How a CISO can impress the board
A CISO can shine in 2016 by bringing new and innovative ideas into the boardroom with them. Check out our round-up of top tips:
Wieland Alge, VP & GM EMEA, Barracuda Networks
“For a CISO to make an impact in the boardroom, they should sell themselves as ‘The Cloud Enabler’ – both proactively supporting the usage of cloud-based applications and guiding the way to a smooth, secure migration.
“Business leaders are now well aware of the operational benefits of migrating to cloud-based applications and are eager to embrace new ways of working in a mobile, flexible and user-centric environment. While applications such as Office 365 provide a number of benefits, security concerns continue to act as barrier to their adoption. The keystone of this process will be to replace old firewalls with true next generation devices that can deliver both comprehensive, in-depth security and enhanced application performance in the cloud environment.”
Richard Beck, Head of Cyber Security at QA:
“Every CISO is potentially one data breach away from being fired. Putting in place clearly defined plans and rules should help protect the organisation from cyber attacks. A key element of this plan should be to ensure that all staff, at whatever level, receive cyber security training – above the basic hygiene level. Why? In almost all reported security incidents, the actions - either intentional or accidental – were by staff in the compromised organisations, which led to the security breach in the first place.”
Perry Correll, Principal Technologist at Xirrus Networks:
“It is hard to believe that there are so few public Wi-Fi networks capable of serving our needs outside of the home securely—particularly when you consider that as of today, nearly everyone owns a smart phone, 91% use a laptop, and 80% have a tablet.
“Public Wi-Fi offers the convenience of accessibility, but typically doesn’t encrypt data, leaving passwords exposed and sensitive data vulnerable to the possibility of capture by those with malicious intentions.
“It’s bad enough worrying that while sipping a latte, cyber criminals might be trying to steal your credit card data and bank account numbers, but even more daunting to know that corporate espionage is on the rise. Public Wi-Fi networks offer hackers little challenge when it comes to intercepting private or classified information accessed by executives who stay in hotels on business.
"Now more than ever, large and small enterprises must upgrade their networks to provide better security for their customers."
Mambu and the UAE’s digital banking journey
Miljan Stamenkovic enjoys the dynamic and constantly evolving world of fintech banking. In his current role as General Manager for MENA for Mambu, Stamenkovic sees opportunity in abundance.
“When I joined Mambu with my team in 2019, we came with the fintech, entrepreneurial mindset and DNA to build and grow Mambu’s business in the MENA (Middle East and North Africa) region. Before 2019, the region used to remind me of a desert, at least in terms of cloud service providers and cloud adoption. But this past year has been a wave of progress.” In November 2020, Mambu opened a new office in Abu Dhabi Global Market, as the region has quickly become a key market for Mambu.
He explains, “There are data protection laws. There are cybersecurity regulations and most importantly, a variety of major tier one cloud service providers that are available. But what particularly excites me here at Mambu is the opportunity to rethink business models together with our clients and really bring them to life. This is where I saw a great fit with Mambu and its composable philosophy.”
Creating a neobank and challenger bank ecosystem has been his ultimate goal. “In my opinion, this actually creates a unique opportunity to partner with some of the best fintechs in the region and build the region’s first and true challenger and neobanks.”
Stamenkovic credits Mambu’s partnership with Banque Saudi Fransi (BSF) for the success that has driven the bank forward in the region. “When I think about all the challenger and neobanks that have grown massively over the past decade,there is one common denominator for all these new initiatives. I would say they really operate like a tech company rather than a bank. - BSF is leading this approach in Saudi Arabia.”
He continues, “This brings a competitive advantage for tech companies. These platforms are each managed individually but can be swapped in and out. And when put together, they actually form the backbone of a company's technology capability. This is why tech companies and banks like BSF actually can get products to the market a hundred times faster than their more incumbent peers.”
The implementation, he stresses, is an evolving process, where each component is trialled and checked and swapped in and out according to its effectiveness. But it’s down to the dynamism of the team on the project to initiate these changes. “As critical as technology is to digital transformation, the DNA of people working on these initiatives is the key to success. At BSF they have a true startup and entrepreneurial mentality.”
He explains that Mambu is helping BSF deliver an entire new banking experience while providing soft core banking services hosted, in this case in Saudi Arabia. “Mambu sits at the heart of BSF's new challenger bank and its technology stack. So, this actually enables BSF to take an entirely cloud native approach, having Mambu at the centre of its ‘Digital Engine’.”
Stamenkovic points out, “Mambu enables banking like a modern tech company. Banks used to be built to last, but today they need to be built to change. And that's what we're enabling here.”