Trust and Transparency in the Era of 'Bring Your Own Device'

Westlaw Journal
10 minute read | April.10.2014

Information, including proprietary business information and personally identifiable information, is one of a financial institution’s most precious assets, and protecting this asset is necessary to establishing and maintaining long-standing relationships between a financial institution and its customers. Moreover, the reputation and success of a financial institution are linked to its management and protection of sensitive information. The increasing prevalence of the BYOD trend — “bring your own device,” in which employees use their personal mobile devices for work purposes — has drastically changed the rules of engagement when it comes to protecting a financial institution’s information assets.1

Employees are undeniably using their personal mobile devices to access company data and systems, whether or not expressly permitted or regulated by the institution’s corporate policies. These employees are simultaneously demanding greater flexibility and formal approval to use their mobile devices for work purposes. It is important that financial institutions take proactive steps to protect their information systems with the buy-in and support of their employees. Employees, however, are wary of allowing employers access and, in some cases, control over their personal mobile devices.

Originally published in Westlaw Journal Computer & Internet; reposted with permission.