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In our increasingly digital world, a greater proportion of businesses across different sectors are trying to integrate new technologies into their processes. Technologies such as IoT, cloud computing, edge computing, and AI have the ability to drastically improve the service and operations of any business. Cybersecurity Bedrock.
Over the past year, like many industries, the financial sector has faced a range of both challenges and opportunities, leading to a decade’s worth of digitaltransformation in 12 short months. We have seen particular growth in interest from banks and financialservices in deploying a cloud-based Zero Trust approach.
Companies are being compelled to embrace digitaltransformation, or DX , if for no other reason than the fear of being left behind as competitors leverage microservices, containers and cloud infrastructure to spin-up software innovation at high velocity. A core security challenge confronts just about every company today.
API security is a pressing concern for industries undergoing digitaltransformation, and none more so than financialservices and insurance. API attackers are on the move in financialservices and insurance We discovered that API attackers have become increasingly active in financialservices and insurance.
The Role of Secrets Management in Securing FinancialServices madhav Tue, 11/05/2024 - 04:30 Secrets management is one of the top DevOps challenges. Let’s look at the role of secrets management for financialservices. Why is secrets management crucial for financialservices?
One of the top findings from the 2018 Thales Data Threat Report, FinancialServices Edition was that data breaches in U.S. financialservices organizations are increasing at an alarming rate. Two other key drivers are digitaltransformation and poor investments in IT security tools needed to protect data.
It’s the glue holding digitaltransformation together. Related: A primer on ‘credential stuffing’ APIs are the conduits for moving data to-and-fro in our digitallytransformed world. APIs are literally everywhere in the digital landscape, and more are being created every minute.
As digitaltransformation accelerates, Application Programming Interfaces (APIs) have become integral to software development – especially when it comes to adding cool new functionalities to our go-to mobile apps. Hackers know just how vulnerable companies are at this moment.
The pace and extent of digitaltransformation that global enterprise organizations have undergone cannot be overstated. Organizations, such as financialservices or government, deal with sensitive information and prefer a private cloud model with greater control over the security of applications, users, and data.
Financialservices are at the crossroads of innovation and threats from ever-more sophisticated cybercriminals. “In The post Ensuring vigilant digitaltransformation in the financial sector appeared first on Security Boulevard.
First up: How digitaltransformation is raising the alarm in financialservices. In this series, we're breaking down the top 5 cybersecurity challenges for several high-growth industries.
2024 Thales Global Data Threat Report: Trends in FinancialServices madhav Tue, 10/15/2024 - 05:17 Financialservices (FinServ) firms are key players in the global economy. Nearly two-thirds (64%) of FinServ said it’s more complex to secure data in the cloud than on-prem, compared to 55% of general respondents.
The Role of Secrets Management in Securing FinancialServices madhav Tue, 11/05/2024 - 04:30 Secrets management is one of the top DevOps challenges. Let’s look at the role of secrets management for financialservices. Why is secrets management crucial for financialservices?
Now toss in the fact that digitaltransformation is redoubling software development and data handling complexities. In addition, I see more and more service providers adopting SOAR, as the MSSP and MDR markets grow at 15% and 30% respectively according to Gartner. Sutton: Digitaltransformation is a big driver for SOAR.
FinancialServices Organizations Need to Adapt their Security Practices to the Shifting Environment. businesses are taking advantage of digital technologies like cloud, mobile, and IoT to digitallytransform their operations. Thu, 11/05/2020 - 06:52. Labelled Industry 4.0, Labelled Industry 4.0,
A quasi-governmental entity in the United Kingdom is rolling out a new tool designed to boost fraud protections among open banking partners, offering an interesting lesson in risk management amid digitaltransformation.
Related: Identity governance issues in the age of digitaltransformation. I had the chance at RSA 2019 to visit with Mike Kiser, global strategist at SailPoint , an Austin, TX-based supplier of IGA services to discuss this. In this digitallytransformed environment, maintaining perimeter defenses still has a place.
API security is a critical concern for industries that are undergoing digitaltransformation. Financialservices and insurance sectors are particularly vulnerable due to the increasing number of APIs they need to manage. This increase in API usage has made these industries prime targets for attackers.
To compete, financial institutions are investing heavily in digitaltransformation. Secure digital payments leveraging biometrics, tokens, and context-based security. The full digitization of contracts, subscriptions and consumption of services. Accelerating digitaltransformation.
But today, the rise of online banking, digital applications, and challenger banks has caused significant disruption across financialservices. The COVID-19 crisis has put pressure on banks to improve their digital offerings as lockdowns have forced customers to turn to online banking rather than physical, in-store experiences.
Without them digitaltransformation would never have gotten off the ground. Related: Defending botnet-driven business logic hacks APIs made possible the astounding cloud, mobile and IoT services we have today. OFX is the financialservice industry’s standard for transferring funds,” he says.
