Cybersecurity in Banking & Finance
Financial organisations that hold consumer data, including banks, investment companies, real estate firms, retail banking and insurance, are a prime target of cyber threats.
Unless a cyber attack is of a personal nature, in which the reputation of an individual or business is targeted, monetary assets are the endgame. And if there is a vulnerability in either processes, technology or personnel, it will be targeted.
Visibility
The cyber attack surface continues to grow in scope and is increasingly difficult to protect. The proliferation of Internet-of-Things (IoT) devices, the adoption of multiple clouds for business services, and the use of mobile devices by customers and employees rapidly expands the attack surface. As a result, financial services firms deploy more and more point security products to cover the gaps created by the expanding attack surface. The resulting network security silos obfuscate visibility—increasing operational inefficiencies and ratcheting up risk.
Operational Efficiency
Lack of integration across the different security elements and architectural fragmentation increase operational inefficiencies. Without integration, many network security workflows must be managed manually. In addition to delaying threat detection, prevention, and response, architectural silos create redundancies, increased operational costs, and potential holes in an organization’s cybersecurity posture.
Compliance Reporting
Financial services is among the most highly regulated industries in the world, with personal and corporate financial data residing across the network—from the data center, to the edge, to the cloud. Organizations must be able to demonstrate compliance with multiple regulations and standards without redeploying staff from strategic initiatives to manually prepare audit reports.
Flexibility
As financial services organizations increasingly embrace cloud applications and infrastructure, the network security architecture must be sufficiently agile to enable fast, secure, and compliant public, private, and hybrid cloud-based services while protecting traditional on-premises services at the same time.
Finance companies have tackled a cyber-attack or
will be the target of one.
To remediate your specific cyber security needs, see our range of services here.
Monitor business services
Monitor for security incidents across all connected users, devices, and applications while classifying abnormal behavior as it is detected in the network. Using customizable, predefined correlation rules, administrators can be alerted immediately and take appropriate actions to mitigate it before it materializes into more significant security issues.
Security Posture KPI
Your organization's security posture is critical. It has an inverse relationship with cybersecurity risk. As your security posture improves, cybersecurity risk decreases. Spectrum performs critical KPI in order to reduce cybersecurity risk and ensure data privacy and data protection.
Secure infrastructure
Spectrum addresses the challenge of an expanding attack surface by providing an organization with end-to-end security and visibility across their network infrastructure
Meet compliance obligations
You can now protect against both external and internal threats in a very fast, highly-effective and cost-efficient manner. You can document and manage all your security efforts, thus staying compliant with all governmental, business or other regulations.
Free Consultation
To understand your vulnerabilities and to navigate the growing financial threats and compliance processes, have a free consultation with a Spectrum Security Expert.