Management Support Systems Model for Incident Resolution in FinTech based on Business Intelligence (original) (raw)

Impact of business intelligence on incident management in the control center of a security company

The main objective of this article is to implement business intelligence (BI) technology to improve incident management in the control center of a security company; making use of the Ralph Kimball method for the development of the data mart, contemplating the phases: planning of projects, definition of requirements, design of technological architecture, performing a dimensional modeling a star with 9 dimensions and 1 table made, also used the structured query language (MySQL) database, extract, transform, and load (ETL). Development the pentaho data integration, which allowed the migration, transformation and cleaning of the data from the online transaction processing (OLTP) and online analytical processing (OLAP) database, obtaining as a result that the BI managed to increase the level of the service by 28.42% and reducing the frequency index by 25%.

Methodology for Business Intelligence Solutions in Internet Banking Companies

International Journal on Advanced Science, Engineering and Information Technology

Business intelligence in the banking industry has been studied extensively in the last decade; however, business executives still do not perceive efficiency in the decision-making process since the management and treatment of information are very timeconsuming for the deliverer, generating costs in the process. On the other hand, there is no formal methodology for developing business intelligence solutions in this sector. This work aims to optimize decision-making in a business unit that works with internet banking companies, reducing the time, the number of people, and the costs involved in decision-making. To meet the objective, basic and applied research was conducted. The basic research allowed the construction of a new methodology from a study of critical success factors and approaches from the business intelligence literature. The applied research involved the implementation of a business intelligence solution applying the new methodology in a pre-experimental study. Thirty decision-making processes were analyzed using pre-test and post-test data. Tools such as a stopwatch and observation were used to collect and record data on time spent, the number of people, and the decision-making costs. This information was processed in the specialized Minitab18 statistical software, which allowed the observation and confirmation of relevant results regarding time reduction, the number of people, and the costs generated. Therefore, it was concluded that the business intelligence solution, applying the new methodology, optimized decision making in the business unit that works with internet banking for companies.

Risk Mitigation and Monitoring Strategies for Financial Information Systems

Journal of Information Engineering and Applications, 2014

Risk is a concept that denotes a potential negative impact to an asset or some characteristic of value that may arise from some present process or future event. In everyday usage, risk is often used synonymously with the probability of a known loss. Risk management can be defined as the human activity which integrates recognition of risk, risk assessment, developing strategies to manage it and mitigation of risk using managerial resources. The strategies include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk and accepting some or all of the consequences of a particular risk. The objective of risk management is to reduce different risks related to a pre-selected domain to a level accepted by society. Risk management is the process that allows managers to balance the operational and economic costs of protective measures and achieve gains in mission capability by protecting the Information systems and data that support their institution' missions. This process is not unique to the IT environment; indeed it pervades decision-making in all areas of our daily lives. The head of an organizational unit must ensure that the organization has the capabilities needed to accomplish its mission. These mission owners must determine the security capabilities that their Information systems must have to provide the desired level of mission support in the face of real-world threats. A well-structured risk management methodology, when used effectively, can help management identify appropriate controls for providing the mission-essential security capabilities. This paper explores various strategies and options for mitigating and monitoring risks facing financial information systems in performing risk management of financial information systems in order to minimize the losses incurred when faced by the various risks.

Advanced Platform For Corporate Incident Detection And Management

2004

Today companies are faced with a growing number of threats which undermine the integrity of their own business and information. Most threats arise from the heavy dependence of services upon information technology and the high flexibility of IT infrastructures which poses problems in terms of potential misuse. Information leakage is one of the most sensitive instances of corporate incidents entailing a criminal intention. Nevertheless, other causes can be ascribed to an inadequate protection of critical information, i.e. a lack of policy enforcement or poor classification system. The end goal is to achieve an information infrastructure that ensures the availability of critical information while guaranteeing its integrity through a suitable Information Lifecycle Management strategy. However, such policies heavily rely on technological infrastructures and need to be supported by ad hoc tools. Hence, since it is not always possible to ensure accurate operations on the entire infrastruct...

