tech

Featured, Security

The Top 2024 Cybersecurity Priorities for CISOs and Security Leaders Revealed in New Report by Info-Tech Research Group

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Info-Tech’s Security Priorities 2024 report delves into the pressing issues that IT and security leaders must prioritize over the coming year, including the cybersecurity talent shortage, the rise of AI-driven threats, the integration of security risks with business risks, the adoption of zero-trust frameworks, and the increasing significance of automating security operations. The global IT research and advisory firm explains in the report that by addressing these priorities, organizations can better prepare themselves to face the evolving threat landscape. TORONTO, Feb. 12, 2024 /PRNewswire/ – With cyber threats becoming increasingly sophisticated, organizations are facing unprecedented challenges in safeguarding their digital assets. Recognizing the urgent need for robust and dynamic security strategies, Info-Tech Research Group has published its Security Priorities 2024 report. The report underscores the critical need for organizations to adapt their security measures in response to the constant changes in cyber threats in 2024 and beyond. The firm’s research highlights the importance of a strategic approach, emphasizing the need for clear oversight and effective implementation strategies to develop, deploy, and monitor security initiatives that enhance an organization’s resilience against threats “The threat landscape has been exacerbated by the various emerging attack vectors, such as credential-compromise attacks and cloud exploitation. The increase in supply chain risks and rise in deepfakes also showcase the shift of threat actors to improve the sophistication of their attacks,” says Ahmad Jowhar, research analyst and lead author of the report. “The rising costs of ransomware and cyber insurance premiums coupled with the continuous talent shortage depicts the challenges of efficiently fighting against these threats.” The Security Priorities 2024 report reveals the pressing issues that IT and security leaders must prioritize and advocates for a pivot from traditional, reactive security postures to proactive, predictive security strategies. The annual report emphasizes the importance of fostering a security-centric culture across the organization, enhancing collaboration between security teams and other business units, and developing agile security frameworks that can adapt to new threats and business needs. “The emergence of advanced technologies has created opportunities for organizations and security leaders to explore unique approaches to these challenges while also enhancing existing capabilities to better equip themselves with the right people, process, and technology this year,” says Jowhar. “These approaches include assessing the ability to address the talent shortage through upskilling, establishing a foundation to implement AI technologies, and evaluating an organization’s security risk management with respect to integrating with the enterprise.” Info-Tech’s latest report is based on comprehensive research, including insights from the firm’s Future of IT survey and in-depth interviews with IT and security professionals across various industries and regions. The diverse approach ensured that the experiences of leaders from both small and large organizations were incorporated into the report and covered a broad spectrum of security budgets. The insights collected and analyzed by the firm reflect the realities of managing cybersecurity in different organizational contexts, from multinational corporations to nimble startups, providing a well-rounded view of the challenges and strategies at play in the current security landscape. Leveraging the firm’s research findings and data, the Security Priorities 2024 report outlines the following five high-priority initiatives security leaders and their organizations should implement to confidently address security risks for 2024 and the years to come: The 2024 report also includes customizable templates that security leaders can utilize to effectively communicate their organization’s key security priorities to stakeholders and executives, ensuring a clear understanding of the required security measures. In the face of ever-evolving cyber threats, the Security Priorities 2024 report provides security leaders with a blueprint for safeguarding their digital environment. By implementing the priorities based on their unique organizational goals and needs, security leaders can enhance their security posture, proactively address and mitigate vulnerabilities, and build a culture of resilience against the cyber threats of the future. Those interested in exploring the specific 2024 security priorities recommended by Info-Tech Research Group are invited to register for the firm’s webinar on Wednesday, February 28, at 1:00 PM ET / 10:00 AM PT. About Info-Tech Research Group Info-Tech Research Group is one of the world’s leading information technology research and advisory firms, proudly serving over 30,000 professionals. The company produces unbiased and highly relevant research to help CIOs and leaders make strategic, timely, and well-informed decisions. For more than 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations. Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com. For information about Info-Tech Research Group or to view the latest research, visit infotech.com and connect via LinkedIn and X.

