Cyber Security for Finance

Web Application Vulnerability Assessment and Penetration Testing

Why Cyber-Security needs to be ‎a priority in Finance

Cyberattacks ‎are on the rise and so are the costs associated with breaches. As an industry, finance has been ‎historically slow to ‎move away from legacy technologies. Now there’s a greater need to digitally ‎transform their processes and their cybersecurity strategy along with them. The statistics below don’t bode well ‎for the sector, but each can be addressed ‎in a modern way that strengthens cybersecurity and modernizes their practices.

Why Industry ‎is a target for cybercrime (Business Risks)‎

Most ‎criminals target ‎financial firms simply‎ because that's where the money is. Despite major efforts to protect themselves against ever-more-numerous ‎and sophisticated attacks, businesses in this sector need to keep their guard up.

The‎ possible losses Finance sector might face ‎as a consequence of cyber-attacks on their platform are:

  • ‎ Increasing Competition
  • A Cultural Shift
  • Regulatory Compliance
  • Changing ‎Business Models
  • Rising Expectations
  • Customer Retention
  • Outdated Mobile Experiences
  • Security Breaches
  • Antiquated Applications
  • Continuous Innovation

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The number of cyberattacks in the Finance ‎industry is ‎increasing, but there are several ways to‎ minimize the risk of getting hacked.

  • Have a ‎clear business plan
  • Monitor your financial ‎position
  • Ensure customers pay you on time
  • Know ‎your day-to-day costs
  • ‎Keep up-to-date accounting ‎records
  • Meet tax deadlines‎
  • Become ‎more efficient and control overheads
  • Control stock
  • ‎Get the right funding
  • Tackle problems when they‎ arise

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