Digital risk management can secure resources to IT areas |
Posted: July 20, 2020 |
Digital transformation is redefining the relationships that clients, workers and leaders have with various aspects of the business and security is one of its critical elements. The need to stay ahead of threats is pushing a philosophy of resilience in organizations, so evaluating and risk management is increasingly appearing as a fundamental task for management. Especially since the risk is not only measured in the consequences of attacks such as viruses, ransomware or information leaks, but even not making a specific investment can greatly increase the economic impact that an organization must face; therefore, it is a concern that must be in the reflections of all teams. Fighting cybercrime, a priority for organizations As organizations face a digital transformation process, risks also escalate and transform. Threats can come from different sources: cyber criminals, activists for political or social purposes, hackers hired to extract user data or to crash the system. Due to the large number of attacks that a company can suffer, the question is no longer how to avoid being attacked, but how to act once this happens. Although a strategy to prevent attacks is essential, financial institutions need to go further to identify, prevent and eliminate threats in real time. This implies finding new methods to detect risks and, at the same time, having an effective action plan. The challenge in a digital transformation process is to find a compromise between safety and user comfort . Biometric identification , for example, has been optimizing the shortcomings of the old and well-known authentication system through a key or password. Surely in the future security will be refined more and more. It will not only include the reading of fingerprints, the face or even the retina or the iris of the eyes, but also the identification of voice patterns, handwriting or the typing dynamics of a user's cell phone. Data protection, a fundamental challenge In the era of digital transformation, guaranteeing the privacy of user data and minimizing the risk of information theft are other essential concerns for banks. On the one hand, unencrypted data can create breaks in the system for hackers to access the information. Therefore, organizations need to properly encrypt account numbers, names, addresses and any other confidential customer data. The challenge, to strengthen the organizational culture Although the risks of innovation take place in a specific and vulnerable area of ??the company, digital transformation requires that all fronts of the entity be aligned. This involves creating a culture of risk and a clear internal control environment that helps keep the entire organization up-to-date and aware, with processes that communicate from the bottom up to the highest level.
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