Banks learn to accept BYOD

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Banks, like many businesses, are finding themselves modifying their approach to BYOD as the benefits begin to appear to outweigh the risks. Although IT leaders and other executives still have security concerns, they've become more likely over the past couple of years to accept employee-owned devices because of their potential to improve efficiency and innovation, reports Olivia LaBarre at Bank Systems & Technology.

Bank of America is an example of the financial institutions moving toward BYOD, even though an official policy governing use of employee-owned devices is not in place companywide, according to Cathy Bessant, head of global technology and operations at BofA. Employees using their own devices at work have to install firewalls that separate access to company and personal data. 

At Needham Bank in Massachusetts and America First Credit Union in Ogden, Utah, some employees have been given iPads, and others, who do not qualify for a company-owned iPad, are allowed to use their own. To address security concerns, Needham Bank uses mobile device management technology from MobileIron on bank-owned devices, and it requires that firmware be kept current on employee-owned devices.

At America First, the policy on iPads has helped in recruiting efforts, said Thayne Shaffer, vice president of finance at the credit union. What's more, there is the potential for increased productivity as employees locate apps that suit the needs of their own jobs.

Pressure to accept BYOD is coming from two main sources in the financial world: senior executives and millennials, according to Gary Curtis, chief technology strategist at Accenture. It's not at all uncommon for CIOs to get a call from the CEO who is eager to test out the latest gadget himself, Curtis said.

For more:
- see Olivia LaBarre's article at Bank Systems & Technology

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