04:29 PM
Financial Executives Not Prepared for Increased Regs for Sensitive Data
Almost 60% of finance executives anticipate new regulations regarding sensitive business information will increase in 2009, but almost half say they are unprepared, according to a new survey from Intralinks , a provider of virtual data rooms.
Eighty-nine percent of respondents said they still use older solutions, including file transfer protocol (FTP) sites, document management software, electronic data interchanges (EDI) and protected drives for sharing files beyond the firewall.
The survey polled 50 Fortune 1,000 financial executives, 32.7% of who are in the financial services.
Executives reported facing a number of challenges with current methods of sharing information outside the enterprise, Intralinks said, including:
Lack of flexibility (31 %); Lack of tracking for compliance purposes (23 %); inability to act quickly with new partners and projects (10 %); and difficult-to-use services (7 %).
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio