Mitigating Risk While Meeting Customer Demands
With the explosion of data, the continual threat of cyber attacks, the expansion of regulatory controls, and the increasing expectations of customers, the financial services industry is facing a challenging set of demands. Financial Services Institutions (FSIs) must find cost-effective ways to offer innovative services while ensuring data security.
The financial services industry has undergone massive upheaval in recent years. As a result, FSIs have begun to abandon traditional business models in order to generate new revenue sources, remain competitive, and expand customer bases. While the rise of concepts such as e-banking, cloud computing, and vendor management has revolutionized the industry, it has also escalated the information-risk profile of most financial organizations.
In order to remain relevant in this evolving marketplace, financial organizations face the overwhelming task of securing data that often resides outside of their walls. Basic compliance is not enough. In order to truly secure data, today’s FSIs must go beyond compliance in order to:
- Define risk
- Assess the strengths of IT controls
- Identify vulnerabilities
- Improve employee training
- Conduct Business Impact Analyses
- Test security from within the organization.
Coalfire Can Help
With more than 1,000 assessments and audits completed for financial services customers, Coalfire has developed proven methodologies and streamlined web-based and cloud-based solutions that have secured our customers' data as well as their reputations. We offer a full suite of security services designed to meet and exceed the regulatory needs of the financial services industry.