Service Level Management (SLM)
Points to Better Security On-Line

press release

London, UK - 6th February 2001, 0830 GMT - On the day of the British Bankers' Association (BBA) conference on Service Level Agreements (SLA) in London, mi2g software has stated that due to the perpetual and escalating threat in online security, SLAs do not work on their own for financial institutions.

Online security needs to be addressed strategically through long term Service Level Management (SLM) directives at board level rather than piecemeal cost saving SLAs negotiated ad hoc by departmental heads.

"SLAs that achieve the short term goal of individual department heads can increase the security risk from penetration when they do not take into account the overall business strategy of the financial institution" said D K Matai, Managing Director, mi2g software."SLM is the combination of precise strategically placed levers that achieves a macro service level balance rather than a number of separately negotiated SLAs that can leave gaping holes in the organisation's defences as it negotiates strategic alliances."

When security fails within a major bank or financial services company, it is rarely just an outsourcing issue or the case that one SLA was incorrectly drafted. It is the lack of an adequate board level strategy for dealing with online security that produces the weakest link in the security chain.

"Online security is paramount for any organisation seeking to do business or offer services electronically. Expertly tailored SLAs and the management of such SLAs are important elements in ensuring the high level of IT system performance and security that the market requires" said Rafi Azim-Khan of McDermott Will & Emery`s eBusiness Group, who helped develop the conference programme for the BBA.

Unless SLM is developed at a strategic level for the business to manage the mission-critical applications that provide adequate levels of service to IT and business users, the enterprise will be looking to apportion blame through the SLAs as opposed to serving customers swiftly after a security crisis.

SLM and Bespoke Security Architecture are two valuable parts of eRisk Management that the boards of major financial institutions need to take into account when eEnabling their businesses securely.

Editor's Notes:

About the BBA Conference:

The BBA stands for the British Bankers' Association. This is a not-for-profit organisation, representing the banking industry in the UK. It is funded by subscriptions from member banks of which there are some 300 from and associate members from 60 different countries.

The BBA Conference on "Service Level Agreements" is scheduled for 6th February 2001 at Pinners Hall, 105-108 Old Broad Street, London, EC2 1EX. For further information please contact Marilyn Grey (marilyngrey@bba.org.uk). Direct Line: 020 7216 8813. The event will start at 9:30am and conclude at 3:30pm.

McDermott Will & Emery and mi2g software are speaking at the event for about 60 bankers.

About McDermott Will & Emery:

McDermott, Will & Emery is an international law firm with more than 900 attorneys in eleven offices worldwide. The firm has a full-service presence, which includes a team of over 80 e-business law specialists and an e-banking focus group with substantial expertise of issues such as PKI infrastructure, B2B and B2B trading as well as the raft of other IT contracting issues.

About mi2g (www.mi2g.com):

mi2g software works with financial services groups, both large and small, to change and eEnable their entire business. We automate our clients' business in such a way that they and their customers can use the World Wide Web both to increase their business volume and reduce their overall cost base. mi2g eBusiness Solutions Engineering pays particular regard to security and advises on the management of eRisk, which incorporates Bespoke Security Architecture. mi2g's clients are mainly from the banking, insurance and reinsurance sectors.

What is Bespoke Security Architecture?

Most organisations believe that a firewall is enough to secure their sites. Bespoke security architecture brings together firewall layers, intrusion detection and other defensive structures, as well as automated intelligence techniques with legal, human resource and company policies.

What is eRisk Management?

eRisk Management deals with a variety of issues. associated with implementing an eBusiness. integrating SLM. It includes selecting the optimum. technology set, managing external partners and. alliances, linking payments to targets, defining. rigorous quality control procedures, managing. the growth in online traffic post launch, achieving. the expected return on investment, and bringing. about the changes in the corporate culture. required for successful eBusiness.

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