Solutions – Industries – Financial Services

Providing Mission-Critical Security Operations to an Interconnected Industry

Scaling Cybersecurity for the Financial Services Industry

Financial service organizations face a growing challenge. Their customers expect 24×7 access and self-service convenience, meaning these orgs must move to the cloud and embrace new technologies, all while securing growing attack surfaces and achieving and maintaining compliance. This is a hurdle too high to clear for most organizations.

By the Numbers

Banks, credit unions, and other financial services organizations are the ultimate prize for hackers and cybercriminals seeking monetary gain. ​

Competitive pressures are driving financial organizations to further expand the range of products and information services they offer, making their systems more open and accessible from a wider range of devices and locations. This combination of resource-rich targets, mission-critical systems, and accessible environments make a tempting target to cybercriminals who see financial services organizations as potentially massive paydays.

Financial services firms are 300 times as likely as other companies to be targeted by a cyber attack. ​
Nearly two-thirds of the US population now uses digital banking, a trend that was helped by the pandemic. As financial institutions expose more services online, the risk of compromise grows.
47% of executives at financial institutions said security operations are more difficult today than they were just two years ago. ​
The financial services industry suffered the second highest average total cost per data breach, averaging $5.72 million in 2021, according to IBM.

Customer Testimonial

“Cybersecurity threats continually transform and mature. Arctic Wolf, however, delivers the tools and expertise to continually monitor our environment and alert on these threats. I rest easier knowing our operations are monitored 24×7 with Arctic Wolf.”
AJ Tasker, Vice President and Director of IT, First United Bank & Trust
Struggling to navigate the complex world of compliance?

The financial sector is heavily targeted by cybercriminals, who typically go where the money is. In response, several government agencies aim to protect consumer information — from the Gramm-Leach-Bliley Act to the FFIEC Cybersecurity Assessment Tool to the Sarbanes-Oxley Act it can be difficult to know how frameworks and regulations apply to your organization.

Navigate the complex world of compliance and explore our interactive map.

Additional Resources For

Financial Services Organizations