With trillions of dollars changing hands each day, the financial services sector is a prime target for cybercriminals. As a result, financial firms must ceaselessly continue to keep their guard up. At the same time, hackers, too, are upping the ante by upgrading their tactics.
This game of cat and mouse has been in existence for quite a while and will probably exist way past our time. If you are a business keen on keeping prying eyes out, consider looking for reputable cybersecurity firms like https://sonraisecurity.com/.
Fact Check
The nature of security threats to financial firms mostly occurs in two forms: identity and access. When a breach occurs, it can lead to devastating consequences which falls true as the global average cost of data breach amounted to $3.86 million in 2020 alone.
Further data indicate that in 2019, cybercriminals cost businesses over $ 2 trillion. The culprits are increasingly cunning, like with the ransomware attacks, where the hackers demanded payment in cryptocurrencies- which are hard to trace.
While shopping for the right security solution, there are a few points you need to keep in mind. This includes updates, maintenance, and costs.
Enterprise Security Access And Identity
This majorly revolves around applying the right technology to security applications. Modern security is all about automation, aligning platforms, products, and leveraging expertise services.
Security Basics
The following factors are vital for the success of any enterprise security system. By no means are these points the sole considerations but they form the basis of any purchase.
- Cost
Consider the overheads of such an application, maintenance, and if it can effectively aid your venture become more productive.
- Usage
The best security is one that’s as easy to use as one-two-three. So, how easy is it to use? Does it offer central access?
- Quality
Can the application enforce a planned password policy? Will it be able to limit certain kinds of access to select individuals?
Installing an Enterprise Security System isn’t easy and should be left to the professionals. It involves:
- Lining up the functions of the organization and the technology.
- Configuring access bases on the identity of an individual.
- Centralized access and controls.
- Limiting operational complexities.
Before deciding on an Enterprise security service, a business needs to conduct a thorough financial services audit. This is necessary in identifying the strengths and weaknesses of any systems you have in place.
Essentially, the audit needs to take a look at these areas:
- Risk Analysis
This takes a look at the potential threats against your services.
- GAP Analysis
Gap analysis takes a look at the state of security preparedness of your business.
- Security Assessment
Scans for any flaws within your security system.
- Remedies
Makes suggestions on mitigating recognized flaws.
Partnering with the right service provider is crucial if you wish to guard against current and future threats that can shut down your business. Other than identity and access, security firms prevent malware, spyware, and trojan horse attacks on your network.
There are currently several reputable service providers that can help you design and implement a strong defensive line. All you have to do is take your time and identify the right one.
