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Agile Financial Technologies Makes CIO’s Top 10 Solutions Providers

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Agile Financial Technologies, a leading software provider for insurance, banking and financial services sectors, announced that it has been ranked amongst the top 10 promising Banking, Financial Services and Insurance (BFSI) software solutions providers by CIO Review magazine.

Agile FT was selected for its excellence in delivering top-notch software solutions to BFSI companies, its innovative approach towards customers and its achievements over the last few years.

“We are happy to make it to the top 10 list of most promising BFSI software solutions providers, which is an honour and an achievement for us. Since our customers are in the financial services sector, which is heavily regulated, we need to ensure compliance and availability of all the statutory and regulatory reports that are desired by our customers. We also enable our channel partners by training them extensively on the implementation and support processes surrounding our software and equip them with the capability to cater to the ever changing regulatory requirements of those countries. This strategy has given us the agility to operate in, enter and penetrate new markets quickly,” said Kalpesh Desai, CEO, Agile FT.

Over the last few years, Agile FT has emerged as a leading provider of enterprise software to the banking, financial services and insurance sectors, with a growing customer community of leading banks, insurance companies, investment management firms and financial institutions across 20 countries. The company’s focus has been to continuously enhance the core functionality of their already strong product offerings in insurance, investment management and capital markets, lending and bancassurance. Agile FT has recently introduced mobile apps that would allow their customers’ insurance agents to automate their mobile field force and agents and provide a 360 degree sales and service capability.

“Agile Financial Technologies has been on our radar since their selection in 2013’s 10 Most Promising BFSI Software and Solution Providers and we are happy to showcase them this year due to their continuing excellence in delivering top-notch solutions to the BFSI Sector,” said Christo Jacob, managing editor, CIO Review.

“AgileFT’s solutions continued to break new ground within the past year benefiting its customers around the globe and we’re excited to have them featured as one of the Most Promising BFSI Solution providers.”

Agile FT’s solutions enable the revenue generating capabilities of their customers who are the largest banks, asset managers and insurance companies in the geographies they operate in.

The company’s products have also been ranked by various analyst firms, which is a validation of their strategic focus and execution. It has received many accolades, some of which include Star of Business award by SME Advisor Middle East in 2012, while Agilis Investment Management was recognized by “World Finance (UK) as the Best Asset Management Software in the M.E.” in 2011 and the company was ranked by Red Herring amongst the top 100 companies in Asia in 2012.


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Firm Reports a 48% Increase in Malicious Packages Threatening Software Supply Chains

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Kaspersky’s Global Research and Analysis Team (GReAT) experts at the 10th annual Cyber Security Weekend – META 2025 held recently, talked about supply chain attacks and reported that by the end of 2024 a total of 14,000 malicious packages were found in open-source projects, a 48% increase compared to the end of 2023. 42 million versions of open-source packages have been examined by Kaspersky throughout 2024 in search for vulnerabilities.

Open-source is software with source code that anyone can inspect, modify, and enhance. Popular open-source packages include GoMod, Maven, NuGet, npm, PyPI, and others.

These are tools that power countless applications and help developers easily find, install, and manage pre-built code libraries, making it simpler to build software by reusing code others have written. Attackers take advantage of the popularity of these and other packages.

In March 2025, the Lazarus Group was reported to have deployed several malicious npm packages, which were downloaded multiple times before removal. These packages contained malware to steal credentials, cryptocurrency wallet data, and deploy backdoors, targeting developers’ systems across Windows, macOS, and Linux.

The attack leveraged GitHub repositories for added legitimacy, highlighting the group’s sophisticated supply chain tactics. Kaspersky’s GReAT also found other npm packages related to this attack. Malicious npm packages could have been integrated into web development, cryptocurrency platforms, and enterprise software, risking widespread data theft and financial losses.

In 2024, a sophisticated backdoor was discovered in XZ Utils versions 5.6.0 and 5.6.1, a widely used compression library in Linux distributions. Inserted by a trusted contributor, the malicious code targeted SSH servers, enabling remote command execution and threatening countless systems globally.

