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CTO Corner

CTO Corner is BITS’s monthly publication covering emerging trends and technologies in the financial services industry.

CTO Corner: Financial Top-Level Domains: Opportunity to Improve Internet Security

The financial sector is seeking to secure from the Internet Corporation for Assigned Names and Numbers (ICANN) two top-level domain names (.bank and .insurance). If successful, this investment could significantly improve Internet security for financial institutions. This article provides background on efforts to secure .bank and .insurance and...

CTO Corner: Improving Cyber Security Risk Management through Collaboration

Back in March 2013, I wrote a CTO Corner on Operational and Cyber Risk Management.1 This article discusses what has changed and identifies the following three areas of increasing importance to better managing risk, anticipating and countering the threat:

CTO Corner: Cyber Security Trends

This column reviews cybersecurity technology tools and best practices in use today, discusses areas that need improvement, and introduces some promising trends. Today’s cybersecurity tools and best practices can be organized under the five functions (Identify, Protect, Detect, Respond, and Recover) using the categories in the recently-issued...

CTO Corner: EMV, PCI DSS and the Role of Standards in Financial Services

This article focuses on two security standards -- Europay, MasterCard and Visa (EMV) and Payment Card Industry Data Security Standard (PCI DSS) -- with respect to their roles in combatting credit and debit card fraud and fending off cyber-attack. They are not the only important standards relating to payments, but they are the key ones for credit...

CTO Corner: The past year in prospective: What might the future hold in store for Financial Services

We have seen a lot of change in the past year including Distributed Denial of Service (DDoS) attacks on banks, the NIST Cyber Security framework, proposed Cyber legislation, the NSA disclosure, the rise of Bitcoin, the continued growth of mobile with the emergence of internet- enabled devices including the Google Glass1, smart watches...