Achieving speed to market can provide banks with a competitive advantage. But they need flexible technology infrastructures to achieve speed-to-market strategies, and launching products just for the sake of offering something new won't win banks new business.
Two senior U.S. Senators introduced a wide-ranging data protection bill that would send officials from companies who do not disclose security breaches to jail for up to five years, and bring the RICO Act to bear on identity theft gangs.
Some 6,000 former and current employees of the Federal Deposit Insurance Corporation (FDIC), the agency responsible for insuring Americans' bank accounts from theft, were themselves victims of an identity breach 18 months ago.