Prioritizing Security From the Outset: A Commitment From Software Providers
In today's interconnected world, software has become the backbone of most organizations' operations and technology delivery. As a global bank with a mission to serve thousands of customers, Santander understands the importance of software security. Any weakness in software can have far-reaching consequences across organizations, sectors, and countries.
Santander is advocating for higher software security standards across the industry, as part of a broader commitment to collective resilience. The bank's advocacy is not limited to its own operations but extends to the wider industry, recognising the interdependence of businesses in the digital age.
One of the key strategies Santander promotes is the concept of 'Security by Design'. This approach, which embeds security into every phase of the software development lifecycle, offers multiple benefits.
Firstly, it promotes cost efficiency. Identifying and fixing security flaws early during development is significantly cheaper than addressing them after deployment, reducing emergency patching, incident response, and breach remediation costs.
Secondly, it ensures regulatory compliance. Security by design helps ensure alignment with strict data protection laws and standards such as GDPR, HIPAA, NIST SSDF, ISO 27001, and PCI DSS, reducing legal risks and compliance burdens.
Thirdly, it enables proactive risk mitigation. Embedding security requirements from the start enables teams to systematically identify and mitigate vulnerabilities early, lowering the risk of security breaches and increasing software resilience.
Fourthly, it builds customer trust. Consumers and clients increasingly expect responsible data handling; demonstrating a strong security posture through secure design fosters trust and protects brand reputation.
Further benefits include scalability and adaptability, enhanced development practices, defined incident response, and competitive advantage.
Santander is not alone in its advocacy for software security. Governments, businesses, and technology providers each have distinct roles in improving software security, including embedding secure practices and fostering transparency and collaboration.
The UK's Software Security Code of Practice emphasizes the need for a shared priority in improving software security and resilience. This call for action is echoed in the latest global cybersecurity awareness campaign, which focuses on obvious passwords and spotting forms of phishing.
In line with its commitment to digital security, Santander offers digital security training at its Work Café branches. The bank encourages its customers to protect themselves when a phone is lost or stolen, as part of a broader effort to educate the public about cybersecurity best practices.
Recently, a call for action has been made against a $537 billion global "fraudemic" report, highlighting the urgent need for collective action to combat cyber threats. Santander, with its advocacy for software security standards, is playing a crucial role in this fight.
By embracing security by design, organizations can create software that is resilient, compliant, trustworthy, and cost-effective to maintain, ultimately contributing to a safer digital future for all.
- Santander, recognizing the significant impact of software security on their finance-driven industry, is advocating for the integration of 'Security by Design' concept across the wider tech sector, understanding that collective resilience is crucial in today's interconnected world where technology drives operations.
- In line with the UK's Software Security Code of Practice and the global cybersecurity awareness campaign, Santander actively promotes digital security education, offering training at its Work Café branches and encouraging customers to maintain cybersecurity best practices, essential steps in combating the $537 billion global "fraudemic" and ensuring a safer digital future for everyone.
