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Showing posts tagged with Banking & Finance
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David Krauss | 30 Sep 2009 | 0 comments

With So Much at Stake, Financial Institutions Bank on Resiliency to Thrive in Trying Times

Reputation damage – Everybody’s talking about data breaches. But what about resiliency?

Most financial institutions will agree that protecting their brand and building customer confidence is a top priority in today’s volatile economic climate. A big part of achieving this is keeping sensitive customer data safe and secure from both external and internal threats. After all, the last thing any bank wants right now is to be a headline for a public data breach that compromised thousands of their customers’ financial records.

While data loss prevention is and should be a top concern for financial institutions, an often overlooked component of maintaining customer confidence (and their deposits) is delivering the 24X7 availability and operational resiliency that customers demand of their financial institutions...

David Krauss | 18 May 2009 | 1 comment

In my last post which focused on outsourcing, I highlighted the cost savings that can result from financial institutions implementing proper outsourcing practices. Virtualization is another technology that allows financial institutions to save not only money, but precious IT hours while helping an institution become more agile and employees more productive.

Virtualization benefits include:

  • Reduced IT Costs - Server and endpoint virtualization offer financial institutions a streamlined, automated and cost-effective way to deploy and support both computing resources and users, while also meeting regulatory requirements for privacy and reporting.
  • Increased Security – Institutions face the challenge of managing several branch offices and remote employees scattered across the globe. Such a complex management environment is filled with insecurities and inefficiencies, but leaving security to users can be infinitely...
David Krauss | 13 Apr 2009 | 1 comment
As resources in the financial services industry continue to become even more strapped, institutions are turning to outsourcing as a way to reduce costs.
Sure, outsourcing sounds like a good plan, but how do you know you can trust your outsourcing partner? Often times, when entering into a third-party service contract, security is an afterthought. To ensure your institution is not the next to make headlines due to a data breach, I have included below a list of best practices to help you get ready to enter that third-party vendor agreement:
  1. Get your own house in order – review and revamp your own security strategy before locking down the vendor chain.
  2. Classify your data and apply the right controls – all data in an institution must be profiled and classified. Institutions will need to know and understand their data, as well as set classifications for more...