BITS focuses on those areas that are most pressing to the financial services industry. Current priorities involve issues related to Security and Risk Assessment, Fraud Reduction, Crisis Management Coordination, and Information Technology Service Provider Relationships. BITS and The Financial Services Roundtable have a joint Identity Theft Prevention and Consumer Assistance initiative, with the flagship Identity Theft Assistance Center.  BITS’ results range from published business requirements to a toolkit for protecting the elderly and vulnerable from financial fraud and exploitation.

BITS serves as the strategic “brain trust” to provide intellectual capital and address emerging issues where financial services, technology and commerce intersect, acting quickly to address problems and galvanize the industry. BITS’ activities are driven by the CEOs and their appointees—CIOs, CTOs, Vice Chairmen and Executive Vice Presidents—who make up the BITS Advisory Board and BITS Advisory Council. These leaders identify issues, develop strategic recommendations and implement the CEOs’ decisions. BITS also facilitates cooperation between the financial services industry and other sectors of the nation’s critical infrastructure, and with government organizations, technology providers and third-party service providers.

BITS is governed by a standing BITS Committee of the Board of Directors of The Financial Services Roundtable, Chaired by William A. Osborn, Chairman and Chief Executive Officer of Northern Trust Corporation. BITS offers two membership categories: BITS Members for financial services organizations and BITS Affiliates for financial services consortia and associations