Financial Institutions and their IT environments constantly grow due to demand and evolve due to new services such as the Internet of Things, Bring Your Own Device, Cloud Services, Social Media and Big Data. IT Security has become a mandate. On top of that and during the last years, regulations and worldwide certifications have become and are about to become even more demanding in the future.
More than any other industry, financial institutions are entrusted with customers’ sensitive data. For this reason, financial institutions’ systems and data constitute the primary target for malicious attacks, leading to loss of proprietary information with subsequent reputational damage.
The increased scale of cybercrime and the unprecedented evolution in the sophistication of cyber-attacks creates an immense demand of security expertise and resources that companies find hard to fulfil themselves.
Banks and Financial Institutions are increasingly reluctant to buy more “new” technology for the “ever” emerging threats as they realize that software and technology products do not really address the root causes of vulnerable infrastructures, which are the lack of focus, discipline, knowledge and resources.
