FROM THE CEO
Jack L . Kopnisky
President & CEO Sterling National Bank
Thanks for reading the Summer issue of Connect . We hope you ’ re enjoying our new look . This issue is focused on technology and the Internet of Things , the phenomena of physical devices that ’ s changing the way you do business here in the Hudson Valley , New York metro , and across the world .
The Internet of Things ( IoT ) extends beyond the consumer ’ s connected devices . This surge of connected devices affects the way we develop products . It affects business models . It enables companies to prototype quickly and respond to customer communications . Learn about strategies for implementing new technology in your business on page 7 .
While this new technology is vital for business development , it also can be a data security risk , which is a serious concern in our tech age . Read about how data security should be every employee ’ s concern on page 6 .
Just as technology can help make business practices more efficient , reliable , and speedy , it ’ s also important to be aware of the effects of technology on our human interactions and wellbeing . Read about how business owners can maintain a human-centered focus in our feature on page 16 .
Lastly , tune in to how local business owners are making technology work in their companies on page 11 .
How is tech affecting your business or industry ? We want to know — Share how you are embracing technology with your relationship manager at Sterling National Bank .
Sincerely ,
Tech Q & A with Jason Vazquez , Deputy Chief Risk Officer at Sterling
Q : What challenges do you encounter in your role at Sterling National Bank as the first line of defense against theft and other tech risk issues ? A : I encounter tech and security challenges regularly , many of which are of similar concern to all banks and across all service industries . Aside from the headline-grabbing cyber risks , other challenges include the increasing expansion of customer and employee touch-points . The expectations are high to rapidly expand digital banking with real-time processing and analysis . Clients and our teams must make decisions in real time , so we have to ensure such processes are balanced against risks of security breaches , malware attacks , and loss or theft of client data .
Q : How does Sterling ’ s investment in technology security benefit clients ? A : Our monitoring capabilities allow us to quickly flag multiple security concerns in a single transaction and detect and alert our tellers and clients about potential fraudulent transactions . Using tech to reduce risk also translates into cost reduction and efficiency with less investigative time after-the-fact .
Q : What are some of the most significant changes related to tech , risk , and security you ’ ve experienced in the past five years ? A : The pace of change is the most significant , followed by the expectation that our banking services are available across the planet . Phone calls have turned into emails , text messages , and chat sessions . Tape and disc storage has moved to the cloud . Cash and checks are rare compared with credit and debit cards , and the use of an iPhone for ApplePay . Each of these have become “ business-asusual ” for the client , but the back office processes have changed dramatically and required new paradigm shifts for managing risk and security .
Q : What strategies or takeaways can you share with small business owners who also face the challenge of tech security ? A : Partner wisely . Work with those business-tobusiness specialists that understand the complexity of managing information securely because the best defense is a great offense . Sterling is committed to being that kind of savvy partner .
4 | SNB . COM // CONNECT TECHNOLOGY SUMMER 2015