Do SAMs in banking industry need patching in the tool?

I’ve heard from other Software Asset Managers that there is high proclivity in the banking industry to also patch software, and ideally patching should also be part of a SAM tool.

Do you agree? If yes, why is so - and why this particular industry is so different than others?

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I agree with the idea that patching should ideally be integrated into a SAM tool, and there are several reasons for this. In the banking industry, as in many highly regulated sectors, there is a distinct emphasis on security and compliance. This industry deals with sensitive financial data and is subject to strict regulations and scrutiny. Therefore, keeping software up-to-date and patched is not only a best practice but often a regulatory requirement.

Patching within a SAM tool makes sense because it streamlines the process of tracking, managing, and applying software updates across an organization. SAM tools are designed to manage software licenses, monitor software usage, and ensure compliance. Integrating patch management allows organizations, including those in the banking industry, to maintain a strong security posture by addressing vulnerabilities promptly.

The banking industry might appear more distinct in this aspect due to the critical nature of its operations and the potential consequences of a security breach. However, the importance of patching is not unique to banking; it’s relevant across various sectors, especially in today’s interconnected digital world where cyber threats can impact any organization. Nonetheless, the stringent security and compliance requirements in banking often necessitate a more proactive approach to patch management, making the integration of patching into SAM tools a valuable practice.

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