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Story: Banks 'must try harder' on ID theft

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Posted by: PRAVEEN DALAL (Tuesday 5 July 2005, 6:09 PM)

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INSURE DATA

The business expansion scope for banking and insurance sectors is tremendous if the information technology is harassed properly, keeping in mind various technological and legal requirements. This presupposes the seeking of appropriate professional and expert advise so that a technological base conducive for profit making can be established in due course of time. A business venture, which has established a timely technological base, has the advantage of capturing the customer base, which is untouched and is waiting to be explored. Further, no arrangement is absolutely trouble free; hence early establishment of a technological base will give time to fill in the vacuum and the lacuna, which may remain despite best efforts. Every new effort and venture requires time, efforts, energy and resources to make it workable and profitable. To acquire expertise in “internet banking” and “cyber insurance business”, the top management has to adopt timely innovative legal and technological methods. Thus, it can be concluded that the sooner it is adopted, the better it will for the business ventures in general and their customers in particular.

See http://perry4law.blogspot.com/2005/06/insuring-data-property_111831618809117833.html and

http://perry4law.blogspot.com/2005/06/compulsive-mandates-of-electronic-era.html

for more details.

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