Centre for the Investigation of Financial Electronic Records
The Centre for the Investigation of Financial Electronic Records (CIFER Research) conducts research, hosts educational and networking events, engages in advocacy and provides products and services related to financial records and the records of financial institutions.
In today’s complex operating environment, global financial institutions face a growing number of risks associated with business records. Insufficient understanding and control of business records is at the root of many of the current risks faced by financial institutions: data leakage, integrity of transaction records, legal discovery challenges, data protection and confidentiality, trans-border data flow, and records retention to name but a few.
The key to resolving many of these issues is in developing a clearer understanding of the records of financial institutions – their creation, communication, storage, and disposal, as well as the people and systems that shape these processes. From this understanding the principles and practices associated with a strong and effective program of managing and controlling the risks associated with records can be achieved.
CiFER's belief is that gaining the required understanding of financial records and systems relies on a mult-disciplinary approach to research. Below is an interesting quote on the drivers of inter- and multi-disciplinary approaches to research in the fields of science and engineering that is equally applicable in the financial domain:
"Today there are two primary frontiers of engineering.
The bio-nano-info frontier is the province of things that are becoming smaller and smaller, faster and faster, and more and more complex. The work at this frontier combines the power of physical science, life science, and information science. At this frontier, materials and devices are assembled by manipulating individual atoms. Here the distinction between science and engineering has essentially disappeared. Many fundamental disciplines are required to work together, and progress is almost always made by teams of researchers, rather than by individuals. Developing the interdisciplinary organizations needed to work and learn at this frontier is critically important. The curricula of the research university of the 21st century must also reflect the interdependence and synergy of traditional disciplines.
The macro systems frontier is the province of things that are becoming larger and larger, more and more complex, and that are of great societal importance. Work at this frontier advances humankind's agenda in energy, water, environment, food, sustainability, manufacturing, logistics, civil infrastructure, and security. The work at this frontier is mostly done by engineers, but to achieve great goals these engineers need to collaborate with colleagues from economics, management, the social sciences, law, public policy, and the arts and humanities. Organizing the collaborative structures and education needed to work and learn at this frontier is also critically important to the research university of the 21st century."
- Dr. Charles Vest, The Role of the Research University in the 21st Century, Presented at the KAUST Symposium, October 22, 2007, http://www.kaust.edu.sa/bios/speech-vest.aspx (last visited October 25, 2008)
(c) CiFER Research 2008-2011