AI, Fintech

Small businesses are underestimating their cyber risk despite increased threats

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TORONTO, Sept. 27, 2023 /CNW/ – Most small businesses don’t believe they will experience a cyber attack, yet many employees are concerned they are putting their organizations at risk, according to a recent poll by Insurance Bureau of Canada (IBC). IBC’s 2023 Cyber Security Survey found that more than 60% of small businesses believe their business is too small to be targeted by cyber criminals. This number rises to 73% for sole proprietors. The majority of business owners surveyed were not concerned about their staff posing a cyber risk, however, three out of four employees surveyed admit to having taken at least one action that poses a cyber security risk.The poll also showed growing employee concerns with cyber safety. For example: 25% of employees don’t feel they have the tools and training needed to identify potential cyber threats at work 22% of employees are concerned their actions could contribute to a cyber attack or data breach 10% of employees have shared confidential information with a publicly available chatbot or artificial intelligence (AI) platform. “While large companies are often common targets for cyber criminals, small and medium-sized businesses are also at a heightened risk,” said Liam McGuinty, Vice President of Strategy at IBC. “Both employers and staff play an important role in cyber security, and regular staff training is a critical component in reducing risk.” Despite nearly 40% of small business employees indicating that they had seen an increase in scam attempts over the last 12 months, employer responses showed that they may not be making enough investments in cyber protection: 69% do not consider cyber security a financial priority Only 20% have any intention of purchasing cyber insurance within the next year 17% don’t think they would qualify for cyber insurance. “All businesses, but especially those that rely heavily on an online presence and use e-commerce, should consider contacting their insurance representative to help find ways to manage their cyber risk,” added McGuinty. “However, cyber insurance is just one component of an overall cyber risk mitigation strategy – it is not a replacement for cyber resilience.” IBC’s new Cyber Savvy Assessment provides information for small business ownersAs part of Cyber Security Awareness Month, IBC is launching a self-assessment tool to help business owners understand the steps most cyber insurers want businesses to take to reduce their cyber risk. While this free tool cannot provide an assessment of a business’s actual risk profile, its questions can help business owners gauge their level of readiness for cyber insurance and help determine which areas they may need to focus on to bolster their cyber resilience. The Cyber Savvy Assessment is available until October 31 at cybersavvycanada.ca, along with resources and information about the proactive measures businesses can take to help reduce their cyber risk. About IBC’s Cyber Savvy ResearchBusinesses Findings are from a survey conducted by Insurance Bureau of Canada from August 3 to 9, 2023 among n=305 Canadian business owners and decision makers who work at companies with up to 500 employees. All respondents were members of the online Angus Reid Forum. Interviews were conducted in English and French. For comparison purposes only, a sample of this size would yield a margin of error of +/- 5.6 percentage points, 19 times out of 20. Employees Findings are from a survey conducted by Insurance Bureau of Canada from August 3 to 9, 2023 among n=1,506 employed Canadians aged 18+ who work at organizations with 2 to 499 employees and work primarily on a computer or other digital device. The sample was balanced on age, gender and region to the profile of the working Canadian population. All respondents were members of the online Angus Reid Forum. Interviews were conducted in English and French. For comparison purposes only, a sample of this size would yield a margin of error of +/-2.5 percentage points, 19 times out of 20. About Insurance Bureau of CanadaInsurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up the vast majority of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties. For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow us on X (Twitter) @InsuranceBureau or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC. SOURCE Insurance Bureau of Canad

Apps, Featured, Start ups

Best days to book and fly: Expedia releases the 2024 Air Travel Hacks Report

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TORONTO, Sept. 27, 2023 /CNW/ — Expedia’s 2024 Air Travel Hacks Report was released today, providing the latest essential tips to save travellers time and money on flights, and make air travel less stressful, from when to book, how to avoid cancellations and the best day to depart on your trip. The report comes at a time when travellers are beginning to plan their holiday getaways and are feeling overwhelmed in the process. According to a survey* of 1,000 Canadian flyers, Expedia found that 39% reported air travel to be stressful and more daunting than a flooded inbox or sleeping through an alarm. Almost half (43%) of air travellers find the process of securing a good flight deal especially stressful, and 17% even checked back on ticket prices after booking to see if they could have saved more. “In terms of stress levels, booking your next flight shouldn’t be in the same ballpark as getting a cavity filled,” said Melanie Fish, head of Expedia Group Brands public relations. “The good news is many of the things that contribute to travel stress are getting better, and Expedia is constantly releasing new tools like Price Tracking and Trip Planner, that make the whole booking and flying journey smoother.” “Airlines are adding capacity and increasing service to meet the sustained air travel demand we’ve seen throughout 2023,” said Chuck Thackston, managing director of data science and research at ARC. “Air travel has proven resilient over the past few years, with travellers increasingly taking to the skies for both business and leisure.” 2024 Air Travel Hacks Report WHEN TO BOOK Book airfare on a Sunday to save up to 24%.1 Travellers who book on Sundays instead of Fridays tend to save, on average, around 17% on domestic flights and 24% on international flights. Book domestic flights at least a month before to save 33%.2 Travellers that booked 25 days prior to departure saved 33% on average compared to those who waited until the last minute. For international airfare, avoid booking too early as prices are comparatively high 106 days out. However, prices also tend to increase 20 days prior to departure. For optimal availability, selection and savings, book 30-37 days out. WHEN TO TRAVEL Depart on a Thursday to save up to 13%.3 Avoid departing on Sundays, which are the priciest days, on average, to start a trip. Depart before 3 p.m. to reduce chance of cancellations.4 24% of Canadian air travellers try to avoid morning flights because getting up early on the day of travel gives them additional stress. However, year-to-date flight status data reveals flights that depart after 3 p.m. have an 18% higher chance, on average, of being cancelled than those that depart earlier in the day. MONEY-SAVING TOOLS Price Tracking: Take the guess work out of deciding when to book with the Price Tracking feature on the Expedia app, which notifies travellers when flight prices change, and uses exclusive data to pinpoint the best time to book. Bundling: With flights, car rentals, hotels and activities, Expedia offers a wide selection of customizable vacation packages in one place, allowing travellers to save hundreds of dollars on average when booking multiple items on Expedia. Whether booking items together in the same transaction or in steps, travellers also have their itinerary all in one place making it easier to keep track of their journey. 2024 AIR TRAVEL TRENDS The number of scheduled long haul flights is nearly at 2019 levels (<5% less versus 2019) and the number of scheduled short haul flights is at 74% compared to 2019, overall increasing. Average economy ticket prices have decreased by up to 3% compared to 2022.5 Toronto, Vancouver, and Calgary range among the most popular domestic destinations for Canadian flyers. The most popular international destinations are Las Vegas (USA), Cancun (Mexico) and New York City (USA). 6 The fastest growing destination, according to Expedia flight demand data, is Beijing in China.7 ABOUT THE DATA Expedia’s annual Air Travel Hacks Report is backed by an analysis of billions of data points and the most extensive air ticketing database in the world through collaboration with Airlines Reporting Corporation (ARC) and OAG, the world’s largest provider of flight information. Expedia has produced the Air Travel Hacks Report annually for more than a decade, making it the ultimate authority on air travel insights and data-driven travel tips. About ExpediaExpedia® is one of the world’s leading full-service travel brands, with a mission of helping travellers get the most out of every trip they take by providing everything they need all in one place, ensuring they are getting the most out of every trip they take, and above all else, feel supported every step of the way. Our commitment to insights matched with our unprecedented scale allows us to understand our travellers better than anyone else, delivering exactly what they need, when they need it. Our personalized experiences, backed by incredible technology enable us to deliver the widest selection of product offerings across accommodations, transportation, activities and experiences that help you get the most out of your journey. Use our mobile app or visit www.expedia.ca to plan your journey with us. © 2023 Expedia, Inc., an Expedia Group company.  All rights reserved.  Expedia and the Airplane logo are trademarks of Expedia, Inc. in the U.S. and/or other countries. All other trademarks are the property of their respective owners. CST# 2029030-50. Follow Expedia on Instagram, TikTok, Pinterest, Twitter and YouTube. About Airlines Reporting Corporation (ARC)ARC accelerates the growth of global air travel by delivering forward-looking travel data, flexible distribution services and other innovative industry solutions. We are a leading travel intelligence company that possesses the world’s largest, most comprehensive global airline ticket dataset, including more than 15 billion passenger flights representing 490 airlines and 230 countries and territories. Our solutions and expertise strengthen economies and enrich lives by connecting stakeholders across the travel ecosystem. For more information, visit www.arccorp.com. About OAGOAG is the leading data platform for the global travel industry, powering the growth and innovation of the air travel ecosystem since 1929. It has the world’s largest network of flight information, covering the whole journey from planning to customer experience. Customers include airlines, airports, travel technology players, aviation service providers, government agencies, financial institutions, and consultancies. Headquartered in

