As cyber threats to the banking industry evolve, the information security risk to financial institutions matures.
Financial services organisations recognise the changing security landscape and cite avoiding data breaches as their primary mandate, with banking compliance becoming their second most important driver.1
Extremely sensitive and valuable data resides in the financial services sector—everything from personally identifiable information (PII) to check routing data to global stock and investment algorithms. The loss of this data and intellectual property has a major effect on a bank’s brand reputation and customer loyalty. When consumers and business customers place their trust and their money in your institution, your reputation for information security is paramount.
Even with increased scrutiny and attention from regulatory bodies, the goal of total protection remains elusive. Governance, risk management and compliance frameworks developed by NIST, PCI DSS, and ISO all strive to assess risk and identify security gaps. While they offer useful recommendations for cyber risk management, applying and perfecting a cybersecurity strategy can overwhelm your capable but short-handed IT security staff.
Advances in bank cybersecurity technology and services are improving your ability to proactively detect and remediate threats before financial services transactions and data are compromised. Secureworks has the expertise and advanced threat intelligence to help you protect your assets and reputation as you transform operations and embrace technical innovation.
Enhancing financial services security will help you:
- Protect valuable intellectual property and customer data from cyber criminals
- Develop strategies to enhance financial services compliance while reducing regulatory pressures
- Extend the skill set and capabilities of your IT and cybersecurity staff
- Enhance continuous monitoring and rapidly implement cyber-attack countermeasures
- Reduce the time it takes to respond to persistent threats
1 Vijayan, Jaikumar. SANS Institute, “Security Spending and Preparedness in the Financial Sector: A SANS Survey”, https://www.sans.org/reading-room/whitepapers/analyst/security-spending-preparedness-financial-sector-survey-36032, June 2015, accessed September 21, 2016.