Compliance is not enough
Cybersecurity solutions for finance and banking
Attackers want your customers' personal information. Weak security
programs can lead to major data breaches and revenue loss.
What we're seeing
Financing organizations are in need of continuous offensive cybersecurity.
Digital needs are increasing
Over the past decade, the banking industry has undergone a major digital transformation, with a growing number of people adopting cashless transactions. This shift has increased the demand for online financial services, which has made your organization more vulnerable to cyberattacks.
Access to Personally Identifiable Information (PII)
Customers need to provide PII to work with a financial organization. It is your organization's responsibility to safeguard customers' assets and PII from attackers. To remain secure, your organization should test against the protection of this data.
Risk to the greater economy
Breaches and attacks to your organization pose a significant threat to the broader economy. A breach in one bank can lead to a ripple effect, causing people to withdraw their assets from other financial institutions.
What's at risk
Don't break your clients' trust and damage your credibility
The repercussions of a data breach in the banking and financial sector can be severe. One of the biggest losses is time and money. In 2019, the average cost for a breach in the industry was $5.68 million.
If a breach were to happen, the trust and credibility those businesses had would be broken, making it challenging to retain existing customers and attract new ones. In some cases, banks may need to cancel customers' banking cards to mitigate the risks associated with a breach. Although this is done for the safety of its customers, customers may get frustrated with their bank.
Using Sprocket's Expert-Driven Offensive Security Platform: you can use the information we provide from year-round testing on your attack surface to implement remediations and preventive controls.
How to remain confident and secure
When did you have your last
cybersecurity risk assesment?
Safeguarding customer assets and PPI is essential for the banking industry's credibility and stability. The finance and banking sector faces the ongoing challenge of adapting to a digital landscape while addressing various cybersecurity threats. Unfortunately, companies can get a false sense of security if they only look at compliance regulations. While meeting compliance is great, it is not a form of security nor does it maintain a company's security throughout the year.
To remain resilient, organizations must prioritize cybersecurity efforts and invest in education and resources to protect both their customers and the broader economy. Utilizing continuous penetration testing, attack surface management, and adversary simulations can help organizations be prepared for when an attack eventually occurs.
See How Sprocket Protects Finance and Banking Organizations
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Read moreContinuous Human & Automated Security
The Expert-Driven Offensive
Security Platform
Continuously monitor your attack surface with advanced change detection. Upon change, testers and systems perform security testing. You are alerted and assisted in remediation efforts all contained in a single security application, the Sprocket Platform.
Expert-Driven Offensive Security Platform
- Attack Surface Management
- Continuous Penetration Testing
- Adversary Simulations