EU watchdog sets out software capital relief for banks

LONDON (Reuters) – The safety buffers of banks in the European Union would swell by billions of euros under proposed rules that allow lenders to include the value of software investments like cybersecurity in capital calculations.

Currently a bank must deduct the value of software from its capital buffer upfront, adding 36 basis points to its core ratio or mandatory measure of stability.

The European Banking Authority (EBA) said banks will be allowed to “amortise” or taper the value of software for capital purposes over three years.

That would boost capital by about 20.2 billion euros in 2020 across a sample of 64 banks, and by 20 billion euros in 2021, it said.

“The proposed approach is designed to be simple to implement and applicable to all institutions in a standardised manner, as is the case today with the deduction treatment,” the EBA said in a statement on Wednesday.

EU policymakers had already agreed to soften the rule to help banks keep lending to pandemic-hit businesses, and the European Commission is expected to rubberstamp the EBA’s proposals for introduction this year.

It marks a big win for banks who have long argued that current rules put them off updating cybersecurity systems and innovating in digital services for customers.

“The existing approach also distorts the global playing field, particularly when compared to the U.S., where banks can treat software investments as tangible assets that do not have to be deducted from a bank’s capital ratio,” the European Banking Federation said in a statement.

The EBA told EU lawmakers last year to avoid hasty changes, saying software was likely to be worthless when a bank goes bust as it could not be sold separately.

UK regulators have spoken against including the value of software investments in capital ratios, noting numerous high profile

Paycom Software, Inc. Announces Third Quarter 2020 Earnings Release Date and Conference Call

Paycom Software, Inc. (“Paycom”) (NYSE:PAYC), a leading provider of comprehensive, cloud-based human capital management software, will release its results for the third quarter ended September 30, 2020, after the market closes on Wednesday, November 4, 2020. Paycom will also hold a conference call to discuss results at 5:00 p.m. (Eastern time) that day.

 

 

 

 

Dial-in #:

1 (833) 233-4461

Intl. Dial-In #:

1 (647) 689-4140

Conference Name:

Paycom

Replay #:

1 (800) 585-8367

Intl. Replay #:

1 (416) 621-4642

Replay Access Code:

5744927

 

The conference call will also be webcast at investors.paycom.com. For those unable to participate, a replay will be available following the conclusion of the earnings call on November 4, 2020, through November 11, 2020. A web-based archive of the conference call will also be available at the above website.

About Paycom

As a leader in payroll and HR technology, Oklahoma City-based Paycom redefines the human capital management industry by allowing companies to effectively navigate a rapidly changing business environment. Its cloud-based software solution is based on a core system of record maintained in a single database for all human capital management functions, providing the functionality that businesses need to manage the complete employment lifecycle, from recruitment to retirement. Paycom has the ability to serve businesses of all sizes and in every industry. As one of the leading human capital management providers, Paycom serves clients in all 50 states from offices across the country.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201014005032/en/

Contacts

Investor Relations Contact:
James Samford
[email protected]

Source Article

PS4 System Software Update 8.00 Goes Live

Illustration for article titled PS4 System Software Update 8.00 Goes Live

Image: Sony

Sony’s latest PlayStation 4 software update is launching today, tweaking a host of existing features.

As the PlayStation Blog details, there will be updates to Party and Messages, bringing noticeable changes to the UI, streamlining them, and linking them more closely. Instead of having separate groups, both Party and Messages will now use the same groups for both voice chats and messaging.

In the Quick Menu, the update is also adding a rather self-explanatory Mute All Microphones feature, letting players, well, mute all mics while playing.

Sony is also adding new pre-set avatars, including ones from Bloodborne, Journey, Ghost of Tsushima, God of War, The Last of Us Part II, The Last of Us Remastered, Uncharted 4: A Thief’s End, and many more.

The Parental Controls are being simplified by folding Communicating With Other Players and Viewing Content Created By Other Players into a single Communication And User Generated Content setting. This should make it easier for parents to monitor their kids’ gaming interactions.

Besides the removal of the ability to create Events and updates to the Remote Play App, the update brings a welcomed enhanced 2-Step Verification, which will allow for third-party authenticator apps.

You can read more about the software update on the PlayStation Blog.

Source Article

Windows 10 will start blocking drivers if it can’t verify software publisher

With yesterday’s Patch Tuesday security update, Microsoft has flagged a change in the way Windows verifies driver software that could spur a rise in driver errors for Windows 10 users. 

Microsoft details the two driver-related error messages users of all supported versions of Windows 10 and Windows Server might see after installing the October Patch Tuesday security update. 

The errors will happen if Windows can’t verify the publisher of the driver software or if the driver lacks a signature. 

SEE: Windows 10 Start menu hacks (TechRepublic Premium)

“When installing a third-party driver, you might receive the error, “Windows can’t verify the publisher of this driver software”. You might also see the error, “No signature was present in the subject” when attempting to view the signature properties using Windows Explorer,” Microsoft explains under known issues with this update for Windows 10 version 2004. 

According to Microsoft, the error occurs when an improperly formatted catalog file is identified during validation by Windows when checking DER format encoded Public-Key Cryptography Standards (PKCS) #7 content. 

“Starting with this release, Windows will require the validity of DER encoded PKCS#7 content in catalog files. Catalogs files must be signed per section 11.6 of describing DER-encoding for SET OF members in X.690,” Microsoft notes. 

Microsoft lists the issue under known issues and resolved issues on the Windows 10 update health dashboard for each affected version of Windows 10. 

If Windows 10 users do see these driver error messages, Microsoft recommends users to contact the driver vendor or device manufacturer (OEM) and ask them for an updated driver to correct the issue.   

Microsoft has been working to shore up Windows 10 security against malicious drivers but these efforts have focused on its Secured-core PCs for business, such as the Surface Pro X.

SEE: Cheat sheet: Windows 10 PowerToys

Three Ways Software Development Companies Drive Digital Acceleration

As VP of Operations at BairesDev, Damián is responsible for the entire customer relations life-cycle, safeguarding the company’s operations.  

The concept of digital acceleration (clearly a child of digital transformation) has grown exponentially in the past couple of weeks. Nothing unexpected, considering the huge demand for technology solutions that the novel coronavirus pandemic generated on a worldwide scale. Nonetheless, as most businesses moved digital transformation to the top of their to-do list, many have stumbled upon the harsh reality of technology adoption: It takes crucial know-how to do it right. 

Working with software development companies has become one clear long-term solution for this dilemma. The industry knowledge, expertise and technology capabilities they bring to the table often just can’t be matched by in-house operations. And, what’s more, outsourcing IT services has proven to be a faster and more cost-effective way of developing high-quality products, even in industries as complex as healthcare. 

So, can software development companies be the answer to your digital acceleration process? Let’s answer that question by taking a look at three roles they play in this framework. 

1. Technology Discovery And Adoption

Digital transformation is a lot more than moving legacy processes into the digital realm. It requires a detailed analysis of the needs, context and opportunities of an organization and its people. Only then can you hope for some form of digital transformation. With acceleration in the mix, things are a little different. 

When time is of the essence, software development companies play a crucial role in technology discovery and adoption. Simply put, they show up knowing what’s working in the market right now and, based on your information, are able to determine whether that would work for you, too. 

In my experience, this happens a lot with artificial intelligence, cloud computing and data