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IDC: Collaboration Needed for Better Mobile Security Among Banks

Better internal collaboration needed to improve banking security.

A new study from the researchers at IDC has found that the IT and business sides of many financial institutions are falling short of the collaboration needed to fully secure mobile technology, CSO recently reported.

"An unfortunate consequence of taking this approach is the widening of the gap which has perennially existed between 'the business' on one side of the divide and IT on the other," IDC analyst Alex Kwiatkowski said, according to the news provider.

In many cases, this gap is actually unintentional. IDC found that it stems from the business side of a financial institution calling for greater use of mobile technology, despite push back coming from the IT departments. The latter are the ones most fearful of mobile security risks.

Bringing the two sides together has never been more important than it is now. After initially believing the mobile security threat levels were low for banks, IDC has recently reversed that stance, according to CSO.

The need for enhanced mobile security goes beyond a company's walls, as well, according Mary Monohan of Javelin Research. She told BankInfoSecurity that consumers are reluctant to engage in mobile banking practices unless they are assured applications protect their sensitive information.