Banks fail on information management

Managing risk is a priority, but less than a third of bank executives takes an integrated approach to information management.

Managing risk is a priority, but less than a third of bank executives takes an integrated approach to information management.

A survey of European financial services firms by analyst Datamonitor, on behalf of security firm RSA, found confusion at firms about the best way to manage information and the risks it is exposed to.

The survey covered senior IT and risk and compliance executives, together with CEOs, COOs and CIOs in financial service organisations across the UK, Spain, Italy, France, Germany and the Benelux.

The research revealed that information risk management is increasingly on the business agenda, and 67% of respondents surveyed said it is important to approach risk management at an enterprise level.

However, the research also showed that progress towards this goal is slow, with only 32% having already addressed the initial stage of removing information silos for managing information security across the organisation.

The survey also found that half of all respondents admitted that complying with regulations is dealt with on a case-by-case basis, instead of using a strategic approach.

Financial institutions surveyed included those with assets from £5bn to £125bn.




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