The best security is a combination of sophisticated tools and education, reckons Francis Walsh, divisional director of technology at the Nationwide Building Society.
Security concerns are nothing new for financial institutions. However, the volume of computer-based threats has grown enormously over the past few years. Last January we saw as many virus attacks as in the whole of the previous year. So this is an area we address very seriously.
That places the responsibility on us to manage security and this starts at the boundary of the organisation. We work closely with external companies in deploying a range of technologies – including software we have developed in-house – and in carrying out penetration tests. All incoming mail is checked and we areo careful about which web sites our employees are allowed to visit.
We don't rely entirely on technological solutions. One of the most effective ways of combating potential security problems within the organisation is through education. People need to be aware of the various approaches that will be used by individuals with malicious, malevolent, or fraudulent intent. Education extends beyond our organisation, too. It is in the industry's interest to know about these issues, so it's important we share what we know with others.
