Financial

The financial industry is the lifeblood of the global economy, managing everything from individual savings to multinational transactions. Financial institutions transform capital into the resources that drive growth and innovation. However, as the financial sector undergoes a digital transformation, the integration of advanced technologies such as Artificial Intelligence (AI) and cloud computing introduces new cybersecurity challenges.

Over the past decade, financial institutions have made significant strides in enhancing security measures. Initially, the focus was on compliance with regulations like GDPR and PCI-DSS, which enforced stricter controls on data protection and privacy. Multi-factor authentication (MFA) and encryption became standard practices, significantly reducing the risk of unauthorized access and data breaches. Financial systems were often compartmentalized to limit the spread of potential threats, but this approach also introduced inefficiencies and communication barriers.

Today, operational efficiency and business continuity in finance hinge on an interconnected strategy. To achieve this, cloud-based solutions and AI are being integrated into financial processes, introducing a new layer of complexity towards cybersecurity. These new security challenges present the potential for significant financial loss, stolen intellectual property, and erosion of customer trust if investments in cybersecurity are considered optional rather than imperative in today’s hyper-connected world.

The Devastating Impact of Digital Threats on the Financial Industry

  • In 2023, 30% of all cyberattacks worldwide targeted financial institutions.
  • The global average cost of a data breach in the financial sector in 2022 was approximately $5.85 million.
  • In 2016, the Bangladesh Bank cyber heist resulted in a loss of $81 million, highlighting the vulnerability of financial systems to sophisticated cyberattacks.

Percentage of the 20,000 Cybersecurity Incidents experienced in the Financial Sector over the past 20 Years

%

Banks

%

Insurers

%

Asset Managers

%

Others

Securing the Advantage

At information|SECURED, we understand the unique challenges financial institutions face in a cloud-driven world. We offer a comprehensive suite of cybersecurity solutions and services specifically designed to safeguard your critical IT, cloud, and AI infrastructure.

  • Security Risk Assessments: To prioritize risks and implement effective mitigation strategies, we conduct thorough assessments of your IT and financial environments, identifying known and unknown vulnerabilities, potential security gaps, and flaws that may exist.

  • AI Security Assessments and Penetration Testing: Specialized assessments analyze your AI systems and data pipelines for potential security flaws and known vulnerabilities, ensuring your digital tools are secure.

  • Vulnerability Assessments & Penetration Testing: Our team of experts identifies potential weaknesses in your existing systems, including those in your cloud environment, to fortify your defenses.

  • Data Protection Solutions: We implement robust measures to secure your sensitive financial data, both at rest and in transit, ensuring compliance with data protection regulations and safeguarding client confidentiality.

  • Identity & Access Management and Governance (IAM&G): We establish a framework for managing user access and permissions across your entire IT ecosystem, ensuring only authorized users have access to critical systems and data, significantly reducing the risk of insider threats and compromised credentials.

  • Third-Party Supply Chain Attack Mitigation: To minimize the risk of supply chain attacks, we thoroughly assess the security posture of your vendors and partners, identifying potential vulnerabilities that could be exploited.

  • Incident Response & Recovery: Our team offers both cloud-based and on-premises emergency incident response and recovery solutions to quickly identify, isolate, and remediate ongoing attacks, minimizing damage and restoring operations.

  • Employee Security Awareness Training: We empower your workforce with the knowledge to recognize and mitigate social engineering threats, phishing attempts, and other cyberattacks targeting the financial sector.

By implementing these solutions, information|SECURED will help your organization create a layered defense that safeguards your financial operations at every level.

We Are Here To Help!

Locations

Atlanta, GA
Washington, DC

Call Us

‭(800) 487-5760‬