Book ID: CBB340774234

Cyber and the City: Securing London’s Banks in the Computer Age (2022)

unapi

Ashley Sweetman (Author)


Springer Nature
Publication date: 2022
Language: English


Publication Date: 2022
Edition Details: Book Series: History of computing
Physical Details: 231

Cyber security is the greatest risk faced by financial institutions today, a risk they have understood and managed for decades longer than is commonly understood. Ever since the major London banks purchased their first computers in the early 1960s, they have had to balance their dependence on those machines with the need to secure their operations and retain the trust of their customers. Technological change in the second half of the 20th century prompted British banks to reevaluate their function as trusted protectors of wealth. In the City of London, the capital’s oldest area and historically its business and commerce hub, the colossal clearing banks employed newly commercialised electronic computers—the processing power of which could transform the highly clerical clearing and settlement process. What unfolded over the following three decades was a relentless modernisation drive. Revolutionising the way that banks and other financial institutions conducted business and interacted with each other and permanently altering the speed and scale at which the United Kingdom’s financial sector functioned, this rapid modernisation thrust computer security into the consciousness of bank executives and their clients alike. Dependence on computers quickly grew, and the banks immediately realised the need to secure their new software and hardware. Focusing on the period 1960 to 1990, this book uses newly released and previously unexplored archival material to trace the origins of cyber security in the UK financial sector. This work will be of value to students and academic researchers in the history of computing, financial history, and the history of intelligence and security, as well as the general reader interested in contemporary intelligence, cyber security, and finance.

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Reviewed By

Review Jacob Ward (2023) Review of "Cyber and the City: Securing London’s Banks in the Computer Age". Technology and Culture (pp. 613-615). unapi

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Authors & Contributors
Stewart, Andrew J.
Bijsterveld, Karin
Durant, Darrin
Martin, I.
Schlombs, Corinna
Selinger, Evan
Journals
IEEE Annals of the History of Computing
IEEE Technology and Society Magazine
Science as Culture
The Bridge: Journal of the National Academy of Engineering
Engineering Studies
Isis: International Review Devoted to the History of Science and Its Cultural Influences
Publishers
Cornell University Press
MIT Press
Harvard University Press
Oxford University Press
Concepts
Privacy
Computers and computing
Computer security; cyber security
Security technologies
Technology and society
Surveillance
Time Periods
21st century
20th century, late
20th century
Modern
Places
United States
Great Britain
East Germany
India
West Germany
Middle and Near East
Institutions
Facebook (firm)
Naval Research Laboratory (U.S.)
Amazon (Firm)
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