Recognising users needs and securing them

Here is a sampling of some of the findings from the Financial Services IT infographic:

Users Will Find and Employ Workarounds If Their Needs Are Not Being Met

▪  94% of financial services IT professionals surveyed are not fully confident in the ability of their employees, consultants and partners to adequately safeguard data.

▪  59% of financial services IT professionals surveyed feel their employees must work around corporate IT policies to get their jobs done.

Security Concerns Having an Impact on Deployment of Apps

▪  80% are limiting in some way the deployment of applications as a direct result of security.

Insecure File Sharing is of Particular Concern

Using freely available file sharing repositories is of critical concern. As these repositories do not secure the file, once the file leaves the organization it is untraceable and can be shared with anyone, in any location. This is particularly notable for GDPR as untracked files shared outside of organizational control can lead to customer information being exposed. 

Most financial services institutions report they have experienced a breach due to gaps in securing and sharing business files. Consequences identified by IT professionals include:

▪  74% Lost productivity  

▪  70% Penalties for compliance failure   

▪  31% Exposing sensitive data to the competition

Close to 50% do not have an IoT strategy in place  

With increased connectivity comes increased productivity and increased risk. Today, networks are vast – with varied access points like ATM terminals, apps, kiosks, tablets, websites and traditional terminals.  As threats to data become increasingly sophisticated, leaders in the financial services industry must have an IoT strategy in place that balances security and regulatory requirements with productivity.