CloudOptics Cyber Security Solutions for Financial Services
Providing Cybersecurity to Financial Services & Keeping It Compliant
CloudOptics Cyber Security Framework for Financial Services
Identify, Protect, Detect Respond and Recover
Financial services organizations have become ta leading target for most cyber-attackers. The mounting number of vulnerable devices, unauthorized applications and cloud services is rapidly increasing the attack surface. Moreover, the rise in cyber threats on financial industry has resulted in numerous regulatory entities to improve security and protect customers from cyber- attacks. Therefore it has become really important to provide cybersecurity in financial services.
With CloudOptics financial services cybersecurity, organizations gain visibility into their security posture and compliance status across their augmenting attack surface. It is more important than ever to see all assets across their organization, continuously identify vulnerabilities and misconfigurations, and accurately prioritize their response to rigorously protect customer data.
Cybersecurity and Financial Services: An understanding of risks
From bank data security to the revelation of customer or investor data to the accidental leak of non-public reports or plans, data protection in financial services organizations can be challenging as business content moves to the cloud, without IT’s knowledge or authorization.
And despite following the stringent compliance directives, the financial sector continues to be a high-value target for cybercriminals. Financial institutions of varying size and shape face several challenges in the current digital, especially with the rise of online banking and purchasing. Some of the challenges pertaining to data security include:
Managing a complex, connected IT environments with a wide mix of advanced and legacy information systems
Dependence on a wide range of third parties to deliver comprehensive services to clients
Maintaining and juggling between compliances with regulations like SOX and PCI DSS
Handling financial information of enormous volume of customers and probing fraudulent activity
Some of the biggest data breaches have involved financial service industries – from banks and payment processing companies to credit reporting departments. Below are the top 5 financial services data breaches of 2018, listed from largest to smalles in terms of the number of individuals affected:
Equifax, Inc – 143 million accounts in US and 400,00 in the UK
Heartland Payment Systems – 130 million customers
TRW Information Systems and Sears – 90 million individuals
JP Morgan Chase – 76 million households and 7 million small businesses
Card Systems Solutions, Inc – 40 million credit card accounts
Highlights of 2018 Cyberattacks on Financial Services
Manage Cyber Risk Across the Evolving Financial Attack Surface with CloudOptics
With a robust security framework in place, financial industries can significantly improve threat detection and consequently mitigate the challenges faced by the industry. CloudOptics offers such a cloud-based solution for a comprehensive security and compliance system designed to provide Cybersecurity in financial services to:
Achieve continuous compliance by identifying non-conformance issues and adherence to all finance industry standards and regulations
Gain actionable insights by identifying vulnerable IT assets and prioritizing threats to protect customer data across financial systems
Maintain customer confidence by continuously monitoring the cyber exposure and potential threat vectors
