Department of Commerce and Business Administration, University of Allahabad, Allahabad.
Online published on 11 January, 2012.
“PUT NOT YOUR TRUST IN MONEY, BUT PUT YOUR MONEY IN TRUST”. The recent economic crisis has resulted not only in serious challenges to, but also significant transformation in, the financial services industry. The financial turmoil - along with the increasing complexity of the financial ecosystem - has placed unprecedented and new demands on financial services institutions. Yet severe market disruption and dislocation also present an opportunity for institutions to drive innovation, differentiate products and services and break away from the competition.
Technology advances, regulatory changes, demographic shifts, and mobile lifestyles and work styles revolution are all factors likely to significantly reshape the financial services landscape in the next decade. By indentifying some of the timely and key trends for the industry, financial institutions can prepare and look at ways to turn adverse market conditions into profitable business opportunities. Information security is one of major cause of concern for the banks to maintain secure, robust and convenient financial system. Unfortunately this sector is not as secure as it be Everyday a new security challenge has arrives and increase the existing risk level of this sector.
This paper attempts to identify the various information security risks which can negatively affect financial sector in terms of information security. This paper also attempts to provide certain measure to make information much secure and robust.
