Trading on PCs Even though banks and their software providers strive to install impregnable security systems and generally succeed, despite the occasional case when someone's bank statement is displayed on-screen for all to see it is customer perception that is important. Now, security systems are as good as they could be, if implemented properly. Consumers need to be aware of this and take the necessary security and anti-virus precautions. Banks also have to help educate consumers. For established banks, graduating to internet and mobile banking while also integrating all the existing channels can bring the temptation to cut corners.
Hackers look out for that.
Companies have to compromise between time to market and the need for satisfactory testing. He thinks banks need to pay more attention to performance testing and benchmarking. Many of the problems faced by existing banks can be avoided by new internet banks, though some have had start-up problems as systems have been unable to cope with initial demand. At Cahoot, the online bank owned by Abbey National of the UK, the IT system was designed to be scaleable and cope with highly customised services. Graham Webster, Cahoot's head of IT, says customisation with account holders able to choose between different pricing and service options did make software design harder.