IBS Journal June 2017


45


SB: Our smartest move has been thinking outside the box and taking another look at how we protect data. In today’s climate, security systems need to change automatically with each call.


I believe that the reason for this is very simple. Security has become a buzzword. “Yes of course our systems are secure;” “We use the latest security systems;” “We employ the most up to date security systems and policies…”, but millions (and in some cases billions) of records are stolen from so called secure systems.


It’s time for a change. Security needs to be taken seriously. Not used as a funding mechanism, or a word that corporations can use to try and shift responsibility to someone else when a data breach happens. Let’s stop talking about hacks and hackers, and start talking about these attacks as theft – of our data, money and privacy.


Due to the nature of their businesses, banking and financial organisations are prime targets. We see time and time again that their current transaction infrastructures are not defeating the increasingly sophisticated attacks they are experiencing, and we want to reevaluate that approach, make security a commitment, not a check box item, but an integral part of the institution.


IBS Journal: What has been your smartest move?


Sophisticated cybercriminals seem to be one step ahead of us so it is vital that enterprises are proactive in their security as reacting to a breach, is often too late. We tackled this challenge head on and began to think about protecting data as a survival, fight or flight method you would find in everyday life. Once a breach has occurred, our systems need to be ready to react to situations, much like how our immune systems react to an incoming disease. Take how an immunisation against TB can react when the real TB bacteria enters the body. An immunisation is not there to stop a bacterium from entering your body, but for when it does enter, the immunisation renders it useless without disrupting the body’s ability to carry on.


We took the immunisation programme and applied it to our data, creating a system that can protect our data from within. We need a system that does not hinder core functions, even under an attack, and one that renders data useless when stolen.


IBS Journal: What was your biggest challenge/setback?


SB: Currently, we are seeing companies continuing to ignore security threats and taking a lazy, lip service approach to them. One of our biggest challenges will be getting people to invest in cyber security. Despite the constant breaches,


there are still many who are questioning if major investments into cybersecurity are worth it compared to the cost of a data breach. We are still seeing many organisations acting hesitant to spending thousands of pounds upgrading their security systems and improving data protection policies and practices, that can often influence how the entire business is run.


Another challenge we will face as we move forward will be persuading organisations to sign up with our proof of concept trials. Most people think in terms of “what will it do for me?” We must find a compelling way to equate running a proof of concept with a value delivery milestone for the participant.


IBS Journal: Where do you want to be in five years?


SB: Technology advances, the ever-increasing sophistication of hackers and the value of the data that is on offer is forcing the industry to change quickly. We are currently looking at our efforts three years out because who knows where we will be as a society two more after that! Mobility and digital technologies are advancing at a rate like we have never seen. With many of these new advancements, comes increased risks and gaps for hackers to access our personal information. Our goal for the future is to help fill those gaps. Looking three years out, we want to be able to help billions of people across the globe securely access their account information without the constant worry of who might steal it.


www.ibsintelligence.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52