Fintech For 45 Of 50 Top Banks Confirms Data Breach

Finastra, a global leader in financial technology that serves 45 of the world’s top 50 banks, has confirmed a major data breach impacting its internal file transfer system SFTP. The London-based firm, which facilitates vital banking and wire transfers for over 8,100 financial institutions worldwide, detected the breach on Nov. 7. 

The breach targeted Finastra’s internally hosted Secure File Transfer Platform, or SFTP, which was exploited using stolen credentials—essentially, a username and password.