IT Security: New Requirements, Regulations and Approaches

Günter Müller (), Stefan Sackmann () and Oliver Prokein ()
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Günter Müller: University of Freiburg
Stefan Sackmann: University of Freiburg
Oliver Prokein: University of Freiburg

Chapter 29 in Handbook on Information Technology in Finance, 2008, pp 711-730 from Springer

Abstract: Abstract Over the past decades, the business environment in the banking sector has changed substantially. Financial service providers and direct brokers have entered the market for private customers. Insurances meanwhile offer investment funds and other products for retirement provision and companies that usually operate in other branches offer new services to customers (e. g. home-banking software of Microsoft). Faced with such increased competition, banks, in particular, pursued Customer Relationship Management (CRM) (Sackmann and Strüker 2005) as a strategy for canvassing new customers and optimizing existing customer relationships. This personalization has a serious side effect: the business of whole institutions depends on the availability, correctness and security of the infrastructure to run the services. Security and the relationship between customers and providers has become a critical issue for both to protect assets and to provide transparency.

Keywords: Security Policy; Operational Risk; Customer Relationship Management; Security Risk; Basel Committee (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-49487-4_29

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