Wednesday, 7 March 2018

Insecure data

Yes, it's a problem, apparently, for financial services organizations. 'Boss, why can't they keep their data secure?' I don't know, Voice. Laziness maybe. Or not enough skills. Claranet knows all about it though. 'Clara Net?! Who the hell is she?!' Ha! It's a firm, idiot!

Research reveals 69 per cent of businesses are lacking in terms of proper data management, casting doubt on their ability to comply with GDPR.

GDPR?! What's that?!

Keeping data secure remains a top priority for financial businesses, and as the General Data Protection Regulation (GDPR) comes into force on the 25th May 2018, there is an increased urgency to improve the way data is managed and secured. However, despite this impending deadline and the rapidly evolving threat landscape, new research from managed services provider Claranet has found that many companies are still not managing their data as well as they could.

Oh, okay. Now we know what GDPR is.

The research, which was conducted by Vanson Bourne who surveyed 750 IT decision-makers for Claranet's Beyond Digital Transformation research report, identified that security is an area that many are struggling with. Worryingly, 69 per cent of respondents stated that they were not able to secure customer data effectively, with almost half (45 per cent) encountering challenges around securing customer details when trying to improve the digital user experience for customers. This points to a distinct lack of capability when it comes to managing security in a reliable manner.

Who the hell is Vanson Bourne?! Never mind. / Okay. I bet Michel Robert has something to say about all this. 'Ha!' What, Voice? 'If you get him started, boss, he won't stop. He loves talking about data security, our Michel.' Well, okay. Let's give him a chance. I think I'll be able to control the situation, man.

Commenting on the findings, Michel Robert, Claranet's UK Managing Director, says: "There can be little doubt that data security is the most pressing issue facing financial businesses today and that sound security practices are the foundation on which these organizations are built, but our research confirms this is an area in which most financial institutions are failing. The GDPR is on our doorstep, but it is clear that many organizations have their work cut out if they are to comply with the regulation. Thinking more broadly, the fact that almost seven in ten organizations can't guarantee the security of their customer data is particularly concerning."

Yes, it certainly is concerning. Maybe something will be done about it. Thank you very much, Michel! / Right. Anything else, dear reader(s)? Music? My music? Well -

"Part of the problem derives from the fact that most internal IT teams don't have the skills, expertise or the time to keep up with the rapidly changing threat landscape as it's not their core area of focus. Our research has shown that organizations are very much aware of this problem, but also that they are still some way away from solving it."

Yes, thank you, Michel. We're talking about music now. I think my demo -

Michel continues: "This focus on heavier investment in security bodes well for the future, and the fact that businesses are aware of where they are deficient means that they have the right mindset in place."

Oh. Christ! / Is that it? 'He's gone, boss.' / Okay. As I was saying, dear reader(s) -

"However, it's important to recognize that much still needs be done in terms of increasing cybersecurity capabilities at a pace rapid enough to ensure GDPR readiness and overall preparedness. Businesses are aware of the challenges they face, but the current level of available expertise can hold back initiatives. By working with expert third parties, businesses can rapidly gain an extra layer of cybersecurity expertise, identify vulnerabilities and define priorities for improvement," ...

... he concludes - !!!


Okay. Uh. / 'Your music, Mikey?' I'm not in the mood for talking about it now, Voice. 'Oh, come on!' No. Michel has ruined everything, going on about data security like that. 'I warned you.' Yeah, yeah.

Later(s), crocodile(s)!