Financial Services

Cyber Security for Financial Services

Secure access management solutions are a must-have for financial institutions that want to stay as secure and compliant as possible, given that internal threats represent a large percentage of breaches affecting the financial services industry, the need for a quickly deployed and agile access control system is at the top of every C-level executive’s list. In order to fully protect mission critical services, data and systems, financial institutions are increasingly investing in Privileged Access Management and other sophisticated capabilities that also address regulatory compliance. The kinds of breaches that occur in financial institutions can halt trading, impact significant financial transactions and could include unauthorized account transfers, identity theft (generating information that can be sold on the dark web as part of a multi-billion criminal industry) and accessing of strategic and confidential information held by investment banks, venture capital firms, and more. Organizations who fail to protect confidential information can face legal penalties, regulatory fines, short- and long-term reputational damage, and the collapse of businesses including credit card issuance and insurance. Privileged accounts are necessary to coordinate often complex tools, processes, and workflows internal to institutions, but also externally given the connected nature of the industry, from trading to clearing and settlement.