To listen to what some people inside and out of government are saying, the banking system has huge security problems because so many banking platforms come from the same couple of vendors. If an attacker knows the holes in these systems, goes the theory, they can attack any bank using them. So, they ask, wouldn't it be better to revert to the old days, when every bank had its own computer systems, and an attacker would have a new set of problems every time they decided to hack somebody?

Forget about it, says Ted Kochanski, president of Lexington, MA- based Sensors Signals Systems. "What standardization allows institutions to do is constantly adjust to the marketplace, because the vendors of these systems are constantly upgrading them, and, as this happens, the old holes are plugged up," he says. New holes appear, of course, he concedes; but computer security is a dynamic process, characterized by a constant give and take between the hackers on the inside and the hackers on the outside.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.