Featured, Fintech

Aware but unprepared: Canadians know fraud is on the rise, but don’t know what to do if their data is compromised

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RBC poll finds number of Canadians whose personal information was exposed is on the rise TORONTO, Sept. 26, 2023 /CNW/ – With new scams becoming more frequent and sophisticated, a majority of Canadians (88 per cent) report they’ve experienced an increase in attempts at fraudulent activity, and seven out of 10 (73 per cent) say they were knowingly targeted, according to a new survey from RBC. In addition, more than half (57 per cent) say they received notifications their personal information was exposed in a data breach, which is up considerably from 20 per cent in 2022. Yet, while Canadians’ awareness of scams is high, most (68 per cent) don’t know what actions to take if their personal data is compromised, leaving plenty of room for education and preparedness. “Cybercrime is continuously evolving as fraudsters polish their approach, whether online or through digital communications,” says Adam Evans, chief information security officer, RBC. “The poll reveals that while most Canadians have a healthy skepticism and high awareness of fraudulent activity, there’s still a lack of preparedness and knowledge around how to handle a data breach, which can lead to anything from loss of finances to identity theft.” Most common methods of fraud attempts The most common ways in which Canadians experience fraud attempts are via email (55 per cent) followed by phone calls (47 per cent) and text message (40 per cent). While nine out of ten (87 per cent) Canadians feel that they can tell the difference between legitimate and fraudulent communication, more than one third (36 per cent) report feeling helpless to protect themselves from all the fraudulent calls and emails they receive. Younger Canadians (18 to 34 years old) are more likely to feel helpless (41 per cent) compared to other age groups. Interestingly, this younger generation is simultaneously less likely to be concerned about cyber security threats than their older counterparts. Top concerns Overall, Canadians worry most about unauthorized access to their online accounts and/or personal information (82 per cent) followed closely by having their email or social media accounts hacked (78 per cent). Three quarters (76 per cent) of Canadians are concerned about identity theft and being the victim of a corporate data breach (73 per cent) or being the victim of an online scam (72 per cent). AGE Concerns about fraudulent activity Total 18-34 35-54 55+ Unauthorized access to online accounts/personalinformation (i.e. hijacking accounts) 82 % 77 % 85 % 84 % Having your email or social media accounts hacked 78 % 72 % 81 % 81 % Identity theft 76 % 67 % 80 % 79 % Being the victim of a corporate data breach 73 % 66 % 76 % 75 % Being the victim of online fraud/scam 72 % 68 % 74 % 72 % How Canadians deal with suspicious communications When it comes to the most common actions taken as a result of receiving suspicious calls, emails, or messages, two thirds of Canadians say they simply delete it (66 per cent) and block the number or email (64 per cent). Fewer than half either ignored it or reported it (44 per cent, respectively). Meanwhile, they use several techniques to determine the legitimacy of these suspicious calls, texts, or emails, including: 78% never open unexpected attachments whenever they receive them 76% always trust their instincts; if it feels wrong, it likely is 70% always pause to think before replying 68% always check communications they receive for bad grammar, spelling mistakes, and unusual language 48% say they always report suspicious emails as spam in their inbox In contrast to younger generations, older Canadians 55+ are more likely to employ counter measures like never opening unexpected attachments (85 per cent), always pausing before replying (81 per cent) and always checking the message for grammatical and spelling mistakes (73 per cent). RBC has articles, tips and guides for Canadians on its Be Cyber Aware website, including: Change the account’s password to lock out the hacker Notify your contacts that your account was hacked. Let them know they may receive spam messages that look like you sent them Make sure your security software is up to date. Scan your system for malware, especially if you suspect your computer might be infected with a virus Disable any remote access permissions on your computer Report your breach to your local enforcement authorities and financial institution About the RBC Study These are the findings of an Ipsos poll conducted on behalf of RBC. The survey was conducted in English and French. A sample of 1,500 Canadians over 18 was surveyed online via the Ipsos I-Say panel from August 14 to August 17, 2023. ABOUT RBC Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact. SOURCE RBC

