Online Security Solutions in the Financial Industry based on a Commercial Risk Assessment Matrix
Jorge Marx Gómez, Stephan Paxmann · Journal of Information Privacy and Security · 2006
The selection process for specific Online Security solutions is often based in practice on either technological security requirements or business driven security requests. The prime focus for such a selection however must be based on its optimum risk mitigation factor, which is a combination of multiple risk areas like technology, legal and commercial factors. A combined Risk Assessment Matrix therefore will significantly improve the selection process of a commercially viable security solution, as it will take all risk areas into Account and makes them comparable. The key success factor to such a commercial risk assessment matrix is the combination of the different and often diverging risk mitigations and a standardized approach to their assessments.