Everything you need to know to protect your financial services business from attack
Financial technology is becoming so advanced that it now has its own abbreviation: FinTech. Why then, are most financial services businesses still overlooking the most important IT service at their disposal? Cybersecurity is vital for companies within the financial sector. Your data is heavily confidential and valuable and is therefore often the object of cyber-attacks.
Don’t be a sitting duck. Protect your data today.
Four cybersecurity essentials for financial services companies
Meet compliance regulations
You need to ensure that your financial services business is operating legally. There are compliance regulations in place for the financial sector that you must follow to protect client data from breaches. If you do suffer from a cyber-attack and your business is not following compliance regulations, there are heavy fines and penalties. However, it is important to note that simply meeting compliance regulations does not ensure that your business is cybersecure. These standards offer you a base level of protection. In the financial sector, this is just not enough. It is in your best interest to ensure that you not only meet, but exceed, the level of defence recommended by compliance regulations.
Balance confidentiality controls
As your financial data is so confidential, it is important to implement identity and access management effectively. These checks allow you to securely manage user permissions and control who can edit data within your ecosystem. It is important that you apply these vital security measures, while also ensuring that the right people have the correct access permissions so that your service delivery can remain efficient and high-quality.
Test your cybersecurity provisions
The threat landscape is always evolving and becoming more mature. Without consistent monitoring, the cybersecurity measures you have implemented will become out of date, leaving your business open to attack. Carrying out regular cybersecurity tests ensures that you can catch vulnerabilities before they are exploited. Need help with this? Fitzrovia carry out proactive cybersecurity assessments which evaluate your security posture and help you to improve your cybersecurity strategies and solutions.
Prepare for data breaches
If somehow a data breach does occur, then your reputation and revenue are both on the line. You need to control the damage as quickly as possible. Fitzrovia offer an emergency breach investigation service, which offers urgent support if your business suffers from a cyber-attack. Whether you have been targeted by phishing emails, suffered a ransomware or malware attack or data breach, we can help you to minimise the disruption to your business efficiently and sensitively. When disaster strikes, having a trusted team to rely on is invaluable.
Are you concerned that your financial services business is not adequately protected from cyber threats? Are you looking for ways to improve your security posture and defend your valuable data? Fitzrovia’s financial services’ guide to cybersecurity has all the essential information you could need. What are you waiting for?