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Editor’s blogApril 16 2014

Finally, a way for banks to use big data

Data security is big business, as evidenced by the impact of the 'Heartbleed' bug, and it is an area that banks should be instinctively moving towards.
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The hacking of the Canadian tax authority website and the UK’s parenting site Mumsnet make it almost inevitable that a security breach is coming to a website near you some time very soon. The impact could be anything from mildly irritating to catastrophic if it leads to financial loss. The experts say you need to have a different password and log in for every site you use. So, that means at least 20 passwords to take care of bank accounts, social media, utilities, shopping sites etc. Thanks, but I am having problems remembering two or three. What's the solution?

Clearly, I need a safe place to store my data and then access websites through the storage intermediary rather than going direct. This way I only need one password to the storage intermediary and can access pre-approved sites using the same data.

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