Information Security Incident Response Management in an Ethiopian Bank: A Gap Analysis Completed Research Paper

Banks facilitate spending and investment, which fuel growth in the economy, however, despite their important role in economy, banks are nevertheless susceptible to failure. Banks, like any other business, can go bankrupt. But unlike most other businesses, the failure of banks, especially very large ones, can have far-reaching implications. Ethiopian Banks continually increase their dependence on IT systems. The advancement of technology and an increasing use of IT solutions exposed banks for attacks more than ever. Even though, banks are deploying prevention mechanisms to keep out hackers and attempts of cyber-attacks, incidents occur occasionally. This tells there is a need for an effective and efficient management of information security incidents. International standards and guidelines for incident management exist but, researches that assess current practices are few in literature. This research conducted as a qualitative case study in which current practice of a bank's information security incident response management assessed with the aim to identify gaps from the best practice. The data was collected through interview. The finding revealed that bank x don't have a predefined and separate information security incident management plan. But, to some extent it was compliant with international standards and guidelines in some of incident handling procedures. An alarming finding that indicated bank x never performed rehearsal was highlighted in this study. Lack of employees' awareness, information gap among departments, lack of experienced and skilled incident handlers and enhancement of new threats were among prominent challenges identified. Finally, recommendation for successful information security incident management was proposed. Keywords Information security incident, information security incident management, incident response team

Incident Management System

SpringerReference

This dissertation for a bachelor project in computer science at Karlstad University will describe how to conquer a challenge suggested by Tieto: How to create a secure Incident Reporting System with a high level of confidentiality and security for the contents. The system should be easy to use and encourage incident reporting, open for changes and statistics gathering, for those with the relevant authority. The result will be a requirement specification and a prototype incident management system that matches those requirements. Any employee of Tieto will be able to submit an incident report and the system will notify a security administrator at Tieto who will solve the problem. The system will be able to gather information and statistics regarding incidents which can be used as decision support.

Sense & response service architecture (SARESA): an approach towards a real-time business intelligence solution and its use for a fraud detection application

International Workshop on Data Warehousing and OLAP, 2005

The dynamic business environment of many organizations require massive monitoring of their processes in real-time in order to proactively respond to exceptional situations and to take advantage of time-sensitive business opportunities. The ability to sense and interpret events about a changing business environment requires an event-driven IT infrastructure for pwerforming fast and well-informed decisions and putting them into action. However, traditional Business Intelligence (BI) and Data Warehousing technologies do not directly address time sensitive monitoring and analytical requirements. We introduce an enhanced BI architecture that covers the complete process to sense, interpret, predict, automate and respond to business environments and thereby aims to decrease the reaction time needed for business decisions. We propose an event-driven IT infrastructure to operate BI applications which enable real-time analytics across corporate business processes, notifies the business of actionable recommendations or automatically triggers business operations, and effectively closing the gap between Business Intelligence systems and business processes. A scenario from the area of mobile phone fraud detection was chosen for building a prototype that illustrates the proposed approach by using current available IT technologies.

An Incident Management System for Debt Collection in Virtual Banking

International Journal of Advanced Computer Science and Applications, 2016

An astonishing peak volume of bad loans in most countries, including Iran, is one of the latest manifestations of deep disorders which inhibited banking system from performing its main duty to promote development plans over a long period. Main mission of banking system is to link savers and those economic actors who need financial facilities. Banks, as intermediaries, receive interest from the second group and pay interest to the first group. During the last 10 years, millions of people have been controlling their financial lives online in the developed markets. Counters of access to electronic money and electronic wallet have increased currently. Bad loans increase as more facilities are provided for customers. Therefore, a mechanism is required for debt collection without any need for physical bank and improvement of this process using incident management system.

Creating Value Added for an Enterprise by Managing Information Security Incidents

System Safety: Human - Technical Facility - Environment, 2019

This article presents the structure and analysis of information security incidents in a production company in 2015-2017. The purpose of the analysis is to identify incidental events and their frequencies. The analysis includes the occurrence of notifications, threatening events, employee errors and false alarms. The conducted research includes also the procedure for handling the incident in the enterprise. The enterprises very often avoid informing their contractors about the occurrence of incidents. Thanks to the analysis of incidents and a clearly defined action plan, the examined enterprise tested the incidents and actions taken with them as a method of creating the added value of the enterprise during the period under consideration. The conducted research has shown that contractors who are aware of preventive actions taken, as well as those affecting information security even after the occurrence of an incident, are more willing to provide trust and even support to the surveyed ...