Unprecedented Opportunities and Vulnerabilities

Posted: September 25th, 2016

By Michael Orozco

Michael Orozco is a Managing Director in Accenture Strategy Security and the global Cybersecurity and Risk Management Lead for Accenture Financial Services. He has more than 25 years of experience in cyber risk mitigation, financial crimes, and regulatory compliance, and has worked extensively across the United States, Eastern and Western Europe, and Latin America.

Cyber threats pose a challenge to banks and firms operating in the financial sector, primarily due to the fact that “vulnerability really exists everywhere,” both on the technological side and the business side, says Michael Orozco, Managing Director in Accenture Strategy Security. To help improve security in the financial sector, “security really needs to be part of the product development as the application is going through its ideation phase,” explains Orozco in an interview with The Cipher Brief.

The Cipher Brief: Your recent report noted that banks are stuck in a pretty tough spot. Their users want things to be easy to access, but they also want them to be secure, and you can’t have both realistically. So how can banks better navigate between these two goals and find a middle ground that will help satisfy their customers without making their data vulnerable?

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