What we can learn about Technology Supply Chains from “the Travelex Complex”
It took just 2 days for the first major cyber-attack of 2020 to be reported. At time of writing, Travelex, the global foreign exchange company, is being held ransom by hackers, with its online services now taken offline for safety and internal processes resorting to pen and paper across many sites.
An issue seen before, but this time it’s highlighted another issue – technology supply chain resilience and our deepening reliance.
Travelex acts as a provider to high street names including Virgin Money and Sainsbury’s Bank, so this attack also impacts their service and puts their customer data at risk.
We expect the process of creating those relationships included technical requirements, but what’s in place to ensure policies, technology and operating procedures remain in-line with up-to-date threats and best practice modes of working?
Whether directly providing real-time services to other institution’s customers, or indirect, such as manufacturing parts for your products, supply chain IT issues can impact business at many levels.
So, two questions for you (in comments below – damn LinkedIn company post word count limits)?