In addition, Chase upgraded security, adding a new set of firewalls and monitoring and failure detection systems. Chase's efforts to build secure e-business haven't focused just inside the bank. In fact, industry experts say, one of Chase's most important claims to e-business leadership is an industrywide security initiative that the bank is leading. Called Identrus, it's an effort to establish standards for identifying and authenticating prospective B2B e-commerce trading partners on the Web. The guidelines are still under development, but Avivah Litan, an analyst at Gartner Group Inc., in Stamford, Conn., said that when they're released next year, Chase will assume a lead role in their adoption across the financial services industry.
Security is hard and ugly work, but it's important.
Chase has done a good job with this so far, and that can only bode well for the future. Their name will be synonymous with security and in the world of e-business. And that's definitely not bad for customer acquisition and trust. Not bad at all when you consider Chase's image just a year ago as an e-business lightweight. Of course, leaders at Chase know, perhaps better than anyone, that you can't afford to relax and slow the pace of e-business innovation.