The number of smartphones being brought into financial services organizations will double over the coming year. However, many of these organizations have no mobile policy of any kind, according to a study of 400 IT professionals in financial services organizations — 17 percent of which were insurance companies.
Conducted by Ponemon Institute and sponsored by MobileIron, the research found that the accelerating mobile demands of business units and end users are “triggering a tidal wave of disruption” that is shifting financial services CIOs to a new model of enterprise IT. In the process, the study finds, “Mobile is presenting operational, governance, and time-to-market challenges that traditional IT approaches were not designed to address.”
Half of the respondents to the survey said they have no mobile policy of any kind. “Of those organizations that have a strategy, 24 percent have a strategy for e-mail and other business applications, 17 percent have a strategy for e-mail only, and 9 percent of respondents say it is for business applications other than e-mail,” the study finds.
Respondents said that inadequate funding, unreliability of smartphones and tablets, and concerns about security are preventing them from achieving the most effective mobile strategy possible.
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