Comments
BYOD Policy: Don't Reinvent the Wheel
Newest First  |  Oldest First  |  Threaded View
<<   <   Page 2 / 2
KBurger
50%
50%
KBurger,
User Rank: Author
8/28/2014 | 1:07:33 PM
Re: Is financial services any different?
If you think about it, financial services really could define the best practices and set the agenda for policies around BYOD, exactly because of the unique challenges and regulatory requirements. If FS can figure this out (or at least address it consistently and somewhat effectively), then any business, regulated or not, should be able to. Yet another opportunity to lead and set the agenda, if they so choose.
IvySchmerken
50%
50%
IvySchmerken,
User Rank: Author
8/28/2014 | 11:54:30 AM
Re: Is financial services any different?
If a breach does occur, companies also need an incident response plan that takes into account who they should call and whether this escalates to reporting to a regulator.  Frameworks, policies, limitations are all important, but preparing for an actual incident is also vital.
Kelly22
50%
50%
Kelly22,
User Rank: Author
8/28/2014 | 9:50:48 AM
Re: Is financial services any different?
Good point, a strong BYOD policy is just one component of what should be an extensive security strategy. Even firms without a mobile policy (though they should have one) should take the necessary steps to protect against attacks throughout the organization. 
Jonathan_Camhi
50%
50%
Jonathan_Camhi,
User Rank: Author
8/27/2014 | 4:55:39 PM
Re: Is financial services any different?
Beyond just having a good policy in place, there has to be safeguards for a potential breach no matter what. Even if a company restricts employees access to the company's networks as much as possible (good luck with that), at some point some hacker will find a way into the organizations IT environenment. The key is to have the back end monitoring and segmentation of different parts of the network that will limit any breach. I'd want to make sure that was all in place regardless of BYOD.
Becca L
50%
50%
Becca L,
User Rank: Author
8/27/2014 | 1:42:03 PM
Re: Is financial services any different?
Healthcare may also have similar concers given the rules around patient documents, but I agree FS is unique in their concerns. It would be bad news indeed if the wave of new smart devices were not accounted for in BYOD protocols , leaving accounts open to the wrong hands.
IvySchmerken
50%
50%
IvySchmerken,
User Rank: Author
8/27/2014 | 12:29:18 PM
Re: Is financial services any different?
I would argue that financial services is different since so much confidential information is flowing through the firm, and there are regulatory consequences to breaching data security. Following policies and procedures from other industries or standards from NIST sounds like a prudent way to move forward. Controlling a refrigerator with a smart phone is cool, but wiring money from a bank account that ends up in the wrong place, can be a problem.
Greg MacSweeney
50%
50%
Greg MacSweeney,
User Rank: Author
8/27/2014 | 12:03:05 PM
Is financial services any different?
One thing we constantly hear from financial services compliance experts is that banks struggle with BYOD because of all of the extra regulatory/compliance rules that banks face. But a good BYOD policy (even a template adapted from another company or industry), should be able to address the specific needs of banks, right?

Companies in other industries also face privacy laws and oversight from other regulators.
<<   <   Page 2 / 2


Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - Elite 8, October 2014
The in-depth profiles of this year's Elite 8 honorees focus on leadership, talent recruitment, big data, analytics, mobile, and more.
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.