The financial services industry is undergoing a sea change in how it does business. Today their customers expect 24×7 access, self-service convenience, apps that eliminate the need to visit brick-and-mortar locations, and always-available customer service accessed via phone, email, and the internet.
Making things even more challenging, financial sector leaders are embracing cloud technologies to save costs, support real-time analysis, and offer more personalized customer experiences. But for all the advancements the cloud enables, it presents new hurdles for organizations that must meet the stringent data security requirements imposed on the financial services industry.
And all this is occurring at the same time cybercrime is growing in frequency and scale, with threat actors finding new and nefarious ways to innovate and expand their attacks. Banks, credit unions, and other financial institutions are the ultimate prize for cybercriminals seeking monetary gain, thanks to the large amounts of money and data they accept, store, and move.
The industry’s shift to the cloud makes possible many exciting advancements, from mobile banking to the use of Artificial Intelligence (AI) and the Internet of Things (IoT) in fraud detection as well as monitoring of environmental, social, and governance (ESG) data. But cloud adoption also complicates already complicated security and compliance efforts, presenting additional platforms, systems, and endpoints that must be secured.
With revenue and reputation at stake, organizations are investing significant time, energy, and money in maintaining compliance. The scale of these investments increases with cloud adoption, which is accelerating across the industry.
As financial services organizations continue to leverage the cloud for more powerful, scalable, and agile operations, it’s more important than ever that they also implement a comprehensive security strategy that helps them obtain and maintain compliance.
In Arctic Wolf’s new compliance guide, Financial Data and the Cloud Compliance Guide, we reveal the steps you can take to strengthen your organization’s cloud security posture. These steps include leveraging cloud-native resources, building a comprehensive cloud security and compliance strategy, and bringing in the right expertise to make it all happen.
But that’s not all. You’ll learn:
- The six challenges you must address to build a compliant cloud
- What banking and insurance CIOs cite as the top obstacles when implementing a sound cloud security strategy
- The seven high-value benefits to your cloud adoption efforts provided by a concierge delivery model like Arctic Wolf’s