IT tagged posts

The challenges of technological advances is the network security

Many organizations are responding to the increased popularity of mobile devices and social media with increases in security staffing. Security professionals are most concerned about targeted attacks, external hackers and insider threats. Mobile computing, social media and internet technologies make the security professionals jobs much more challenging.

According to reports, nearly 50 percent of IT security professionals say that external threats pose moderate to significant risks to their organizations, compared to 46 percent for accidental breaches by insiders and 44 percent for malicious insiders, according to the survey conducted by Symantec called the 2011 state of security survey, released August 31. Many organizations rank cyber attacks as bigger risks to their businesses than other forms of criminal activity or natural disasters.

Mobile computing, social media and internet technologies were the top trends in the industry making enterprise security more challenging. Many organizations also think that securing platforms and data was significantly more important than it was 12 months ago. According to the report, 29 percent of organizations see attacks on a regular basis and 71 percent had been attacked at least once in the previous 12 months. The top kinds of attacks were malicious code, social engineering and other external attacks.

About 46 percent of businesses reported increasing networking and web security staff, 41 percent of businesses planned to increase the budget for security and 38 percent of businesses plan to increase their budget for security systems management. As organizations are increasing their security to improve protection, the treats will continue to evolve and continue.

Businesses can protect themselves from these type threats by integrating multi factor authentication solutions to help combat these attacks. Multi-factor authentication is a security system in which more than one form of authentication is implemented to verify the legitimacy of a transaction. In contrast, single factor authentication involves only a user ID and password. In solutions that use two factor authentications, the user provides dual means of identification, one of which is something like a physical token, such as a card, and the other of which is typically something memorized, such as a security code.

As more organizations use mobile technologies and social media on these mobile devices, the threats will continue and solutions such as multi factor authentications will be the key to reducing these security threats. Additional authentication methods that can be used in MFA include biometric verification such as finger scanning, iris recognition, facial recognition and voice ID. Smart cards and other electronic devices can be used along with the traditional ID and password.

When discussing security, layers are always necessary. Multi factor authentication is a great solution to prevent intruders, but other measures need to be taken against malicious code. All systems need to be protected against various types of penetration. Organizations will still need firewalls, intrusion prevention systems and other types of security measures.

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How Banking Robotic Software Is Helping Banks Compete With New Entrants

Banks are experiencing new and disruptive challenges to their traditional business models and product offerings. There is a whole new range of companies like Google, Apple and others starting to provide financial services focused on the most profitable products and services currently being provided by banks.

Banks are responding by offering similar services in a fashion now being expected by consumers, but they are facing huge challenges in adapting their existing technologies, legacy systems and business architectures. This is where Banking Robotic Software is making rapid change possible.

They traditional response to these new competitors would be to replace legacy IT systems with state of the art technologies. Unfortunately, replacing these core systems would take years and enormous amounts of capital and operational risk. An option banks are increasingly taking is to augment existing systems by applying Banking Robotic Software. This approach allows new products and services to be offered through new customer interfaces, with Robots processing the various transactions through the user interface of existing legacy applications. This approach would be less feasible if humans were required, however it becomes practical because Robots work at twice the speed of humans, 24 hours a day and 7 days a week. Since these Robots can work on virtual computers, they do not require any of the infrastructure that humans require and are not susceptible to the attendance, coaching and other management overheads required by humans.

Banking Robotic Software can be also be deployed much faster than large IT projects. Robots can be configured and trained on timelines similar to training a new staff person. However, once one Robot has been trained, all other Robots immediately receive the same training.

Banks are also applying Banking Robotic Software to their other business lines as a means of reducing cost and improving customer service. At a cost of less than $7.5K per year, Robots are also enabling companies to repatriate work from business process outsourcers, resulting in further cost savings and improved customer service.

Insurance Robotic Software

Insurance Robotic Software is helping reduce cost, mitigate risks and improve customer service. Insurance policies are evolving rapidly to accommodate new situations and technologies, while the need remains to support legacy policies. In the past, companies relied on humans to retain knowledge and experience to these support legacy policies, however todays employment market is seeing a much higher turn-over of staff and the resultant risks associated with losing staff experienced in administering legacy policies.

Robots can be trained in very complex business logic and are therefore able to process claims across a full range of policies, quickly and efficiently, with no human errors. They also eliminate the risks of staff turnover.

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