Digitization Demands a New Approach to Tackling the Cyber Threat
Organizations across the world have made strides in remote working and collaboration during the COVID-19 pandemic, but the proliferation of digitization is creating significant new cyber threats that require radical cultural change at boardroom level.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210808005005/en/
Fred Rica, Principal, Cyber Services, KPMG in the US (Photo: Business Wire)
A new report from KPMG ‘From enforcer to influencer: Shaping tomorrow’s security team’ is calling on business leaders to ensure cyber security specialists are part of the C-suite decision making process, with digitization at the heart of their future growth strategies.
The report offers seven key recommendations to IT leaders and Chief Information Security Officers (CISOs):
1. Act like you belong in the C-suite
CISOs must speak the language of the C-suite, building consensus, demonstrating pragmatism and navigating politics, to help leaders understand the cyber implications of their strategic choices. CISOs are also becoming public figures, serving as the face of the firm to help build trust and confidence.
2. Broaden horizons
CISOs’ responsibilities are broadening to include safeguarding data, dealing with disruptive events to maintain operational resilience, managing third parties, handling regulatory compliance, and helping to counter cyber enabled financial crime. This demands they forge strong working relationships with other business leaders including the Chief Risk Officer (CRO), the Chief Data Officer (CDO) and, of course, the Chief Information Officer (CIO).
3. Weave cyber security into the organizational DNA
Today’s CISOs should be sophisticated communicators, working with other business leaders to embed cyber security into the DNA of the organization. This involves integrating security into governance and management processes, education and awareness, plus establishing the right mix of corporate and personal incentives to do the right thing.
4. Shape the future cyber security workforce
CISOs will have to acquire capabilities from outside the organization, build new partnerships and look for unconventional and diverse talent. In future, we may even see the cyber function becoming far smaller, taking on a strategic and governance role, with cyber security being truly embedded into the business.
5. Embrace automation as the rising star
Automation can reduce the manual workload and ease skills shortages, bringing in greater efficiency and helping meet growing compliance requirements in a consistent and repeatable way. It can also help embed security and improve the user experience, as well as reduce the time to respond to a major cyber incident.
6. Brace for further disruption
We are heading towards a hyperconnected world in which the IoT and 5G networking will massively increase efficiency and enable radically different business models. But this also opens up organizations to new attack surfaces and raises privacy concerns — demanding a shift to new, data-centric security models such as zero trust.
7. Strengthen the cyber security ecosystem
Organizations are now part of a complex ecosystem of suppliers and partners, tied together through shared data and shared services. Conventional contracts and liability models seem ill-suited to the rapidly evolving supply chain threat, calling for a new partnership approach that brings security to all parties and individuals.
The actions were developed following extensive dialogue with senior cyber security leaders across the world, which identified universal opportunities and challenges facing the IT and digital functions within leading companies.
At the heart of KPMG’s recommendations is a recognition at C-suite level that digital security experts should be key players in the overall decision making processes, guiding the future direction of the business, developing robust digital infrastructure, embracing innovation and helping to identify potentially critical threats ahead.
Fred Rica, Principal, Cyber Services, KPMG in the US, said:
“Organizations have made incredible strides in remote working and collaboration for employees, as well as improving digital customer experience. But this has also reminded us that physical perimeters no longer exist. With increasing reliance on third parties, and the proliferation of Internet of Things (IoT) and other devices, cyber security now involves complex ecosystems with a dramatically increased threat potential.
“In a marketplace where speed to market is essential, cyber security teams are now responsible for building trust and resilience, by forging a pragmatic security culture and helping embed secure by design thinking into every aspect of digital infrastructure and data. To do this, they must see themselves as enablers and facilitators, helping others deliver services and brands that deserve cyber trust amongst customers, employees and society at large.”
The full report can be read at: https://home.kpmg/xx/en/home/insights/2021/07/cyber-trust-securing-the-future.html
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
For media queries, please contact:
Brian O’Neill, Senior Manager, Global External Communications
T: +44 7823 668 689
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Celltrion Awarded up to $626 Million From the Department of Defense to Supply COVID-19 Point-of-Care (POC) Rapid Antigen Test Kits23.9.2021 09:00:00 CEST | Press release
Celltrion (KRX:068270) announced today that the Defense Logistics Agency (DLA) under the Department of Defense has awarded Celltrion USA, Inc., a subsidiary company of Celltrion, a procurement contract for its DiaTrustTM COVID-19 Ag Rapid Test. Celltrion USA will make deliveries to approximately 25,000 U.S. CONUS locations to support military bases, long-term care facilities, community testing sites, critical infrastructure, and other designated places on a weekly basis. The DLA estimates its order volume to be as much as $626 million considering the change in demand by the COVID-19 community transmission rate in the U.S. Celltrion believes that this procurement contract underscores Celltrion's quality, production and supply capabilities as the deal has been awarded after the Department of Defense’s rigorous verification. Celltrion has already proven the quality and safety of DiaTrustTM earlier this year as the product obtained Emergency Use Authorization (EUA) from the US Food and Dru
Temenos, Vodeno and Aion Bank Announce Strategic Collaboration to Accelerate the Adoption of Banking as a Service in Europe23.9.2021 08:30:00 CEST | Press release
