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Goldman Sachs has joined Trusted Computing Group (TCG) as the not-for-profit turns its attention to fintech security.
TCG works to develop, define and promote open, vendor-neutral, global industry specifications and standards, supportive of a hardware-based root of trust, for interoperable trusted computing platforms.
The group has now set its sights on fintech, citing the rapid adoption of mobile payments, which it says is fast becoming a new area of concern for security experts.
TCG’s move into fintech is boosted by Goldman’s membership. The Wall Street giant will help shape the organisation’s approach to financial service cybersecurity.
Michael Mattioli, principal engineer, hardware engineering, Goldman Sachs, says: “The biggest challenges we have at the moment when it comes to securing the financial services industry are the legacy systems at play and the lack of communication on how enterprises can adopt new technologies in a manner that is protected against an attack.
“Having joined TCG, we look forward to working closely with other experts on developing protections for fintech, which can be standardised and implemented by financial services institutions around the world.”
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