Cyber-Security and BFSI Sector

For every consultant in the global market, it is important to understand that every industry is exposed to the cyber-attacks that are taking place globally. Industries like healthcare and financial are experiencing the worst situation in the current market scenario. But it is also true that many small-scale firms around the assorted industries are also going through a rough phase. Can we blame the professionals for this? Or is it the global corporate sector that is to blame? Looking at the numbers and facts mentioned in the literary pieces published by many sources in the past few years, one can draw a conclusion that every entity in the global market is responsible for this adversity. Addressing the impact of cyber-attacks on all the industries, let us look the important of taking security measures in the BFSI sector. Why is it imperative to emphasise on cyber-security in the BSFI sector? One of the most important reasons for focusing on cyber-security in the BFSI sector, is the fact that all the firms within this group face difficulty in implementing cyber-security measures within their organisational structure. For example, offering online purchases and one-click premium payments have not only helped the banks and insurance organisations in improving their overall customer experience, but also have made them prone to phishing attempts. Along with phishing attempts, these firms are also exposed to DDoS attacks that are directed towards sabotaging transactions on their payment portals. More important challenges faced by the BFSI sector.Using hybrid model for data management: One of the most important challenges addressed by 27001 cyber consultants like us, is that with the exponential growth in the core banking system, the banks moved to using cloud space for storing the increasing amount of data. This has made them an active and vulnerable target for attacks like phishing. Banks have been relying on hybrid model for data management for quite a long time now. This model has increased the perpetual use of fingerprint login and OTPs. Thus, if firms do not address this situation and hire professions like Assured GRC in the nick of time, it would be worse for them in the future. • Problems due to third-party integration: All the customers are increasingly relying on the internet for their banking services as well. This has let the banks in offering the core banking systems online. For example, online banking services. To mitigate getting exposed to cyber-threats, the financial and insurance institutions started relying on third-party firms. These professionals would help them in building an IT environment that can keep the entities protected against cyber-crimes. Due to the increased dependence on third-party firms and poor integration of their services, every entity in this sector witnessed elongated downtime. • The threat of being exposed to advanced persistent threat groups: The data stored within the system of BFSI firms includes sensitive information like financial details ad social security numbers. This makes them a prime target for advanced persistent threat groups around the world, as they can be used by the to extort money out of them. How can we be of help? Connecting with Assured GRC and hiring our professional services can help every organisation in the BFSI sector to efficiently tackle the challenges mentioned above. One of the main reasons that led us to offering the best cyber-security consultancy services in London is that we proactively focus on threat detection. The vulnerability assessment and penetration testing services that we extend, helps us in helping the banks in avoiding data breaches, but most importantly, they help us in assisting our clients with sustaining their reputation in their niche, as well as the global market. The benefits our clients get are: • Efficiently tapping unauthorised assess • Adding resilience towards vulnerabilities caused due to third-party integrations. • Assessing all the existing loopholes in their network infrastructure. • Gaining international certifications like ISO 27001 Our risk and compliance management services add to the overall protection we offer each organisation that we undertake. Our trained and seasoned professionals strive towards offering the best consulting services in these domains. Their collaborative effort helps us in providing a risk-free environment to our client’s firm. The cyber-security consultancy services that Assured GRC extends, also helps a firm in securing the data that they are processing. So, if yours is an organisation in the BFSI sector and you are looking for top-notch information security consultancy services, you can call us at +44 (0)203 4759 932 .

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