Implementing Fintech Security without Slowing Down Deployment
Presentation Date & Time:
September 17th at 2:50 PM
Name: Tim Woods
Title: VP of Technology Alliances
Fintech security is a story of the “new” and the “old.” The “new” is all of the new customer-facing apps that are driving new levels of customer engagement, loyalty and capability. The “old” are the same old security and compliance problems that come with deploying new technology: as you expand your digital footprint with new apps, you can also create security gaps and vulnerabilities that run afoul of regulations. And, implementing security often slows down new technology initiatives, as the security team implements the rules and policies required to ensure regulatory compliance and security.
This leaves financial services companies with a dilemma: lines-of-business are engaged in a fintech “arms race” to get new capabilities to market as quickly as possible. But the security team wants to slow them down to ensure compliance. How does one balance the competitive pressure to move quickly, with the security requirement to be diligent?
In this presentation, Tim Woods, VP of technology alliances at FireMon, will discuss strategies financial services organizations can adopt to make security an enabler rather than a roadblock to fintech initiatives, touching on key areas such as:
- Visibility - You can’t secure what you can’t see. Discovering all of the devices and assets connected to the network, and understanding the network paths that are going to each asset, provides vital intelligence to change-management and other security management technologies. This is particularly important across hybrid-cloud environments, which typically have a very fast pace of change, and achieving cloud visibility can be a challenge.
- Planning - Testing with network change-management technologies will help security organizations understand the impact any new fintech deployments will have on compliance and security, so they can make appropriate adjustments before apps go into production.
- Continuous Change Management - After deployment, it is critically important to have guardrails in place for keeping network assets in compliance. This is accomplished through continuous change-management monitoring.
- Intent-based Security - This emerging security paradigm will provide “self-serve security” to DevOps, effectively removing security as a bottleneck to new fintech technology deployments.
Tim Woods Biography
Tim Woods brings more than 20 years of security experience to his role as VP of Technology Alliances at FireMon. His global engagements have given him great insights across virtually every market sector and enterprises of all sizes. Tim believes his most important task is education and raising awareness to build strong organizational security postures. According to Tim, “fighting complacency in security should be everyone’s top priority if we are to win the war on cybercrime." Tim’s passion for security grew quickly during his 8-years serving the Naval Intelligence Community and continued to grow as he assumed strategic roles at several successful security startups and a defining role at Nokia Enterprise Solutions. Concerning FireMon, Tim says “It’s very gratifying to work somewhere you know is making an impact.”