U.s. Bancorp · NYSE:USB
U.s. Bancorp — Credit Suisse Financial Services Forum 2017
17 slides from U.s. Bancorp's conference presentation, Feb 7, 2017
Slide 1: Credit Suisse Financial Services Forum
Credit Suisse Financial Services Forum Terry Dolan Vice Chairman and Chief Financial Officer Jason Witty EVP, Chief Information Security Officer February 7, 2017 Exhibit 99.1
Slide 2: We're Constantly Investing in Many Areas
We’re Constantly Investing in Many Areas New products Customer- facing Back office Compliance Customer- facing Innovation Risk management Research Facilities Technology Training
Slide 3: Risk Management at U.S. Bancorp
Risk Management at U.S. Bancorp The “what” Risk and governance start at the top Investments in people, processes and technology Infrastructure largely in place and reflected in our run rates The “how” The Risk Management Committee of the Board of Directors approves and oversees the risk management f
Slide 4: Operational Risk Management
Operational Risk Management We’ve established an effective program for operational risk Third party risk management Cybersecurity and information technology New and modified products and services Innovation activities Monitoring and verification activities throughout all phases of the lifecycle Inde
Slide 5: Cybersecurity is Key to Risk Management
Cybersecurity is Key to Risk Management We must keep in mind… Size of the “opportunity” Frequency of attacks Successes to date embolden the “bad guys” Number of exposed points is exploding Cyber risk is not about a couple of guys in their basement A few striking statistics From 2013 to 2016 22,143 c
Slide 6: Internet Velocities are Mind-blowing
Internet Velocities are Mind-blowing Netflix: 23,148 hours of video watched.1 YouTube: 138,889 hours of video watched.5 Google: 4.1 million searches.9 Facebook: 3.3 million pieces of content shared.2 Ads: 10 million ads displayed.3 Pinterest: 57,870 page views.10 Twitter: 347,222 tweets.6 Instagram:
Slide 7: When We Went to the Moon in the 60's…
When We Went to the Moon in the 60’s… Source: https://en.m.wikipedia.org/wiki/Apollo_Guidance_Computer Apollo Guidance Computer: 2MHz processor 4kB RAM 75kB storage Weight: 70 lbs IBM System/360 Model 75: 6 MB (6,000 kB) program Memory was small, computers were big
Slide 8: Today's Apple iPhone
Today’s Apple iPhone Device is small, but capacity is big Apple iPhone: 2.23 GHz (2,230 MHz) A10 CPU/RAM/GPU 256 GB (256 million kB) storage That’s roughly 42,139 times more capacity than it took to put humans on the moon! Source: https://en.wikipedia.org/wiki/IPhone
Slide 9: The Cybersecurity Industry is Booming
The Cybersecurity Industry is Booming 7- 8% CAGR Spending on Information Security worldwide in 2015… Source: http://www.gartner.com/newsroom/id/2828722
Slide 10: The Cost of Cybercrime is Unprecedented
The Cost of Cybercrime is Unprecedented Spending on Information Security worldwide in 2015… Source: Spending: http://www.gartner.com/newsroom/id/2828722 Cost: http://www.mcafee.com/us/resources/reports/rp-economic-impact-cybercrime2.pdf Organized criminals are exceptionally well-funded; the cost of
Slide 11: A Typical Organized Crime Business Model
A Typical Organized Crime Business Model Security: Configuring your System Foundations of Carding: Terminology, Explanation of Payment Systems Drops and Intermediaries, Customs and Delivery of Goods Working in the U.S., Canada and England Working in Europe, Asia, and the Rest of the World Enrolled C
Slide 12: Cyber Strategies Must Be Intelligence-driven
Cyber Strategies Must Be Intelligence-driven Customers Place trust in us and demand that we are careful stewards of their data and transactions Business lines Require agility and fast time to market in order to meet business goals and customer demand Cyber threats Require us to have mature preventio
Slide 13: Cyber Strategies Must Also Be Comprehensive
Cyber Strategies Must Also Be Comprehensive Data and information: is secure both at rest and in transit Networks: are monitored 24x7 Devices: are secure and patched regularly to remain protected over time Applications: are secure in both development and production Identity and access: is appropriate
Slide 14: Improving Intelligence
Improving Intelligence Staying a step ahead with machine speed data analytics Cyber Defense Fusion Center ~550 information security staff in 34 cities throughout six countries 24x7 detection, monitoring, response teams 1.3 petabytes of information security data $10 billion in money movement reviewed
Slide 15: Building a "Future-proof" Defense
Building a “Future-proof” Defense Protecting against threats (fraudsters and hackers) and managing through new breakthroughs (disruptive technologies and real-time payments) Offering machine-speed data, using external intelligence, and taking advantage of machine-learning, analytics and artificial i
Slide 16: Here, Now and Coming Soon
Here, Now and Coming Soon “Arguably the single most forward-thinking major financial institution in the United States today,” 2016 #3 for Innovation “Arguably built the industry’s deepest innovation department,” 2015 Innovation Award – Photo Bill Pay, 2014 Mobile Voice Biometrics Mobile Fingerprint
Slide 17: Award-winning Industry Thought Leadership
Award-winning Industry Thought Leadership Risk-based, frictionless, customer-centric controls * U.S. Bank is the only bank to rank in the top five for all 12 years since Ponemon’s first privacy trust study was conducted in 2004, and has been number one for the past 10 years Multichannel customer aut
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