Banking security issues
Security ranks as one of the most important concerns of ICT in the financial services sector, according to a new research report by BMT-TechKnowledge.
The research covers ICT in South African banks, insurance companies, investment companies and other financial services organisations.
The issue of security is one of the most important factors of ICT in the financial services sector according to Althea Bacchialoni, BMI-T’s financial services specialist.
There are two particular trends which are always of the most concern – identity and access management, and security regulatory compliance. On the latter factor, one often hears complaints along the lines of “when can we be true bankers and not providers and keepers of security regulation compliance?”
Adding to the complexity of this issue are two underlying elements; the intricacies of being compliant, and then how best to achieve these levels of compliance with minimal impact on the day to day running of the organisation.
Then there is the paradox of employees being encouraged to move towards a culture of productivity on the move – the mobile financial worker may have higher levels of productivity but this places the organisation at risk while communications are ongoing and bi-directional.
The current paranoia around security is exacerbated by the global economic climate; to use a local analogy, this has become a time for consumers and businesses to ‘laager in’ – to consolidate and protect personal or organisational assets both tangible and intangible.
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