Why Website Security
Online security is a critical issue for all financial institutions. This risk extends to every ADI’s public website.
Vermilian is the largest supplier of integrated online services to Australian mutual ADIs. We currently support approximately 40 clients serving over 700,000 customers across several hundred websites, minisites and intranets through our comprehensive eBusiness Service. We also support another equivalent number of ADI clients through a range of smaller-scale online deployments.
This scale of experience gives us a solid understanding of the issues associated with the security and hosting of banking websites.
Previously, public website security for ADIs may have been considered to be less important than that of Internet Banking. But this is not the case, with increasing numbers of sophisticated and organised criminals conducting detailed and systematic attacks on public financial websites.
Moreover, while Internet Banking systems can be protected with mechanisms such as passwords, encryption and multi-factor authentication, public websites are, by their nature, more exposed because of the need to balance security with user access. And of increasing significance is the growing range of interactive tools being deployed on modern websites. These provide more potential avenues of attack and increase the overall risk profile of public websites.
Vermilian applies extensive information management security practices to all supported websites.