The financial services sector is responsible for transacting and safeguarding large amounts of valuable data, making it a target for cybercrime. Financial service organizations have been among the biggest targets for hackers in recent years. Without the proper cybersecurity controls in place, banking information and Personal Identifiable Information (PII) that financial institutions house on their network is vulnerable to breaches and hack attacks. Today, the average cost of a data breach in the financial sector remains above $5.75 Million, with malicious attacks being the major cause for breaches.

This raises cybersecurity compliance concerns for banks and other financial organizations, as they are subject to significant fines and reputational loss in the event of a breach. As more banks and institutions digitize their access, service offerings, and workflow, having effective cybersecurity risk mitigation and compliance adherence solutions is critical. Putting in place good solutions translates into effective cyber-hygiene, with organizations limiting their exposure to penalties and non-compliance.

The risk of client attrition to a competitor increases exponentially for financial organizations experiencing a breach.

A strong cybersecurity and compliance oversight program for your financial institution can be complex and require focus from several different operational domains:

  • Protection of key data assets - PII, Transactions, Documents etc
  • Identification of information system vulnerabilities within your network
  • Supply chain compliance with vendor oversight
  • Staying on top of the myriad of regulatory requirements and controls
  • Keeping on top of staff and employee integrit
  • Continuously educating and training staff to be vigilant

Doing this requires a systems based approach to mitigating the data exposure risk and compliance gaps that exist with organizations.

SureShield has the expertise and advanced threat intelligence solutions to help your financial organization protect data assets and reputation:

  • Manage Regulatory Compliance Requirements and Gaps: Decrease your burden for complying with increasing regulatory requirements from NIST, PCI DSS, ISO, ISACA, GLBA and the FFIEC, and the like. ComplyShield allows comprehensive audit and compliance readiness across all of these regulatory agencies, with built-in crosswalks and harmonization of controls.
  • Proactively Identify and Remediate Information Systems Vulnerabilities: The increasing complex onsite and cloud based systems in use today increase the burden for available staff to address and stay on top of systems vulnerabilities. SecurityShield provides an easy solution to deploy and enables you to establish continuous scanning for your network and connected devices.
  • Manage Staff, Employee and Supply-Chain Integrity Oversight: IntegrityShield enables you to establish a 24/7 monitoring with no additional resource requirements. VendorShield allows your organization to stay on top of your vendor (supply-chain) ecosystem.
  • Address and Mitigate Exposure from Breached Data and Prevent Future Breaches: Knowing if you have been breached, and if records from your organization are being peddled on the dark web is important to limit risk, and take required actions. Identifying sensitive data flow and protecting such data within your network end-points is also an important safeguard. BreachShield helps identify exposed data and HackShield helps to protect data at end-points.

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