SA companies demand security reputation

Angola's economy expanded by  7.4% of GDP in 2013. According to the World Bank, its GDP per capita was US$5 668 in the same year – almost twice that of Nigeria.

JOHANNESBURG, (CAJ News) – A MAJORITY of companies in South Africa prefer to bank with a provider who has a solid security reputation.

This is according to a Kaspersky Lab survey indicating 76 percent of companies prefer such providers.

Those banks that make security a priority and take every effort to ensure measures are in place to safeguard against online financial fraud will have an advantage, when it comes to retaining existing customers and reaching new ones.

The research found that almost all companies (99 percent) now use online banking in their day-to-day operations. The ability to use banking services without needing to physically visit a bank gives a lot of advantages including, improving response times and reducing operational costs.

However, this convenience can also come at a cost, putting companies at risk of online financial fraud and giving cybercriminals yet another way to compromise corporate IT infrastructure.

Kaspersky Lab Global Head of Fraud Prevention Ross Hogan, said in today’s technology driven environment, banks operated very much like IT companies.

“All of their interactions with customers and partners are computerised and information is shared and stored online.”

However, despite the advantages it makes banking processes vulnerable and any compromise to the IT infrastructure can lead to huge data loss or, even worse, severe financial and reputational damage.

“It is therefore imperative that banks also think more like IT companies and make security a priority when developing and delivering their services.”

CAJ News

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Posted by on Mar 31 2016. Filed under Africa & World, Featured, Finance, National, News, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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