Create and develop resources that will assist stakeholders in understanding and implementing best practices

The Institute for Development and Research in Banking Technology has entered into a memorandum of understanding with sector Information Technology governance body ISACA in order to jointly undertake initiatives in the areas of InformationTechnology Governance, Information Systems Audit and others. The two parties will also focus on activities in the information security and the information systems risk management space. The memorandum of understanding intends to create and develop resources that will assist stakeholders in understanding and implementing best practices in the above-cited areas, according to a press statement. “On one hand, banks have to ensure privacy of customer information. On the other, decision-making needs to be information-led. Hence information security assumes importance and provides competitive advantage as well. “Banks need to adopt international standards and best practices. This memorandum of understanding helps in disseminating standards, best practices and frameworks,” said MrB. Sambamurthy, Director, Institute for Development and Research in Banking.

Source: The Hindu Business Line