Saving money bank style
Posted: Thu Feb 13, 2025 4:45 am
Digitalization can also have a negative impact on the banking information security market: IT is becoming the main tool in banks, which means that their requirements for the economic efficiency of investments in IT/information security are increasing — the marginality of projects is decreasing (unlike, for example, the oil and gas industry, where the costs of information security are often impossible to consider in the budget of organizations even with a magnifying glass.
although they amount to hundreds of millions of rubles). This is especially south korea whatsapp data for retail banks, the marginality of whose business may be lower than the marginality of their counterparties. However, counterparties are not tied to retail banks and may be quite cool to the idea of additional discounts, so such cost optimization strategies as the use of Open Source, import substitution (many Russian products are not standing still), and outsourcing may be relevant for banks. We asked our experts to evaluate these strategies and offer their own.
Dmitry Romanchenko pointed out the use of Open Source as one of the options of the "first choice" in cost optimization, but emphasized that there are nuances: "This raises an obvious question about the center of responsibility for the system built on FOSS - the bank receives all the risks, and there is no one to share them with. As a result, the use of Open Source only partially contributes to the reduction of the TCO of information systems." He also described his vision of import substitution in the banking sector: "Import substitution should be considered rather in the context of reducing the strategic risks of the bank, and not as a direct tool for reducing the cost of IT/IS. The transition to domestic solutions is a way to reduce country and sanction risks, as well as a transition to working with more manageable and loyal local suppliers. This approach, among other things, makes it possible to fully check the source code of software products for security and the absence of vulnerabilities."
although they amount to hundreds of millions of rubles). This is especially south korea whatsapp data for retail banks, the marginality of whose business may be lower than the marginality of their counterparties. However, counterparties are not tied to retail banks and may be quite cool to the idea of additional discounts, so such cost optimization strategies as the use of Open Source, import substitution (many Russian products are not standing still), and outsourcing may be relevant for banks. We asked our experts to evaluate these strategies and offer their own.
Dmitry Romanchenko pointed out the use of Open Source as one of the options of the "first choice" in cost optimization, but emphasized that there are nuances: "This raises an obvious question about the center of responsibility for the system built on FOSS - the bank receives all the risks, and there is no one to share them with. As a result, the use of Open Source only partially contributes to the reduction of the TCO of information systems." He also described his vision of import substitution in the banking sector: "Import substitution should be considered rather in the context of reducing the strategic risks of the bank, and not as a direct tool for reducing the cost of IT/IS. The transition to domestic solutions is a way to reduce country and sanction risks, as well as a transition to working with more manageable and loyal local suppliers. This approach, among other things, makes it possible to fully check the source code of software products for security and the absence of vulnerabilities."