In a digital economy where businesses can reach vastly more people, iterate quicker, and make faster, better decisions than ever before, trust attracts customers. But these same capabilities also amplify mistakes and make exposure to business risk more systemic. That could mean losing customers, market share, and value.
Digital risk and opportunity are two sides of the same coin. To gain the trust of individuals, ecosystems, and regulators in the digital economy, businesses must possess strong security at each stage of the customer journey. And new products and services must be secure-by-design. Businesses that get this right will enjoy such high levels of trust that their customers will look to them as guides for the digital future.
Without robust security organisations are unable to take full advantage of opportunities to serve customers more effectively and increase sales. An agile and flexible approach to security will help them to manage risk across their business. Continuously adapting their defences to deal with the changing threat and making sure that their security complies with the latest regulations means that they will then be able to protect their data, customers and reputation.
Digital transformation means using new ways of working and new technology to get ahead. But this brings new security challenges.
Moving to the cloud
Cloud is a foundational platform for digital transformation and cloud is now well and truly an integral part of the IT mix, especially for organisations that are more mature in their digital practices. But three key concerns still remain around cloud - lack of security control in the cloud, regulatory/compliance issues and lack of cloud usage visibility. As the digital world continues to grow, and traditional security perimeters start to vanish, critical and personal data has become more widely distributed and at risk to threats. Moving to the cloud means that visibility and management of security need to be coordinated with a wider set of parties and working cultures.
Exploding threat landscape
New security threats appear every day to test these new technologies and malware is growing at an unprecedented rate. Having visibility of these threats in time to do something about them is a constant battle. Threat intelligence is key to understanding the growing attack surface but crucially, if it is to be effective, it must be both actionable and acted upon. Having the right people in place with the expertise for a real-time response is vital.
Change and regulation
As more personal data travels across cloud infrastructures and potentially insecure mobile devices, legal frameworks and regulations are rapidly being put in place to protect customer data from exposure. Organisations must take a fresh look at their existing security processes and controls to ensure they meet new compliance requirements.
Regulations are evolving to protect customer data
New regulation encourages organisation to build security in by “design” and not by “default”, but business strategy doesn’t always align with security strategy, causing potential gaps and vulnerabilities. CIO’s don’t always know exactly what makes up the corporate IT estate and end up spending more time maintaining existing systems than searching for new solutions. Many are hindered by legacy IT and have vulnerabilities dating back to 2011.
How we can help
The digital security opportunity lies in three areas:
- Protect what matters most. In other words protect your data regardless of where it is travelling.
- Harness big data - Security, network, and user devices now produce vast quantities of data. The modern challenge is to rapidly make sense of that data; in real-time, to detect and prevent internal and external threats.
- Comply with regulation - You need to look at your entire security landscape, because it underpins your efforts to comply and protect data.
With operations in over 180 countries supporting some of the world’s largest companies, nation states and critical national infrastructures, we have a unique perspective on cyber crime. From our 14 global security operations centres, our 2,500 security professionals are constantly watching, learning, predicting and responding to the latest threats to protect our customers and BT.
Cyber security is continuing to develop and evolve, due to regulatory demands, new threats and innovative technologies. From cybercrime to data integrity, all aspects of security are likely to experience significant change.”
- Ramy Houssaini, Vice President, Security, Europe, BT.