Temenos (SIX: TEMN), the banking software company, Vodeno, a fully cloud-native BaaS provider and Aion Bank, a European licensed digital bank and credit institution, today announced a strategic collaboration to accelerate Banking as a Service (BaaS) deployment in Europe. The first banking services to be launched combine The Temenos Banking Cloud with Vodeno's card management and payment processing services. This will enable banks and businesses across industries to broaden their portfolio of products offered to their customers by automating and embedding new payments and card services seamlessly in their customer journey. The collaboration across all three parties removes the complexities and regulatory overheads of deploying embedded financial services in Europe. Clients will benefit from faster time to market and the business agility to develop new customer propositions. Temenos and Vodeno are already engaged in several proof of concepts with banks and fintechs across Europe. The Tem
The Guide to Unlocking E-Commerce Growth in Markets Across Africa, Asia, Latin America, and the Middle East23.9.2021 07:00:00 CEST | Press release
dLocal, a technology-first payments platform that enables global enterprise merchants to connect with billions of consumers in emerging markets, in partnership with Americas Market Intelligence (AMI), released today an exclusive industry report to fix the lack of trustworthy data about eCommerce in core and high-potential emerging markets. The countries covered are Egypt, Morocco, Nigeria, and South Africa in Africa; India in Asia; Argentina, Brazil, Chile, Colombia, Mexico, Paraguay, Peru, and Uruguay in Latin America; and Turkey in the Middle East. Here are some of the report highlights: In 2020, the 14 core emerging markets added up to US$350 billion in processed payments The total pay-outs made from merchants to individuals in 2020 was equivalent to US$812 billion Local payment methods represent 83% of total eCommerce expenditure in the 14 core markets Although the global economy contracted by 3.5% in 2020, eCommerce growth remained positive, averaging 27% YoY among the 14 core mar
Galderma Announces Exclusive Agreement With Sofregen to Develop the Next Generation of Biostimulator Fillers Using Silk-Based Technology23.9.2021 07:00:00 CEST | Press release
Galderma, the world’s largest independent dermatology company, and Sofregen Medical, Inc., a medical device company pioneering the use of silk protein for tissue building and regeneration, announced today they have signed a co-development and option-to-acquire agreement. This collaboration will further expand Galderma’s capabilities built on decades of science-based aesthetics innovation and a unique heritage in biostimulator and hyaluronic acid (HA) fillers. The novel platform harnesses the unique power of silk protein to enable immediate volume restoration and provide structure that facilitates new tissue generation. “At Galderma, we’re committed to advancing dermatology through constant innovation and joining forces with other industry pioneers. Combining Galderma’s capabilities and scale with Sofregen’s novel silk platform represents a watershed moment for the aesthetics market through the development of a new category of biostimulator fillers designed to make an impact for healthc
EngageSmart Announces Pricing of Initial Public Offering23.9.2021 02:48:00 CEST | Press release
EngageSmart, Inc., a leading provider of vertically-tailored customer engagement software and integrated payments solutions, today announced the pricing of its initial public offering of 14,550,000 shares of its common stock at a price of $26.00 per share. Of the offered shares, 13,000,000 shares are being offered by EngageSmart and 1,550,000 shares are being offered by certain of EngageSmart’s existing stockholders. In addition, the underwriters will have a 30-day option to purchase from EngageSmart and the selling stockholders up to an additional 2,182,500 shares of their common stock at the initial public offering price, less underwriting discounts and commissions. EngageSmart will not receive any proceeds from the sale of shares of common stock by the selling stockholders. The shares are expected to begin trading on the New York Stock Exchange on Thursday, September 23, 2021, under the ticker symbol “ESMT.” The offering is expected to close on September 27, 2021, subject to customa
InvestaX Gets Closer to Tokenizing the World with MAS Fintech Sandbox23.9.2021 02:00:00 CEST | Press release
InvestaX (IC SG Pte Ltd) launches exchange in the Monetary Authority of Singapore (MAS) sandbox, providing key infrastructure for bringing liquidity to digital securities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005600/en/ Next Generation Digital Assets (Photo: Business Wire) InvestaX is a Singapore-headquartered, MAS-licensed* online investment and trading platform for Digital Securities (DSO) and Security Tokens (STO) of global private markets deals, focusing on exciting growth industries including crypto, gaming, blockchain, digital assets, venture, private equity and real estate. InvestaX, announces entry in the sandbox for its exchange, and now provides a one-stop shop solution for the issuance and trading of digital securities, for global products and global investors. Targeting the $8T USD tokenization of the private markets, InvestaX is built with open infrastructure for scalability and interoperability,
AWS to Open Data Centers in New Zealand23.9.2021 00:52:00 CEST | Press release
Today, Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), announced plans to open an infrastructure region in Aotearoa New Zealand in 2024. The new AWS Asia Pacific (Auckland) Region will consist of three Availability Zones (AZs) and join the existing 81 Availability Zones across 25 geographic AWS Regions at launch. The Region will be owned and operated by a local AWS entity in New Zealand. Globally, AWS has announced plans for 24 more Availability Zones and eight more AWS Regions in Australia, India, Indonesia, Israel, Spain, Switzerland, the United Arab Emirates, and the new AWS Region in New Zealand. The new AWS Asia Pacific (Auckland) Region will enable even more developers, startups, and enterprises as well as government, education, and nonprofit organizations to run their applications and serve end users from data centers located in New Zealand, ensuring that customers who want to keep their data in New Zealand are able to do so. AWS also released an economic
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom