia-Pacific, and other regions, highlighting the growth potential in developing and mature markets.Future Outlook: Forecasting market size, potential challenges, and opportunities to help businesses navigate this rapidly evolving sector.
This report is a crucial resource for professionals involved in the fields of telecommunications, semiconductor manufacturing, defense, and IoT (Internet of Things), providing actionable intelligence to drive informed strategic decisions. Companies seeking to stay ahead of the curve will find detailed competitor benchmarking, key investment pockets, and insights into technology partnerships that can lead to competitive advantages.
Why Industry Leaders Should Consider This Report:
Gain a clear understanding of the market’s growth drivers and restraints.Uncover new revenue streams in the dynamic millimeter wave technology space.Benchmark your position against industry competitors and recognize areas for improvement.Make data-driven investment decisions backed by a reliable forecast and detailed market analysis.
Stay ahead of the curve in the ever-evolving Millimeter Wave Technology Market. For more information or to request a sample copy of the report, please visit: https://www.verifiedmarketresearch.com/download-sample?rid=3287
Browse in-depth TOC on “Global Millimeter Wave Technology Market Size“
202 – Pages
126 – Tables
37 – Figures
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
GROWTH RATE
CAGR of 9.5% from 2024 to 2031
BASE YEAR FOR VALUATION
2024
HISTORICAL PERIOD
2021-2023
FORECAST PERIOD
2024-2031
QUANTITATIVE UNITS
Value in USD Billion
REPORT COVERAGE
Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis
SEGMENTS COVERED
ComponentFrequency BandProductLicense TypeEnd-User
REGIONS COVERED
North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa
KEY PLAYERS
Qualcomm Technologies, Inc., NEC Corporation, L3 Technologies, Inc.,, Millimeter Wave Products Inc.,, Keysight Technologies
CUSTOMIZATION
Report customization along with purchase available upon request
Global Millimeter Wave Technology Market Overview
Rising Demand for High-Speed Data Transmission: The increase in mobile data traffic and the expansion of 5G networks are driving the Millimeter Wave Technology Market. Rapid data transfer is essential for facilitating next-generation communication. This transition facilitates uninterrupted streaming, IoT integration, and smart city development, increasing investment in millimeter wave technologies, improving network efficacy, and creating a profitable market for telecoms companies.
Advancements in Automotive and Autonomous Technologies: The automotive and autonomous vehicle industries are progressively integrating millimeter wave technologies to improve radar and communication systems. These technologies provide accurate object identification, collision prevention, and lane guidance. As the automotive sector advances towards autonomous driving solutions, millimeter wave technology becomes crucial, facilitating market growth. Manufacturers and suppliers in automotive electronics are anticipated to witness significant demand growth.
Growth in Military and Defense Applications: Military and defense sectors are heavily investing in advanced millimeter wave technology for secure and high-speed communication, radar systems, and surveillance. Its superior bandwidth and low interference make it ideal for defense communications. The focus on modernizing defense capabilities in developed and developing nations is expected to drive market growth. Defense contractors and technology developers will find abundant opportunities in this evolving sector.
To Purchase a Comprehensive Report Analysis: https://www.verifiedmarketresearch.com/select-licence?rid=3287
High Infrastructure and Equipment Costs: Notwithstanding its benefits, the substantial initial expenses associated with millimeter wave technology infrastructure hinder widespread implementation. The establishment of network infrastructure and specialized equipment requires substantial expenditure, constraining market entry in price-sensitive areas. Companies must evaluate the advantages relative to the significant investment, which may impede market expansion for cost-sensitive sectors such as telecommunications and manufacturing.
Signal Attenuation Challenges: Millimeter wave signals are prone to attenuation, particularly when encountering obstructions like buildings, trees, or inclement weather. This constraint affects the efficacy of the device in densely populated or difficult areas. Mitigating signal loss necessitates increased network densification and the installation of repeaters, hence complicating deployment and escalating expenses. Service providers must devise strategies to alleviate these constraints for sustained market expansion.
Limited Availability of Spectrum: The Millimeter Wave Technology Market is hindered by the restricted availability of spectrum, essential for 5G and high-frequency applications. Regulatory constraints and rivalry for spectrum allotment among companies may impede expansion initiatives. Telecommunications companies and allied sectors encounter challenges in obtaining adequate spectrum to sustain their services, which may affect the velocity and magnitude of future installations.
Geographical Dominance
North America occupies a preeminent position in the Millimeter Wave Technology Market, propelled by early 5G implementation, substantial R&D investment, and a flourishing technological ecosystem. The involvement of critical stakeholders and a robust defense sector further enhances progress. This regional supremacy propels technological advancements and establishes global benchmarks, stimulating demand for millimeter wave solutions internationally. North America’s leadership encourages investment in other regions, enhancing total market growth.
Key Players
The “Global Millimeter Wave Technology Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Qualcomm Technologies, Inc., NEC Corporation, L3 Technologies, Inc., Millimeter Wave Products Inc., Keysight Technologies.
Millimeter Wave Technology Market Segment Analysis
Based on the research, Verified Market Research has segmented the global Millimeter Wave Technology Market into Component, Frequency Band, Product, License Type, End-User and Geography.
Millimeter Wave Technology Market, by ComponentFrequency Sources & Related ComponentsCommunication & Networking ComponentsMillimeter Wave Technology Market, by Frequency Band24-57 GHz57-95 GH2Millimeter Wave Technology Market, by Vehicle TypeScanning SystemsRadar and Satellite Communication SystemsMillimeter Wave Technology Market, by License TypeLight LicensedUnlicensedMillimeter Wave Technology Market, by End UserCellular & TelecomConsumer & CommercialMillimeter Wave Technology Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin America
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Visualize Millimeter Wave Technology Market using Verified Market Intelligence -:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
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Verified Market Research® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. Celebrating 10+ years of service, VMR has been instrumental in providing founders and companies with precise, up-to-date research data.
With a team of 500+ Analysts and subject matter experts, VMR leverages internationally recognized research methodologies for data collection and analyses, covering over 15,000 high impact and niche markets. This robust team ensures data integrity and offers insights that are both informative and actionable, tailored to the strategic needs of businesses across various industries.
VMR’s domain expertise is recognized across 14 key industries, including Semiconductor & Electronics, Healthcare & Pharmaceuticals, Energy, Technology, Automobiles, Defense, Mining, Manufacturing, Retail, and Agriculture & Food. In-depth market analysis cover over 52 countries, with advanced data collection methods and sophisticated research techniques being utilized. This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries.
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Thermaltake Black Friday and Cyber Monday Sale Offers Savings of Up to 250 Dollars on Gaming PCs and 35 Percent on PC Cases Starting November 21
Agora Launches Smart Questionnaire to Simplify the Onboarding and Subscription Process For Real Estate Investors
Millimeter Wave Technology Market is expected to generate a revenue of USD 14.8 Billion by 2031, Globally, at 9.5% CAGR: Verified Market Research®
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Stop Overpaying for Commercial Energy! Here’s How Your Business Can Cut Costs Today