Microsoft this week released the findings of a survey of worldwide financial institutions and how they use technology, particularly security technology, in their organizations. This week’s results are slated to be part of a four-section blog series from the technology giant, which will later include results from government, healthcare and retail sectors. Data for this survey was collected from over 12,000 respondents, all of whom used Microsoft’s Cloud Security Readiness Tool (CSRT) between November 2012 and February 2014. Let’s take a look at a few of the key findings of this report.
To start, the main finding of this survey was that 38% of financial institutions have not budgeted for any kind of disaster recovery plan. Though the overall numbers will be discussed in later blogs, I can say that the financial institutions are less prepared in this respect.
When it comes to security on the home front, 21% of financial institutions did not have control over managing physical access to their networks, and 23% did not have proper procedures in place for securely disposing of data. For 14% of banking institutions, employees were required to do their own data backup and disposal, with no standard procedures in place. In addition, 37% of the financial institutions did not use a standardized data classification system.
To view the full financial report segment, which includes recommendations from Microsoft, please visit the site at: http://aka.ms/securitytrendsfinancial.
