Priority Initiatives
BITS focuses on areas that are most pressing to the financial services industry, such as emerging technologies, business strategies and risk management. Current priorities involve issues related to Information Security, Fraud Reduction, Vendor Management, and Regulation. Our results range from published business requirements to toolkits for best practices and voluntary guidelines in the priority subject areas. Our work serves strategic and tactical needs at the interface of commerce, technology and financial services.

The Security program strengthens the resiliency of financial services by anticipating and addressing industry-wide security issues and sharing best practices for securing infrastructures, products and services.

The Fraud program reduces fraud losses for member institutions by identifying emerging and evolving fraud trends and providing peer-to-peer networking opportunities for fraud professionals.

The Vendor Management program helps members manage risks, comply with regulatory requirements, and forestall additional regulatory requirements by raising awareness of vendor and outsourcing issues, including security and developing guidelines for risk management, contracting and oversight.

Within the Regulation program, members collaborate to develop and maintain strong, standing relationships with financial and non-financial regulators and to develop and share detailed analysis of regulatory and supervisory proposals and related industry efforts.

BITS’ initiatives are governed by a standing Roundtable Technology Committee of the Board of Directors of The Financial Services Roundtable, Chaired by Edward B. Rust, Jr., Chairman and Chief Executive Officer of State Farm Insurance Companies.