Featured, IOT

Rakuten.ca: Canadians to use 5 cost-saving measures this holiday season

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Canadians are stacking more money-saving tactics this year to offset holiday spending TORONTO, Sept. 25, 2023 /CNW/ – Canadians have adjusted their money-saving and gift-giving tactics, including a reduction of grand gift exchanges for smaller variations, according to Rakuten.ca’s Holiday Spending Survey in partnership with Ignite Labs. With the average anticipated spend on holiday gifts estimated to be $570, down from $600 in 2022, Canadians are looking to reduce their holiday spending amid rising costs seen throughout the year. Parents will likely be spending the most this year than any other demographic surveyed, estimating an average spend of $745 for this holiday season. The survey found that Canadians plan to use an average of five cost-saving strategies, up from three in 2022.  Cost saving measures include: 75 per cent actively looking for sales/offers, 61 per cent planning to use loyalty programs like Rakuten.ca to earn cash back, 35 per cent planning activities instead of gifts and 56 per cent shopping earlier to spread out the expenses. 33 per cent are planning to drop some recipients from their typical lists, including friends, coworkers and neighbours. “Offsetting the financial strain of one of the highest shopping periods of the year is often a priority for many Canadians and we’re seeing increasing numbers of consumers looking at ways they can save, whether it be shopping sales or stacking deals,” says Jennifer LaForge, General Manager at Rakuten.ca. “We’ve been seeing a lot more conscious consumers, especially those looking for everyday savings to balance the high-spend holiday season with the rest of the year.” Savvy shoppers are consistently looking for new ways to save in times of increasing prices and are frequent users of money-saving tactics, cash back and loyalty programs as well as shopping sales throughout the gift giving season. Loyalty Programs & Cash Back As Canadians ramp up their money saving tactics, loyalty programs offering cash back will be increasingly utilized, with 65 per cent of respondents saying they prefer cash back versus the 35 per cent who prefer points systems. For holiday spending, 61 per cent said they would partake in the use of loyalty programs to earn cash back on their festive purchases. Shopping Timing Shopping at high sales times is a common tactic for Canadians, including the 63 per cent of those planning to shop Black Friday, 50 per cent planning to shop on Cyber Monday, and 46 per cent planning to shop on Boxing Day. 63 per cent of survey respondents also noted that they’ll be taking advantage of these sales to shop for themselves as well as others. Shift in Gift Giving Tactics When thinking of what they would like to receive themselves as holiday gifts this year, many Canadians say they would like to receive practical items that they actually need (63 per cent), followed by gift cards (53 per cent), experiences (28 per cent) and lastly luxury items (26 per cent). Thoughtful and responsible spending is top priority as Canadians are looking for ways to stretch their dollars further. In addition, to help manage holiday expenses, 76 per cent of Canadians plan to set an approximate budget for their shopping. About the survey The Rakuten Canada survey was conducted online by Ignite Lab, a Toronto-based survey consultancy specializing in retail, travel and technology segments, in August 2023 with a nationally representative sample of 1,000 Canadians. A sample of this size is accurate to within +/-3 percentage points, 19 times out of 20. References to previous Holiday research are from surveys conducted in 2022 & 2020 (approx. 6-months into Covid). About Rakuten.ca For over 10 years, Rakuten.ca is a leading shopping rewards program that offers Cash Back, deals and rewards from all your favorite brands. By partnering with over 750 brands in apparel, health and beauty, travel, on-demand services, subscription boxes and more, Rakuten helps Canadians get more from the things they buy. Since launching in 2012, Rakuten has become the largest and most rewarding shopping experience, and its 7 million members have earned $140 million in Cash Back just for shopping through Rakuten. For more information, visit Rakuten.ca.

