Online Security Solutions in the Financial Industry based on a Commercial Risk Assessment Matrix

Jorge Marx Gómez and Stephan Paxmann

Journal of Information Privacy and Security, 2006, vol. 2, issue 3, 21-41

Abstract: The selection process for specific Online Security solutions is often based in practice on either technological security requirements or business driven security requests. The prime focus for such a selection however must be based on its optimum risk mitigation factor, which is a combination of multiple risk areas like technology, legal and commercial factors. A combined Risk Assessment Matrix therefore will significantly improve the selection process of a commercially viable security solution, as it will take all risk areas into Account and makes them comparable. The key success factor to such a commercial risk assessment matrix is the combination of the different and often diverging risk mitigations and a standardized approach to their assessments.

Date: 2006
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DOI: 10.1080/15536548.2006.10855796

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