12 December 2017
visit http://response.ncr.com

IBM forms data governance council

05 July 2005  |  4868 views  |  0 IBM logo

IBM says it is has assembled dozens of financial institutions and technology providers in an industry body called the Data Governance Council which will develop a blueprint for protecting data from thieves and hackers.

Council members include financial firms such as ABN Amro, Deutsche Bank, American Express, Merrill Lynch, World Bank as well as security and network firms including ActivCard, Ping Identity and Corticon Technologies. Institutions such as North Carolina State University, Nova Southeastern University and the United Nations Development Program have also signed up to the scheme.

The council is developing a blueprint for the governance and protection of personal and organisational data within and between enterprises, and is evaluating how firms can implement a data governance blueprint.

The move follows a number of high profile incidents in the US of lost or stolen data including a security breaches at Federal Deposit Insurance Corporation and at third party payments processer CardSystems where more than 40 million credit cards were exposed to fraud.

IBM says companies are finding it increasingly difficult to measure the value of their data, including the types and probability of risks around data loss, and have no standard way to mitigate these risks. As a result, all data is protected the same way - low quality data is over-protected and high value data is under-protected.

Steven Adler, chair of the Data Governance Council and program director, IBM Data Governance Solutions, says one of the biggest problems for organisations is how to manage and control all the data that resides within a company, especially as more firms now do business online, extending into large data supply chains.

"There is a clear need for common solutions and governance models to protect and share data on different levels. At the heart of the IBM Data Governance blueprint, is an initiative to bring a collection of proven technologies and collaborative methods to build consistency and quality control in governance, which will help companies better protect critical data," adds Adler.

According to early findings by the Data Governance Council, the top governance challenges are the need for security, privacy, compliance, and risk challenges to be addressed with common standards; lack of connection between organisational and IT roles and behaviour, which causes potential exposures; policy and business rules not linked to business processes or IT systems; lack of common methods for meta-data classification and IT integration and controls are deployed before long-term consequences are modelled.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Related company news


Related blogs

Create a blog about this story (membership required)
visit http://info.nice.comvisit www.aciworldwide.comvisit www.atos.net

Who is commenting?

Top topics

Most viewed Most shared
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11781 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8665 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
7070 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6811 views comments | 20 tweets | 11 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
6718 views comments | 17 tweets | 35 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job