Cyber Threats Pose Business Risk to Financial Services Organisations
Highly digitised and data-rich, no sector presents a more attractive target to cybercriminals than the financial services industry.
+283%
in targeted financial services attacks since 2020
300x
more vulnerable to cyber threats than other industries
92%
of financial services firms increased their cybersecurity spending last year
$5.71m
was the average cost of a cyber attack in the financial services industry in 2021
Stepping up to the challenge
Financial service providers are an overwhelmingly appealing target for cyber criminals. Not only does this industry carry the responsibility for the personal information of billions of people, the advances in internet banking, mobile apps, and instant payments all require new technology which invariably increases the industry’s attack vector and introduces new vulnerabilities. It is crucial that financial services companies step up to this challenge.
SenseOn protects a Fortune 100 financial group
Minimal effort required to correlate data
The nature of the financial services industry means that there is a high volume of sensitive data. This, in turn, generates a significant amount of security data. SenseOn correlates all of this data into one usable format so analysts can instantly find out who, what, where, when and how without having to try and link up information from disparate sources.
Direct observation of your network
As security teams are becoming more distributed through remote working, it is becoming even harder to access network information with traditional tools. SenseOn’s Universal Sensor collects data across remote workers, offices, production sites and cloud instances at once with an EPNS service to correlate endpoint information and the network data at the point of being recorded.
Drastic reduction in blind spots
With sensitive data comes great responsibility. It is a top priority that there are no security blind spots in a financial service company’s digital estate. Any gap could be an entryway for adversaries to access confidential information. Our Universal Sensor provides specific, granular information without the traffic jam of lots of different tools to stop adversaries from penetrating your estate.
Reduction of noise
As with many security teams, resources for cyber security within financial services firms are often thinly stretched. As such, there is rarely the capacity to resolve the thousands of alerts that are generated by traditional security tools. Using a highly accurate AI based reasoning framework, SenseOn only brings true positive alerts to the attention of analysts, dramatically reducing security operating costs.
