Sensitive Data Discovery Across the Enterprise and the Cloud
Despite increased technology spend and emerging regulation, Financial Services remain one of the most breached industries. Due to the value of the personally identifiable information (PII) and financial information (PCI) on clients and the trading algorithms and formulas (IP), breaches will remain a major burden on the market.
Risks from the outside are increasing in volume and sophistication; internal breaches can be difficult to spot in the rapid and global financial services world.
Despite increased technology spend and emerging regulation, Financial Services remain one of the most breached industries. Due to the value of the personally identifiable information (PII) and financial information (PCI) on clients and the trading algorithms and formulas (IP), breaches will remain a major burden on the market.
Risks from the outside are increasing in volume and sophistication; internal breaches can be difficult to spot in the rapid and global financial services world.
Financial Services firms could incur nearly US$700 billion in additional costs and lost revenue over the next five years due to cyberattacks, as dependency on complex internet enabled business models outpaces the ability to introduce adequate safeguards that protect critical assets.
(Source: Securing the Digital Economy: Reinventing the Internet for Trust – Accenture Research, January 2019)
Key Challenges
Regulatory Pressure
Compliance requirements such as GDPR, SOX, GLBA, and NYDFS demand that sensitive data be protected.
Consumer Expectations
To establish trust and meet customer’s needs, financial services firms need both digital innovation and data privacy controls.
Malware
Any form of malicious software that infects a business’ network, such as ransomware, keyloggers and spyware needs to be detected and remediated quickly.
Insider Threats
Employees, either by malice or mistake, can leak sensitive data exposing the organization to penalties and reputational damage.
External Threats
Cyber criminals compromise trusted service providers, payment partners, and contractors to gain backdoor access to sensitive data.
Visibility into What Data to Protect
Understanding of What Data is at Risk
Enforcement and Education with Flexible & Automated Controls
Support for Evolving Compliance Regulations
Secure Your Sensitive Assets Against Insider and Outsider Threats
Retail Banking
- Personally Identifiable Information (PII)
- Payment Card Industry Data Security Standard (PCI DSS)
Commercial Banking
- Personally Identifiable Information (PII)
- Payment Card Industry Data Security Standard (PCI DSS)
Investment Services
- Personally Identifiable Information (PII)
- Intellectual Property (IP): Deal management information, trading algorithms, financial modelling, IPO plans, M&A plans
Insurance
- Personally Identifiable Information (PII)
- Payment Card Industry Data Security Standard (PCI DSS)
- Protected Health Information (PHI)
- Intellectual Property (IP): actuarial models, patents