Redwood City, Calif. - When asked about the importance of securing data and the confidence in how well data is secured using encryption technology, there was a significant split among respondents to a recent survey conducted by Ingrian Networks Inc. Fifty-four percent of financial services IT executives agreed or strongly agreed that encrypting "data at rest" is a high priority for their organization, while 39% disagreed or strongly disagreed that it is a high priority."The financial services industry is at a crossroads when it comes to security in general and enterprise encryption strategies in particular," says Lane F. Cooper, director, InfoTech and author of the study.
"While a tremendous amount of effort is being expended by the financial services sector to protect communications and information resources through increasingly hardened perimeter security measures, the fact remains that most organizations are likely to experience a significant security incident in the foreseeable future. Encryption is the last line of defense should a major breach occur, and huge segments of the financial services sector are not well prepared to protect this data at rest. There is a growing realization in the industry that this needs to be addressed. The research conducted by InfoTech strongly suggests that we can expect to see encryption play a much larger role in the security mix of financial services organizations by the end of the decade."
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