IBM has formed a Data Governance Council with dozens of leading financial companies and other suppliers to develop a “blueprint” to protect personal data.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
The new body comes at a time when major companies in the US are coming under pressure over data security in light of a large number of customer data loss scandals.
CitiBank, Bank of America, MasterCard, Time Warner, MCI and Lexis-Nexis have all suffered bad publicity from recent data losses, whether through theft or misplacements.
IBM said the Data Governance Council will look to redefine the management of data governance policy, the impact of policy on business processes and practises and the enforcement of policy in IT infrastructure, content and organisational behaviour.
The council will use IBM and business partner solutions to draw up its blueprint for improved data governance.
The Data Governance Council said security, privacy, compliance and risk challenges need to be addressed with common solutions and standards.
The Council says there is a “significant disconnect between organisational and IT roles and behaviour, which causes potential exposures”.
It also says policy and business rules are not linked to business processes or IT systems, that there are few technologies available today to solve these complex issues, there are no common methods for meta-data classification and IT integration, and that controls are currently deployed before long-term consequences are modelled.
Data Governance Council members currently include: ABN Amro, American Express, Bank of Montreal, Bell Canada, Danske Bank, Deutsche Bank, Merrill Lynch, TeliaSonara, the United Nations Development Programme, and the World Bank.
None of the financial companies who have suffered recent data losses have so far joined.