An empirical investigation into the information management systems at a South African financial institution

Abstract

The study has been triggered by the increase in information breaches in organisations. Organisations may have policies and procedures, strategies and systems in place in order to mitigate the risk of information breaches; however, data breaches are still on the rise. Governments across the world have or are putting in place laws around data protection which organisations have to align their process, strategies and systems to. The continuous and rapid emergence of new technology is making it even easier for information breaches to occur. In particular, the focus of this study is aimed at the information management systems in a selected financial institution in South Africa. Based on the objectives, this study: explored the shortfalls of information security on a South African financial institution; investigated whether data remains separate while privacy is ensured; investigated responsiveness of business processes on information management; investigated the capability of systems on information management; investigated the strategies formulated for information management and finally, investigated projects and programmes aimed at addressing information management. Quantitative, as well as qualitative analysis, was employed whereby questionnaires were sent to employees who were employed at junior management positions. Semi- structured in-depth interviews were self-administered whereby the researcher interviewed senior management at the organisation. These senior managers from different value chains are responsible for implementing information management policies and strategy.