Featured, IOT

Info-Tech Research: The Digital Transformation of Wealth Management

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In the firm’s latest research-backed industry trends report, Info-Tech Research Group reveals that future success in the wealth management industry hinges on launching digital products and services tailored for younger, digitally proficient customers. TORONTO, Sept. 22, 2023 /PRNewswire/ – With a variety of industries facing the necessity of digital transformation, the wealth management industry is undergoing a particularly significant transformation. As control of assets shifts from older customers to their often more tech-savvy children, the industry’s traditional products and services are increasingly considered outdated. As a result, Info-Tech Research Group advises that wealth management firms must pivot to meet these changing demands. Info-Tech has published The Future of Wealth Management, a trends report providing insight into current customer expectations and outlining pathways businesses can take to implement digital transformation to stay competitive in the evolving landscape. Info-Tech Research Group’s blueprint “The Future of Wealth Management” highlights a strategic, multidimensional approach consisting of 12 transformation elements that will enable wealth management firms to understand the trends driving their industry and to maintain competitiveness. (CNW Group/Info-Tech Research Group) In the report, Info-Tech explains that the wealth management industry has traditionally relied on a combination of outsourced service providers and bespoke internal systems. However, these systems were not initially designed to provide the depth of integration necessary for modern digital products and services. “The wealth management industry has serviced its customers with traditional products and services that were largely segmented by the amount of assets in the account, and that often had a single decision maker,” explains David Tomljenovic, principal research director at Info-Tech Research Group. “Engagement was heavily focused on in-person calls or meetings. Client assets were invested according to model portfolios based on customer assets, intake forms, and ‘know your client’ information. However, younger customers expect robust digital or mobile tools that deliver highly optimized processes, products, and customer experiences.” Currently in the industry, IT’s role is typically focused on support rather than on functioning as a strategic business partner. Therefore, there is a pressing need for IT to evolve its approach and foster a relationship that aligns more closely with the overarching, long-term business objectives of wealth management firms. “One common point between both the traditional customer generation and the younger generation taking over is the desire for in-person engagement,” explains Tomljenovic. “While the investing process is becoming increasingly digital, personal contact is still an essential part of the wealth management process.” The report underscores the importance of adopting a multidimensional strategy when tackling the technological hurdles in the wealth management sector, pointing out that the profound changes required in wealth management permeate numerous aspects of IT. The complexities of the technological challenges in the industry are further amplified by the rapidly evolving market dynamics, necessitating substantial shifts throughout the organization from front-end to back-end operations. Consequently, implementing a successful, comprehensive technology transformation becomes more daunting as it involves multiple elements simultaneously. Info-Tech advises that these transformational areas can be broadly categorized into three main dimensions, each comprising four components: Organizational Dimension: Collectively, these components govern how IT organizes itself and aligns with business needs to drive deep and effective delivery. This dimension is comprised of innovation, enterprise architecture (EA), agile, and DevOps methodologies. Experience Dimension: The key capabilities that are required to drive the extensive user experience transformation that wealth management customers are demanding. The experience dimension includes data, artificial intelligence (AI) and machine learning (ML), automation, and security. Infrastructure Dimension: Organizations need to master these capabilities to support current customer demands to effectively deliver open, integration-friendly, and ecosystem-based customer solutions. Infrastructure is an essential part of the transformation process. The key components are ecosystem, cloud, integration, and digital. The firm also highlights in the report that the generational wealth transfer presents a significant opportunity for wealth management firms that can adeptly navigate this transition. Timing the rollout of new digital products and services to cater to the needs of younger, digitally savvy customers will be instrumental in driving success in a new era. To learn more about the firm’s findings and the recommendations for how IT can help wealth management firms stay current in the digital era, download the complete The Future of Wealth Management trends report. For media inquiries on the topic or to get exclusive, timely commentary from David Tomljenovic, an expert in the financial services sector, please contact pr@infotech.com. About Info-Tech Research Group Info-Tech Research Group is one of the world’s leading information technology research and advisory firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations. Media professionals can register for unrestricted access to research across IT, HR, and software and over 200 IT and industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com. For more information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and Twitter. SOURCE Info-Tech Research Group

