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.”
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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.
