Relationships between Information Security Concerns and National Cultural Dimensions

2011 ◽  
pp. 134-153
Author(s):  
Princely Ifinedo
Keyword(s):  
Information Security ◽  
Financial Services ◽  
Cultural Dimensions ◽  
Future Research ◽  
Financial Services Industry ◽  
Current Effort ◽  
Corporate Managers ◽  
Security Issues ◽  
Services Industry ◽  
Security Concerns

This study investigates the relationships between the contextual factor of national culture and information security concerns in the global financial services industry (GFSI). Essentially, this study attempts to expand the breath of information provided in the recent 2009 Deloitte Touche Tohmatsu (DTT) survey, which reported such issues in the financial services industry. The inference from the 2009 DTT survey was that information security concerns across GFSI are being informed solely by industry-related standards or imperatives. As such, perceptions and attitudes towards such issues were thought to remain unchanged in differing contexts. Results from this study’s analysis showed that the perceptions of information security concerns in GFSI compared reasonably well, but also varied by some national cultural attributes to debunk such a claim. Corporate managers in the industry may benefit from this research’s findings as they formulate country-wide information security policies and strategies. As well, insights from this current effort indicate that it would be erroneous for practitioners to accept that entities in the financial services hold exactly the same view on information security issues in their industry. Future research avenues are discussed.

Socio-Economic Correlates of Information Security Threats and Controls in Global Financial Services Industry

2015 ◽  
Vol 7 (2) ◽  
pp. 54-70 ◽  
Author(s):  
Princely Ifinedo
Keyword(s):  
Information Security ◽  
Financial Services ◽  
Negative Impact ◽  
Tertiary Education ◽  
Financial Services Industry ◽  
Security Threats ◽  
National Wealth ◽  
Information Assets ◽  
Services Industry ◽  
Socio Economic Factors

Threats to data and information assets of Global Financial Services Industry (GFSI) are ever-present; such problems, if not well understood, could lead to huge negative impact. To some extent, the environment where a business operates does matter for its success. This study presents information about the relationships between selected socio-economic factors and information security threats and controls in the financial services industry. Essentially, it seeks to enrich the information provided in the 2012 Deloitte Touche Tohmatsu Limited (DTTL) survey that dealt with about security threats in the industry. This study's findings indicated that contextual factors, such as national wealth, transparency levels, staff training, tertiary education enrolment, and buyer sophistication, do have positive associations with some information security threats and controls. Practitioners and academicians can benefit from this study's insights.

scholarly journals Disclosure effectiveness in the financial planning industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Daniel W. Richards ◽  
Maryam Safari
Keyword(s):  
Financial Planning ◽  
Financial Services ◽  
Conflicts Of Interest ◽  
Influential Factors ◽  
Future Research ◽  
Financial Services Industry ◽  
Content Type ◽  
Disclosure Requirements ◽  
Financial Planners ◽  
Services Industry

Purpose Scandals in the Australian financial services industry highlight the conflicts of interest between those who provide financial advice (financial planners) and their clients. Disclosure is a potential governance tool to manage these conflicts of interest by reducing asymmetries in information. Yet, the efficacy of disclosure is questionable as scandals persist, so this paper aims to research the effectiveness of disclosure in financial planning. Design/methodology/approach This research used a qualitative approach involving the triangulation of data from parliamentary inquiries in financial services with data collected in semi-structured interviews with financial planning professionals. Findings The findings draw a clear portrayal of the disclosure requirements and illustrate how disclosure processes are onerous and complex. Starting with detangling the complex interactions between the beneficial role of disclosure in reducing information asymmetry and unethical behaviour and the detrimental effect of information overload, the authors then highlight effective disclosure techniques used by financial planners, including visualisation of material information. The study reveals that financial planners perceive their role as filtering information for clients and ensuring clients’ comprehension, due to the onerous disclosure requirements. Research limitations/implications The study is of interest to researchers, practitioners, policymakers and society as it implies that how disclosure occurs is as important as what information is disclosed. Those who wish to foster effective disclosure in the financial services industry need to consider the quantity, quality and process of disclosure. A limitation is the research focusses on financial planning practices and not client outcomes, which could be considered in future research. Originality/value The study adds to the understanding of how disclosure is used as a governance tool and how the quantity of information may impede the effectiveness of disclosure in the financial planning industry. In addition, the study identifies and elaborates on the influential factors and best practices for enhancing the disclosure effectiveness by financial planners.

Intelligent matching: integrating efficiencies in the financial supply chain

2005 ◽  
Vol 10 (4) ◽  
pp. 244-248 ◽  
Author(s):  
Alea Fairchild
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Case Studies ◽  
Information Flow ◽  
Financial Services ◽  
Future Research ◽  
Financial Services Industry ◽  
Exploratory Research ◽  
Content Type ◽  
Services Industry

PurposeThe purpose of this paper is to develop a better understanding of supply chain management in the financial services industry by examining information flow in improving efficiencies (i.e. material, information, capital, etc.) via intelligent matching.Design/methodology/approachThe objective was to address the issues specific to financial services organizations in intelligent matching, examining organizational, technological and application aspects. In order to address these issues, we have utilized an exploratory research methodology, based on a literature review and some initial case studies.FindingsDrivers for intelligent matching solutions have been suggested in this research to include the ability to link financial matching activities to other supply chain activities. Further integration of business processes, both within and between enterprises, will require both human and computational intelligence to approach efficiencies in automation.Research limitations/implicationsSupply chain efficiencies enabled by financial products and information give organizations greater visibility over their receivables, working capital needs, and overall financial position. Limitations of this research include a small sampling of case studies; future research will include a wider scope of cases as to test the findings.Practical implicationsInteroperability of information between the physical movement of goods and financial information within supply chains is key to realizing cost‐reduction and revenue‐enhancement advantages.Originality/valueThis paper discusses a potential area for extending our understanding of supply chains and the role of information flow in improving efficiencies, especially in the financial services industry.

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