Companies neglect infor-mation and communication technology (ICT) security in their overall ICT budgets, says BMI-TechKnowledge banking division principal analyst Althea Bacchialoni.

Only about 4% to 5% of a company’s budget is allocated for ICT, says Bacchialoni, adding that this is too little.

“Because security is such an undervalued part of the ICT sector, information technology staff are left to assume what to do when the company they work for has a security breach or when something goes wrong,” she adds.

Further, she notes that mobile banking and mobile commerce are much needed in today’s society as people are constantly on the move and regularly need to gain access to email, information and money, remarking that clients require both security and usability from devices and from banks.

To subscribe to Engineering News's print magazine email subscriptions@creamermedia.co.za or buy now.