PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Securing and Managing the Business Data You Accumulate Is Getting Harder and Increases Your Liability

By Tim Sloane
January 10, 2020
in Analysts Coverage, Fraud & Security, Personal Data, Security
0
3
SHARES
0
VIEWS
Share on LinkedIn
TSYS Hack Immaterial to the Company, but What about Its Customers?

TSYS Hack Immaterial to the Company, but What about Its Customers?

How your firm manages data will shift dramatically due to the impact of machine learning, ISO 20022, and new privacy regulations. These issues will be additive to the current complex and underappreciated security problems that already exist in most organizations, as demonstrated by what seems to be daily notifications of customer data released into the wild.

The advice in this Forbes article is not telling you how to prepare for these new challenges specifically, but does provide operational recommendations that are broadly applicable:

Build security in from the beginning and automate whenever possible.

Typically, information security is an afterthought in building a new software application or implementing a new system. Once the implementation is finished, the security team starts testing it, resulting in a long list of things to fix before the system can go live. Suddenly, the launch date is in jeopardy, and there is resentment and recrimination on both sides — and the security that results is not as tightly integrated as it should be.

When I worked for a major financial services provider, we had similar problems with security testing coming so late in the development process. Instead, we asked the security team to become part of the early planning and development sprints for any new application. We got early feedback on what would make for a more secure approach, and the relationship between the developers and the information security team became more collegial and cordial.

One lesson I also learned from this experience is to perform automatic log scans for oversights and vulnerabilities. The best way to do this is to incorporate it in the early stages of your continuous integration, continuous delivery (CI-CD) pipelines. With the volume of work and the speed that business requires, it’s just not possible to do such things manually. Automation is imperative.

Security as a business enabler.

Of course, some of the unauthorized data access we might catch will be people at our own company who have a legitimate business need for the data. Inadequate access can stifle ideas and innovation. The logs can serve as a starting point for a larger discussion on how the company can make better use of its data.

Yes, data can be a liability, but so can overly stringent data security. Security should be a business enabler, providing a secure foundation for trusted relationships between the organization, its employees, its customers and its partners. That way, we can move beyond the fear that our data is a potential liability and know that it has become a true asset for the organization.”

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

3
SHARES
0
VIEWS
Share on LinkedIn
Tags: Data ManagementISO 20022Machine LearningPersonal DataPIIRegulationsSecurity

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    real-time payment fraud prevention

    How Innovation Is Transforming Payment Fraud Prevention

    August 13, 2026
    phygital payments

    Why People Still Want Physical Things in a Digital World

    August 12, 2026
    AI debt collection, Apple Pay transaction growth

    How AI Makes Collections More Human—and More Effective

    August 11, 2026
    FedNow Service

    The Use Cases Propelling the FedNow® Service’s Growth—and Shaping Its Future

    August 10, 2026
    merchant debit fee

    Culture Clash: How Banks Are Adapting to Embedded AI Experts

    August 7, 2026
    programmatic payments

    The Rise of Programmatic Payments and the New Compliance Challenge

    August 6, 2026
    stablecoin compliance

    The Death of the Payment Router: Why “Compliance as an OS” is the Only Way Forward for 2026

    August 5, 2026
    payment choice

    Why Payment Choice Still Matters in a Digital-First Economy

    August 4, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2026 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result