A Holistic View: Internal MFT in the Financial Services Industry

John Wilson, Director of Solution Enablement – FSI, Axway

“When you think of setting up an SLA, and that causes you to cringe, that’s going to be a good indication that there’s areas for improvement. If you still have the memory of looking through all those audit logs for that lost file or trying to back out a duplicate file that was loaded…(if) those are still fresh in your mind, then these also may be good indicators as well. It’s a super competitive market. Any black mark to your reputation can cause devastation. Causes undue expenses, lost revenue, and even loss of customers.”

One Forward, One Back: Do You Know Where That’s Been?

Paul Lavery, Director – Solutions Enablement, Supply Chain, Axway

“After 9/11, there was a lot of government action to try to secure different facets of our country, and particularly our economy and industries. I think a lot of the initial regulations that came out were sort of ad hoc in nature, and didn’t necessary include the participation of some of the industry standards groups. So what we’ve noticed lately–I would say over the last three years–is that there’s been a bigger push or an alliance that’s forming between the federal agencies like the FTC or the FCC or even the energy regulation federal agency in conjunction with their counterparts in the industry association and industry standards groups. That’s evolving to a set of formats and standards that any of the companies that are in those industries have to adhere to. So what you’re not necessarily seeing are heavy mandates coming from the government, but what you’re starting to see is more voluntary standards that are being required by some of the biggest players in those industries.”