The cyber-security essentials for financial services businesses
Cyber-security is important for any business, but within financial services companies, it is absolutely imperative. Businesses in the financial sector are all home to confidential data. Cyber-criminals are more than aware of the value of this data, and how to make it work for them. Holding data to ransom, using it for ID fraud or selling it on are all easy ways for them to make a lot of money. Unfortunately for you, a data breach is likely to be extremely costly for your business and cause severe damage to your reputation and credibility. You just can’t afford this.
Why then, are financial services firms not doing more to protect their data? Around half of all UK finance businesses don’t have adequate response plans for cyber-incidents, despite the fact that in 2020, 70% of financial services companies suffered a cyber-attack. Don’t let your firm be the next victim of a data breach. Take action now.
So, how can you make your financial services business cyber-secure? Fitzrovia’s four cyber-security fundamentals
1. Identity and Access Management
Your data is extremely valuable to cyber-criminals, and you need to have systems in place to protect it. Identity and access management puts you back in control. You can manage user permissions securely and ensure that only the right people can access and edit the data within your ecosystem.
2. Thorough Security Assessments
When it comes to cyber-security, knowledge is power. Fitzrovia’s security assessments evaluate your business’ current cyber-security provisions and asses your risk level. Our assessments provide reports on your current security posture which help you to understand which of your accounts are susceptible to attack and which accounts and passwords have already been breached. Once you know your weaknesses, we can use this information to make changes and strengthen your company’s cyber-security.
3. Actively Improve Security Posture
By continually and actively improving your business’ security posture across servers, databases and web-based apps, we can help to ensure that your business is always prepared for the latest developments in the threat landscape.
4. Implement Risk-Averse Systems
Fitzrovia’s range of cyber-security alerts and awareness tools help to protect your business against internal and external threats, drastically reducing the risk of a cyber-attack.
The threat landscape is more mature than ever and is continuing to evolve every day. If you want to protect your business and stay ahead of your competitors, you need to make changes now.
Protecting your business from cyber threats can be a challenge. There are lots of pitfalls to look out for, such as meeting compliance relations and managing legacy systems correctly. Fortunately, our guide has all the information you need to secure your financial services company.
Download it today and get your cyber-security journey started. There’s no time to waste.