Featured, Start ups

Secoda Raises $14M to Save Companies from Drowning in Data

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TORONTO, Sept. 21, 2023 /CNW/ – Secoda, the only AI-powered modern data management platform, today announced a $14 million USD Series A funding round led by Craft Ventures, who led the company’s seed round in 2021. Also participating in the round were Abstract Ventures, existing investors YCombinator and Garage Capital, and leaders in the data space including Jordan Tigani (CEO of MotherDuck), Scott Breitenother (CEO of Brooklyn Data Co.), and Tristan Handy (CEO of dbt). The new round brings the company’s total funds raised to $16 million USD. A group photo of the Secoda team in Toronto, Canada. (CNW Group/Secoda) The investment will fuel further development of Secoda’s generative AI solutions to allow any employee to easily search, understand, and use company data, regardless of their technical ability or familiarity with the data. Secoda already integrates with the most popular data platforms such as Snowflake, dbt, and Looker, with new integrations being released consistently. Over the last year, Secoda’s customer count has grown by 5x, and the company manages over 100 million metadata resources (tables, dashboards, columns, queries, and more) for customers around the globe. Company data is a disjointed puzzle at most organizations. Data teams often have large tech stacks, full of applications that are unable to communicate with each other, and years of legacy knowledge that is not documented. Secoda enables data teams to take control of their data sprawl and reliably scale their infrastructure, while managing a complex data ecosystem. Issues data teams commonly face, such as lack of observability, governance, and lengthy setup and integration periods, are mitigated when companies leverage Secoda. “The explosion of data platforms over the past few years has led to a proliferation of data sources and assets. It has become increasingly important that companies not only have a full understanding of the lineage of their data from disparate sources but also harness their data to make more efficient and informed decisions,” said Jeff Fluhr, co-founder and partner at Craft Ventures. “Secoda has built a powerful AI-powered data copilot for companies to do just that. The company’s rapid growth is a testament to the strength of the team and their deep appreciation of their users’ needs.” Secoda’s AI Assistant combines the power of ChatGPT with the context of a company’s data and metadata. Data teams can leverage the AI Assistant to dramatically reduce mundane work by writing intelligent documentation in seconds, answering questions from any user about a company’s data and metadata, and automatically recognizing and tagging personal identifiable information. “We are intensely focused on addressing the foundational challenges of search in data, and generative AI is enabling us to move even faster than we expected,” said Etai Mizrahi, co-founder and CEO of Secoda. “Secoda is leveraging AI to help data teams manage complex data stacks while saving a substantial amount of time and resources. Our customers have been able to automate up to 40% of their most common data requests, cut down onboarding time for analysts by 50%, and reduce time spent on documentation by 90%. We plan on continuing to expand the functionality of Secoda AI and supercharge the efficiency of data teams.” Data teams at companies including Panasonic, Clover, Cardinal Health, Kaufland, and Vanta, use Secoda to automate data discovery, documentation, and take the grunt work out of their day. When Kaufland e-commerce experienced triple digit growth in active data users, they needed a system to make data discoverable in order for it to be used efficiently. Richard Hondrich, Head of Data and Analytics at Kaufland shared how the team used Secoda to automate data governance across over 15,000 tables: “The issue with most data catalogs is their limited functionality and inability to fit nicely within workflows. It’s a chicken and egg problem – if the data is not kept up-to-date, then the ecosystem will not be used. Secoda allows us to incorporate data governance into our existing processes without getting in the way.” To learn more about how Secoda can bridge the gap between data teams and the rest of the company, sign up for a demo of Secoda at [www.secoda.com]. SOURCE Secoda

Featured, IOT, Security

Interac: Canadian entrepreneurs are embracing the nine-to-thrive

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Business use of Interac e-Transfer climbs 25 per cent year over year as Canadians seek to turn their passion into profit TORONTO, Sept. 21, 2023 /CNW/ – As more Canadians take on side hustles to earn additional income, a recent survey from Interac Corp. reveals a ‘nine-to-thrive’ effect taking place. While the initial motivation to launch a side hustle is often financial, more than half (55 per cent) of those surveyed say that it turned out to be more fulfilling than expected, with three quarters (76 per cent) intending to continue their side hustle alongside their main job, and almost two in 10 (17 per cent) planning to go all in, turning their passion project into their career. The satisfaction entrepreneurs experience in their side hustles is linked to the achievement of key milestones. The Interac survey shows that some take pride in that memorable first sale (22 per cent), while for others it’s achieving their first profit (25 per cent) or paying a salary for the first time (23 per cent). Interac e-Transfer® plays an important role in supporting these milestones – nearly two thirds of these entrepreneurs polled (62 per cent) use the service for business-related payments, contributing to 25 per cent transaction volume growth year over year. “Entrepreneurs have long been, and will continue to be, a driving force of Canada’s economy, yet we are hearing that almost half of those polled say they have had challenges accessing financial tools, tracking finances, and generally finding the advice or information they need to start or grow their business,” said William Keliehor, Chief Commercial Officer, Interac Corp. “We launched the Interac ‘From Dollar One’ hub to help bridge this gap and provide the resources entrepreneurs are asking for from their first dollar and beyond.” The Interac survey extends beyond those with a side hustle to also include freelancers and small business owners with up to four employees. Key findings about these groups of entrepreneurs include: Startup surge: Nearly half of Canadian entrepreneurs (46 per cent) said an increasing number of people in their personal networks have started a side hustle in the past year, and four in 10 (40 per cent) are currently considering at least one other idea for a new venture. The means to succeed: New business owners feel they lack the financial confidence and knowledge necessary to successfully grow their business when first starting out. Only 15 per cent of Canadian entrepreneurs had high confidence in their abilities to manage their business finances from day one. Nearly half of entrepreneurs (49 per cent) had challenges in finding the right information or advice for growing their business, lacked financial confidence or access to financial tools, and had trouble tracking finances. “As more Canadians transform their passion into a small business either full time or alongside their day-to-day jobs, Interac e-Transfer has grown rapidly in lock step,” said Anurag Kar, AVP, Money Movement Products, Interac. “Since many entrepreneurs already have the confidence of using the service as a consumer, they have quickly recognized it as an easy, efficient way to pay and be paid. Interac e-Transfer has been a payment option that eases the pain points that they face.” The Interac From Dollar One hub includes tips on building financial confidence and how to avoid burnout alongside practical instructions on the role Interac products, like Interac e-Transfer, can play in meeting a business’ key milestones. Advice offered to business owners within the hub includes: Pay and get paid—fast: Whenever possible, streamline and simplify the payments process. Set up Interac e-Transfer Autodeposit, so when you get paid, funds are deposited quickly and securely into your account. Maximize your payment methods: Over a third of entrepreneurs (35 per cent) said being able to accept and use Interac e-Transfer helped boost their financial confidence in managing a growing business. Additionally, half of businesses polled that use Interac® Debit (52 per cent) said they prefer it as a payment method for their business because it is a convenient way to pay. Not far behind that, two in five (43 per cent) cited safety and security as a key reason for preferring Interac Debit to make business related payments. Stay in charge of your small business: Pay attention to agreements and payment terms to avoid late penalties that could hurt your bottom line. Tracking payments and using your own money with Interac Debit or Interac e-Transfer can help avoid surprises at the end of the month, from extra fees or forgotten purchases. For more key tips and advice, visit the From Dollar One Hub at interac.ca/dollarone About the Interac survey The Interac survey was conducted among 500 Canadians entrepreneurs, a sample comprised of 362 side hustlers (i.e., do work outside of their primary employment), 82 small business owners (with 0 to 4 employees), and 56 freelancers. The survey was fielded by CICIC Research from August 9th to 16th, 2023.  The length of the survey was 10 minutes. The final sample was a result from natural fallout of a general population sample of Canadian adults weighted on age, gender, and region according to 2021 census figures. An associated margin of error for a randomly selected sample of n=502 would be ±3.8%, 19 times out of 20. About Interac Corp. Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money and data in Canada, security is the core of everything we do. We help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to our network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture, community, and corporate citizenship. We are proud to be one of Canada’s leading and most trusted financial brands. For more information, visit our website. Interac is a registered trademark of Interac Corp. SOURCE Interac Corp.

