Industry continues support of BYOD initiatives

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When it comes to bringing in your own iPads, smart phones and tablets, the financial services arena embraces BYOD (Bring Your Own Device) initiatives. But don't expect them to buy them for you and your colleagues.

According to a recent State of BYOD report from Good Technology, a mobile device management company, CIOs and the tech teams inside financial institutions continue their broad support of bring-your-own-device initiatives.

"The Financial Service/Insurance and Healthcare industries continue to be among the biggest supporters of BYOD," says the Good Technology report.

And while BYOD is in its early stages, financial service firms have a set of best practices so far. For starters, they prefer for employees to pay for their own device that the firm will then support. This support can include work e-mail, IM, and access to the bank or exchange's enterprise systems.

"In nearly all of the expense-back environments, prior management approval of employee expenses was required and there was a fixed cap on expenses to help control costs. This expense back and cap model offers tremendous cost-savings for companies that switch from a company-owned device model, which can cost on average $60-100 per device," Good said in its report.

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