New Cybersecurity Rules for Financial Institutions in New York State Take Effect November 1, 2024 madhav Fri, 10/25/2024 - 06:09 The next major deadline for compliance with the updated cybersecurity rules from the New York State Department of FinancialServices (NYDFS) is November 1, 2024.
Secure the digitaltransformation of the payments industry across various applications and environments. The combination of robust encryption, secure payment processing, and advanced HSM technology provides a comprehensive defense against evolving fraud threats in the financial sector.
Data security professionals also make ambitious plans, but implementation rates are too low – a key finding in the 2019 Thales Data Threat Report-FinancialServices Edition. Here’s a look at four common issues highlighted in the 2019 Thales Data Threat Report-FinancialServices Edition and tips for overcoming them.
The attackers have a vast, pliable attack surface to bombard: essentially all of the externally-facing web apps, mobile apps and API services that organizations are increasingly embracing, in order to stay in step with digitaltransformation. Related: The ‘Golden Age’ of cyber espionage is upon us.
BOSTON–( BUSINESS WIRE )– ECI , the leader in managed services and cybersecurity for the global financialservices industry, today announced that Matthew McNulty has joined the company as Chief Revenue Officer. We’re excited to welcome him to the team and look forward to his impact on ECI’s next phase of growth.”.
Digitaltransformation is changing the way we live and work, both in India and around the globe. DigitalTransformation is Well Underway. Banking, financialservices, media, insurance, and e-commerce companies have the lead in transformational initiatives in India.
Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.
New Cybersecurity Rules for Financial Institutions in New York State Take Effect November 1, 2024 madhav Fri, 10/25/2024 - 06:09 The next major deadline for compliance with the updated cybersecurity rules from the New York State Department of FinancialServices (NYDFS) is November 1, 2024.
Related: How 5G will escalate DDoS attacks Caught in the pull of digitaltransformation , companies are routing ever more core operations and services through the Internet, or, more precisely, through IP addresses, of one kind or another.
For all its other security milestones, 2021 was the year that vulnerability disclosures began to get their due, taking on greater importance across all sectors, but particularly in government where valid submissions rose 1,000% and in financialservices and software, where they rose 82% and 73%, respectively.
Ever since the digitaltransformation in banking, we have seen a giant shift towards digital onboarding in financialservices. Technologies like liveness and identity verification solutions have started to be a prominent step in intelligent digital onboarding.
Incorporating practices like card recycling as well as eco-friendly products such as the Ocean Plastic® Card made of reclaimed marine plastic waste collected by Parley for the Oceans , has also been front of mind for many financialservices organisations in the past year. Accelerated digitaltransformation for people and things .
One way to grasp how digitaltransformation directly impacts the daily operations of any organization – right at this moment — is to examine the company’s application environment. Related: How new exposures being created by API sprawl.
However, as important as PCI may be, United States financialservices organizations operate in one of the worlds most stringent and complex compliance landscapes. Understanding the US FinServ Compliance Landscape The US financialservices industry is subject to a vast number of laws and regulations.
APIs are the conduits for moving data to-and-fro in our digitallytransformed world. Long-run damage Data Theorem has won customers from the financialservices and technology sectors that are routinely creating dozens of new APIs per day. The forward-pull of digitaltransformation is kicking in.
Yet in the age of Big Data and digitaltransformation many organizations still don’t do this very well. For a full drill down, give a listen to the accompanying podcast. Here are key takeaways: Security benefits Protect the data itself. Sounds simple enough.
Together, we’re engaging enterprises of all sizes in leveraging the Salt API security platform to protect the API-based applications and services enabling digitaltransformation and so much other business innovation today. Customers including Takeda Pharmaceuticals, AON, Amway, Ally Bank, Equinix, Finastra, and DeinDeal.
The digitaltransformation has changed how the world does business. Digitaltransformation can and does deliver increased efficiencies, improved decision-making, lower costs, improved reach, and higher profits. FinancialServices.
They must harness all that data to compete in the rapidly evolving global financialservices ecosystem. BNP Paribas is accelerating its digitaltransformation journey to build the European bank of reference.” .
As federal agencies accelerate their digitaltransformations, development in the cloud is rapidly expanding. As the innovator and market leader, Aqua is poised to be the best partner to securely navigate digitaltransformations. As a result, threat actors are shifting their focus to the cloud as well,” said Smith.
In the financialservices industry, the opposing dynamics of fintech companies and banking organizations create the perfect storm of risk. Our journey of digitaltransformation is a strategic enabler for all of our commitments with regards to the positive social impact we want to create.
The IBM 2023 Cost of a Data Breach Report , for example, highlights the continuous financial burden on retailers, which, coupled with potential reputational damage, emphasizes the dire need for retailers to prioritize and bolster their cybersecurity measures. However, the security of data in the cloud is a growing challenge.
However, as important as PCI may be, United States financialservices organizations operate in one of the worlds most stringent and complex compliance landscapes. Understanding the US FinServ Compliance Landscape The US financialservices industry is subject to a vast number of laws and regulations.
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