Detected before widespread exploitation due to performance anomalies, the incident highlighted the dangers of supply chain attacks. XZ Utils is integral to operating systems, cloud servers, and IoT devices, making its compromise a threat to critical infrastructure and enterprise networks.

In 2024, Kaspersky’s GReAT discovered that attackers uploaded malicious Python packages like chatgpt-python and chatgpt-wrapper to PyPI, mimicking legitimate tools for interacting with ChatGPT APIs.

These packages, designed to steal credentials and deploy backdoors, capitalised on the popularity of AI development to trick developers into downloading them. These packages could have been used in AI development, chatbot integrations, and data analytics platforms, endangering sensitive AI workflows and user data.

“Open-source software is the backbone of many modern solutions, but its openness is being weaponised. The 50% rise in malicious packages by the end of 2024 shows attackers are actively embedding sophisticated backdoors and data stealers in popular packages, which millions rely on.

“Without rigorous vetting and real-time monitoring, a single compromised package can trigger a global breach. Organisations need to secure the supply chain before the next XZ Utils-level attack succeeds,” comments Dmitry Galov, Head of Research Center for Russia and CIS at Kaspersky’s Global Research and Analysis Team.


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NDPC Probes Suspected Data Breach in Examination Centres

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Nigeria Data Protection Commission (NDPC) has launched an investigation into allegations that the confidentiality and integrity of candidates’ personal data may have been compromised by hackers.

NDPC Probes Suspected Data Breach in Examination Centres

The Commission initiated the inquiry following concerns over possible data breaches during examinations.

Preliminary findings indicate that several examination centres may not have implemented adequate technical and organizational measures to safeguard candidates’ personal information, as required under data protection regulations.

Although the incident reportedly affected 379, 997 candidates, the NDPC’s investigation is poised to cover a systemic audit of data processing and third parties.

It will be recalled that JAMB recently admitted that a technical error on its platform affected a total of 379,997 candidates in 157 examination centres across Lagos and the South-East.

Further investigation led to the arrest of at least 20 suspects who are currently in the custody of the Department of State Services and the Nigerian Police Force.

 

 

 


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Nigeria Among Hotspots as Kaspersky Warns of Rising Ransomware Threat in Africa

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Cyber security firm, Kaspersky, has once again warned that sophisticated cybercriminals increasingly target Africa as ransomware and advanced persistent threats (APTs) escalate across the region.

Speaking at the company’s annual Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region, the cybersecurity firm’s Global Research and Analysis Team highlighted growing digital threats affecting African nations.

Kenya, Nigeria, and South Africa emerged as hotspots, with Kenya recording one of the highest web threat incident rates at 20.1% in first quarter 2025.

“While ransomware is less prevalent in Africa due to lower levels of digitisation and economic constraints, countries like South Africa and Nigeria are seeing a sharp rise in attacks,” said Sergey Lozhkin, head of META and APAC regions at Kaspersky.

Kaspersky noted a 0.01 percentage point increase in African ransomware cases year-on-year, reaching 0.41%, still below global and Middle Eastern averages, but a troubling sign for the continent’s emerging digital infrastructure.

Experts warned that attackers are refining their tactics, shifting focus to unconventional entry points like IoT devices, smart appliances, and misconfigured hardware.

“As these economies expand digitally, sectors such as manufacturing, finance and government are becoming key targets,” said Lozhkin

The cyber-crime landscape is evolving quickly, fuelled by AI tools and dark web access to large language models, which enable less skilled actors to launch convincing phishing and malware campaigns.

Groups like FunkSec, which uses AI-generated code and a low-cost ransom model, are redefining ransomware operations.

“African organisations face the dual challenge of expanding digital footprints and limited cybersecurity awareness. This makes layered defense strategies, including network segmentation, real-time monitoring and regular staff training, essential,” stated Lozhkin

Kaspersky continues to monitor 25 active APT groups in the META region, including SideWinder and MuddyWater, some of which are known to target African institutions.

To bolster defenses, the firm recommends using tools such as its free Anti-Ransomware Tool for Business and the Kaspersky Next suite for threat visibility and response.

 


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