Management over the last several years a essay
Excerpt by Essay:
Over the last several years, a multitude of financial institutions have been completely facing a number of different security issues. This is because from the information that they can be storing provides sensitive data about their clientele such as: the social secureness numbers and net worth. During the period of time, this has become a main target for identify robbers who need to steal this fabric. At which point, the total amounts of episodes against these types of organizations have increased tremendously. A good example of this is seen having a report that was released by security organization McAffe. That they identified seventy two remote get threats that had been directed against financial and government institutions over a five-year period. The particular this record so disturbing is that the attacks were generally undetected. As they were created to steal vast amounts of data, with no alerting secureness officials of their presence. This is significant, since it is illustrating how the overall scope of the threats against banking institutions has gone up dramatically. (Bourdeau, 2011)
When it comes to BCS Monetary, they have been facing a number of conceivable challenges. Part of the reason for this, is because they are serving many different high net worth customers. As, the firm is well known for keeping and retrieving tremendous levels of personal info that can be used as a way to understand the requirements of each consumer they are working together with. As a result, the business is facing challenges surrounding the security in the information they are storing. To prevent any kind of information from becoming compromised ensures that the company must present a process that can properly deal with such threats. To completely understand the way this can be obtained requires: evaluating how the use of technology will make the business more effective, studying the effect of impair technology protocols and the need for planning / control techniques to protect private information. Once this occurs, it will present specific ideas about how the organization can be able to address virtually any possible threats. While at the same time, letting them utilize technology to better service their particular clients.
Make clear how using technology will make the business more efficient
The use of i . t can make the branch business office of BCS Financial better. The reason why, is really because this will allow economical advisors and support staff to quickly access customer information about: all their holdings, risk tolerance, economical objectives along with other relevant info. At which point, representatives can be able to offer customizable solutions that will treat the individual needs of each buyer in every thing ranging from: the purchasing collateral securities to estate organizing. This is a part of an effort to keep up with the changes the competition has been continually embracing. A good example of this is seen by looking no further than, the system that may be being used by ING Financial Services. Where, the firm has introduced a technology solution that will enable portfolio managers to get in touch with buy and sell aspect analysts through the Bloomberg’s major research program. As, this is designed to supply them with an advantage by: having greater access to the markets to assist customers in making decisions. This is significant, because it is illustrating in how numerous banking institutions are using this technology to improve their capability to service clientele. (“ING Expenditure Management, ” 2011)
In the case of BCS Economic, a similar sort of solution is going to be utilized to offer our experts with access to the latest technology solutions to treat these challenges. At the same time, this will help to the organization to be able to match the changes inside the technology that may be being appreciated by the competition. Once this kind of occurs, it indicates that we can be able to offer easy to customize solutions which can be superior to what many different competition are rendering. Once this kind of takes place, we are able to address the specific needs of shoppers and raise the total sum of assets that are below our control.
The concept of impair technology
To maintain the information we will be using the system known as cloud technology. This is how we are going to become storing most data practically. Where, the firm will probably be utilizing the services of another company to store and retrieve data about: clients, the markets, trade platforms, compliance issues and property planning. The key reason why this solution is being chosen is because, it can provide the company with a considerable amount of data space for storing without having to make use of in house servers. This reduces the costs connected with maintaining and retrieving all kinds data that is certainly necessary. Concurrently, it diminishes the possibilities of experiencing the computers down, which could contribute to shed amounts of information. As, cloud computing will protect the organization and its info from facing these kinds of issues.
This is significant, because it is illustrating how this kind of improving the ability of BCS Financial to quickly get access to large amounts info without having to worry about any kind of lost data. At which point, the firm could be able to expand and boost the total numbers of storage, without having to deal with possible challenges surrounding bandwidth or space in the foreseeable future. Once this occurs, it means that we have entry to a number of different pieces of information and solutions that will improve each of our ability to successfully respond to the requirements of consumers. While at the same time, it can be allowing all of us to keep up with changes that are being embraced by rivals. (Knorr, 2011)
The importance of information technology planning along with the control processes to guard confidential data and prevent significant loss of information.
A major problem that is associated with holding the data in the firm through cloud computing is: that it can be susceptible to key security breaches. To prevent this from taking place, we have to make procedures to: protect the knowledge and reduce the failures of essential materials. Because of this, we must examine a number of different factors to efficiently deal with these kinds of challenges to incorporate: looking at the application packages that will be utilized, the networks, email / instant messaging programs, site vulnerability and provide a disaster restoration plan. When this happens, it will give specific observations as to how a company may be able to reduce the kinds of risks that they are facing.
The software deals that will be used
The initially line of protection for BCS Financial is to use several different applications that APPLE is offering to handle cloud calculating to include: Cloudburst and Systems Detector. Cloudburst is designed to give a virtual firewall for all data that is being retrieved via remote data storage facilities. As, it encrypts and protects hackers from having the ability to monitor and attach Trojan viruses horses to several data downloads available. While, the systems sensors is when you can actually manage a host of different programs across a number of platforms. This will ensure that every applications that are being utilized can: work efficiently with the Cloudburst firewall that has been established. These types of different elements are important, because they are showing how this kind of computer software will allow the firm to download numerous information via a number of different directories. While, allowing for us not to worry about: any sort of major reliability breaches. (“IBM Systems intended for Cloud Calculating, ” 2011)
The best network provider to store the massive numbers of data intended for the company is IBM. The key reason why, is because they will deliver a digital cloud network. This will boost our capacity to integrate the several security features into the safe-keeping solutions we are utilizing. Once this happens, we will be choosing steps to make