Apps, Featured, Start ups

Homebase Bets Big on Canadian Tech Talent

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Leading hourly team management app invests in Canadian tech talent, doubling its local workforce (+104%) in the past year against a backdrop of volatility in the technology landscape. Company adds Canadian leaders to its Executive Office, including Chief Marketing Officer, Candy Lee, and Chief Technology Officer, Oliver Fisher, who together bring strategic expertise from Shopify, HelloFresh Canada and FreshBooks. Further strengthening product development capabilities, Homebase also welcomes VPs of Engineering Andrea Corey and Alamelu Radhakrishnan, bringing product development expertise from Freshbooks, Loblaw Digital and Shopify. Homebase also opened its first-ever Canadian outpost this month, with an 8,000 sq. ft. office located in downtown Toronto. TORONTO, Sept. 14, 2023 /PRNewswire/ — Homebase, the all-in-one team management app that helps more than 100,000 local small businesses manage their hourly teams, makes big waves by investing in the Canadian technology industry. In the past year, the company has more than doubled its full-time workforce in Canada (+104%) and opened its first-ever office in downtown Toronto. Homebase has also supercharged its Executive Office with new, seasoned Canadian leadership, including Chief Marketing Officer, Candy Lee, and Chief Technology Officer, Oliver Fisher. Having held previous leadership roles at Shopify, HelloFresh Canada and Freshbooks, both Lee and Fisher bring deep expertise and strategic insight into growing and scaling big brand SaaS companies that serve small businesses and consumers. This investment is a strong signal of Homebase’s commitment to growth against the backdrop of an otherwise volatile technology sector. Beyond the Canadian team, the company has also grown headcount in the past year in the U.S. and beyond. Toronto is the newest Homebase office, joining other locations in San Francisco, Houston and Denver. “With our new leadership, Homebase is set firmly on a path to scale our business to new heights, and supercharge our product to help small business teams work better than ever. Our people make Homebase what it is and our growing Canadian team is critical to unlocking our potential to provide an unbeatable experience for local businesses,” said Homebase Founder & CEO, John Waldmann. Prior to joining Homebase, at HelloFresh Lee helped scale the subscription business multiple times over, nearly doubling revenue in her first year while securing a hard-fought market leadership position ahead of long-time competitors. Lee is committed to helping accelerate the trajectory of Homebase to empower the +100k small businesses on the app to make work easier. “Main Street businesses have traditionally been ignored by technology providers, so I’m thrilled to work with the team to rewrite the script and put great tech in the hands of unstoppable local businesses,” said Candy Lee, Homebase CMO. Furthermore, Fisher led international expansion efforts at Freshbooks and also helped grow Google’s Safebrowsing team in Montreal. As Director of Engineering at Shopify, Fisher also helped launch Shopify Capital to provide seamless liquidity to merchants based on their existing sales, impressively growing the business rapidly in about one year. “I’m incredibly excited to shape a lasting company that’s making an impact by driving small business growth,” said Oliver Fisher, Homebase CTO. “I’m focused on building a world-class engineering team that will enable us to develop features that serve customers faster and more efficiently. Establishing engineering talent in Canada is a key part of that strategy,” said Fisher. As growth and innovation remain core to Homebase’s mission, the company also welcomes two additional expert leaders with deep product development experience. Andrea Corey, with more than two decades of experience designing systems to scale at startups, including Freshbooks and Eloqua joins as VP of Engineering, Platform Engineering. Additionally, Alamelu Radhakrishnan, former Chief of Staff to Shopify CTO, rounds out the new leadership as VP of Engineering, Product Delivery. About Homebase:Great businesses are built on great teams. Great teams run on Homebase. Homebase makes work easier for 100,000+ small (but mighty) businesses with everything they need to build unstoppable hourly teams: employee scheduling, time clocks, payroll, team communication, hiring, onboarding, and compliance. Just don’t call us “Human Capital Management.” We’re an all-in-one team management app built for busiest businesses, so owners and employees can spend less time on bullsh*t and more time on what matters.To learn more, visit joinhomebase.com

AI, Featured, Security

K-12 Teachers Say Classroom Models Need to Evolve to Prepare Canadian Students for the Future

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Only half of teachers surveyed in Canada say students are taught in ways that are relevant to the skills they need for the future, according to new survey from Microsoft TORONTO, Sept. 13, 2023 /CNW/ – As a new school year begins for millions of Canadian students, teachers across the country say it’s time to embrace new teaching models to better align with the realities, opportunities and challenges of today’s classroom and tomorrow’s workplace. In a new survey from Microsoft of over 500 Canadian teachers and school leaders, most said schools need to do more to adapt to the evolving needs of students. Teachers are calling for changes that make classrooms more engaging, inclusive and relevant for a new digital era. New models for a new era of digital innovation Teachers across the country say it’s time to embrace new teaching models. (CNW Group/Microsoft Canada Inc.) From AI to interconnected smart devices, teachers recognize that the rapid pace of technological innovation is changing the workforce students will be joining, but few classrooms are teaching the skills students need to succeed in the new digital world. In fact, ninety percent of teachers surveyed agree it’s important to teach students the digital skills they’ll need for modern life, but only half of teachers (52 percent) say students are taught in ways that are relevant to the skills they need for the future. Strikingly, the survey revealed an overwhelming majority of teachers (79 percent) felt data literacy and digital citizenship were essential skills for today’s students, but these topics were only taught in 22 and 53 percent of classrooms respectively. While teachers have just begun to consider the implications of AI in education, 41 percent of teachers believe that students should learn about generative AI to better equip them for life outside school and in their careers. That number rose to 50 percent among teachers of grades 7-12. “It’s crucial that we listen to teachers so we can better empower students in their learning and be prepared to contribute to Canada’s economic future” said Elka Walsh, Associate Vice President, Learning & Teaching, at Microsoft Canada. “We have a responsibility to address these gaps, reignite a love of learning, and help students thrive in a digital world.” Digital tools more prevalent since the pandemic, but not used effectively For many teachers, the pandemic spurred the adoption of digitally enhanced learning in the classroom. Eighty-two percent of teachers surveyed said their school’s use of digital tools started or increased with the pandemic. But only 35 percent of respondents said most teachers are equipped with the best digital tools to help them teach and a similar number (34 percent) said teachers receive the training needed to use these tools effectively. Six out of ten respondents said teaching methods should change to make the most of these tools. Among the most promising use cases for teachers, according to the survey, was time management. Eighty percent of teachers agree they need more tools to help them manage their time more productively – an unsurprising stat given that 86 percent of teachers rate their workload as high or very high. The results also indicated a clear difference in approach to technology in the classroom between those schools with an established sustainable digital strategy and those without. When asked if students were more engaged when digital tools are used in the classroom, three quarters of respondents with a digital strategy agreed. Among teachers in schools without a digital strategy, fewer than half agreed technology helped to increase engagement. Engagement and inclusion need a boost It is apparent that teachers are struggling to keep students engaged, particularly when faced with the emotional and wellbeing challenges related to the pandemic. Only half of teachers surveyed (51 percent) said students are taught in ways that engage them and keep their interest and only a third (35 percent) agree schools are succeeding in helping to address students mental and emotional wellbeing. Today’s teachers know inclusion and accessibility is crucial to help every student reach their potential. Ninety-five percent said inclusive and accessible teaching resources are somewhat or very important. But only 48 percent say current teaching methods are inclusive and only 46 percent feel students are taught in ways that are responsive to their individual needs. Teachers also want schools to do more to address the mental and emotional wellbeing of students (74 percent) and feel students are still emotionally challenged by the disruption of the pandemic (72 percent). “Canada’s teachers are telling us we need revitalized learning models so their students don’t get left behind” said Marc Seaman, Vice President, Education Segment for Microsoft Canada. “New models are critical to improve outcomes for all students and prepare them for the digital future.” Building on decades of work with policy makers, school leaders and educators around the world, Microsoft is committed to teacher and student success. Microsoft is innovating to deliver tools and resources to educators that are responsive to student and teacher needs, supporting inclusive and accessible learning environments. Through programs like Showcase Schools, Microsoft collaborates with schools in Canada and worldwide to demonstrate what’s possible to transform learning and deliver sustained results for students. Microsoft also offers free curated learning to help instructors adopt new digital tools and design inclusive learning. Visit Microsoft.com/education for more information. About the FUSE Insights SurveyThese results are taken from a survey of 503 teachers from across Canada. The survey was delivered online, in English and French, between 1st and 8th June 2023; and covered a cross section of teachers by geography – 39 percent are in Ontario and 29 percent in Quebec, 12 percent are in BC, 15 percent in the Prairies and 8 percent in the Atlantic provinces – and grade. Of the 503 teachers who completed the survey, 493 (95 percent) teach students themselves, and the respondents also included 20 school administrators, principals and vice-principals. 88 percent of respondents to the survey work at public schools and the remainder in private schools; a little over a third (37 percent) of teachers who completed the survey teach Kindergarten to grade 3, a quarter (26

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