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When compliance is not enough—a new approach to data security and banking

G5502049082006_JPGHighres.pngWhen it comes to security and privacy, there isn’t a standard high enough for banks and their customers. With an increasing amount of transactions being handled digitally and from other channels, it is critical that banks offer the most comprehensive processes and standards and privacy. Customers also need to experience a consistent level of confidence and confidentiality across multiple platforms from multiple channels, such as the teller line, customer service phone numbers, ATMs, kiosks, online, mobile devices, tablet, or otherwise. Banks and financial institutions also have additional layers of complexity concerning compliance and regulatory requirements.  

 

To understand how to exceed both customer and compliance expectations, we sat down for a brief interview with two HP experts. Here’s what Ross Feldman, Director of Industry Strategy, U.S. Financial Services and Jeffrey Lewis, Global Security Product Marketing Manager for HP Enterprise Services have to say. 

Labels: Banking| FSI

Financial Institution Shareholders steer IT Conversation towards Cloud Computing

Since cloud for industries has been on my mind lately, I read the HP Industry Edge Financial Services edition with great interest. The article  by Jim Scurlock caught my attention because he is discussing how shareholders within forward-looking financial institutions are changing the conversation around IT. Their focus is not just on the newest technology on the block or exercising control over the operational expenses. Scurlock says their focus is more on maximizing shareholder value. He goes on to share the 4 steps that form the basis for driving the conversation around IT.

 

I find that these 4 steps reinforce the need for cloud computing-based solutions in the financial industry. Let me explain how:

North Shore Credit Union partners with HP Enterprise Services for co-managed hosting

HP helps North Shore Credit Union with co-managed hosting

A “work smarter, not harder” philosophy led North Shore Credit Union (NSCU) to partner with HP Enterprise Services in a groundbreaking collaboration that frees the credit union to focus on strategic business differentiation through exemplary client service.

 

Enabling this success behind the scenes is NSCU’s HP Infrastructure Technology Outsourcing (ITO) relationship with HP Enterprise Services. HP hosts NSCU’s core banking system, Temenos T24 Model Bank for Canada, at a secure, Information Technology Infrastructure Library (ITIL)-compliant data center in Vancouver. 

Should you nix the cash and carry a prepaid card instead?

HP recently announced Prepaid Card Services that open new market opportunities for banks and other industries. The announcement made me start thinking about whether I’d ever used a prepaid card myself. I was surprised by the number of times I’ve participated in this simple convenience and not even realized it. Have you used a prepaid card lately?

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