From SECURITY to TRUST

Just having strong security systems is not enough. Such systems should also create a strong trust among the users:

The year 2020 with the onset of covid brought with it a host of sudden changes many of which are likely to stay onboard as the ‘new normal’. The World Bank’s latest Economic Outlook from the OECD shows how covid’s impact has been both widespread and devastating across sectors and countries. From business owners facing supply chain disruptions, liquidly crunch to salaried individuals facing the harsh reality of a sudden red slip, the times are both uncertain and challenging. To ride the tide, enterprises, especially in the financial sector, are embracing a new digital normal that can help them minimize any likely losses and continue operations balancing security, safety and technology.

The silver lining amid the dark pandemic clouds has been the role of technology. The digital ecosystem has emerged as the ‘new normal’ especially in the financial world. For example, there has been a massive increase in uptake of Microsoft’s low code Power Platform aimed at enabling rapid development. Likewise, Microsoft Learn, a platform to acquire, update, and certify Microsoft skills, has witnessed a 25% increase in the number of users post covid lockdown. The stats are similar for other software and cloud service providers underlining the digital disruption as the new norm. KuppingerCole Analysts, one of Europe’s leading analysts on information security in the era of digital transformation, traces how even some of the most conservative organizations are now adopting a ‘cloud-first’ strategy without bothering about any time-consuming proof of concept trials. So, while COVID is endangering lives and scarring livelihoods, it is also opening up avenues for a tech-enabled resurgence remapping the ‘new normal’ for the future.