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Agility and Stability: Developing Information Security Programs for Financial Institutions

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Securance has more than two decades of experience helping organizations combat evolved cyber threats, build effective risk management programs, align with compliance standards, and increase operational efficiency. Our comprehensive approach integrates proven methodologies, dependable expertise, and each customer’s unique requirements to maximize the benefits and long term value of each assessment.

INTRODUCTION

Financial institutions are the second most frequently attacked organizations after healthcare and suffer particularly from credential and ransomware attacks. In the past year, 74 percent of financial institutions have experienced a rise in cybercrime. Banks face a triple burden when it comes to cybersecurity: complex infrastructure, high-value assets, and high expectations from customers and regulatory agencies. More and more, we are coming to understand that the size of the institution is irrelevant. Regional banks face as much risk as global institutions. In some ways, the risk is greater, because the cost per record stolen is higher, and there are fewer resources available to dedicate to cybersecurity.

Organizations that operate with fully deployed, mature security automation were able to identify and contain a data breach 77 days sooner, or 27% more efficiently, than those in early stages of maturation.

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