Reputational Risk and IT in the Banking Industry
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(0)Overview: How IT risk management can shape the reputation and value of a company
It's no secret that the reputation of your financial institution is at risk every day. An IT issue can set in motion a series of events that can have significant impact on business value, affecting your firm's reputation.
IBM conducted a worldwide study examining how security and business continuity can shape the reputation and value of a company. This study, based on a survey of more than 400 senior executives worldwide and conducted by the Economist Intelligence Unit for IBM, confirms that there is a growing recognition that the banking industry is becoming more complex, and will rely even more on IT support for critical business systems in the future. Yet there seems to be a mismatch between how well financial institutions rate their reputation and how well they are protecting it. IT risks strongly affect the factors most important to a company's reputation - making IT risk integral to reputational risk.
Read this report, 2012 IBM Global Reputational Risk and IT Study and learn why three-quarters of banking executives say their organization will focus more on managing its reputation than five years ago, a higher proportion than in any other industry.
