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Phoenix TechnoCyber: Application Security
FINANCIAL SERVICES

Cyber Security for Finance

Financial institutions hold vast quantities of high value information, including client data, banking records, proprietary research and trading algorithms, which is at constant risk of being compromised.

In the face of growing threats, and under pressure from regulators, trading partners and customers, it is vital that organisations such as banks, hedge funds, wealth management firms and private equity houses make the right security investments to ensure that this data is fully protected.

Common cyber security challenges in the financial services sector include

  • •   Defending growing and increasingly fragmented network infrastructure
  • •   Integrating new technologies alongside legacy systems
  • •   Balancing system accessibility with security
  • •   Minimising the financial and reputational damage of breaches
  • •   Achieving compliance with the GDPR, SWIFT CSP and FCA regulations
Key security questions for financial services organisations

  • •   How often is digital infrastructure tested for vulnerabilities?

  • •   Are systems able to identify threats that bypass the perimeter?

  • •   Are staff sufficiently trained on information security risk?

  • •   Is there a plan in place to detect, remediate and report breaches?

  • •   What systems and controls are in place to mitigate insider threats?

  • •   How is the personal data of clients processed and protected?

  • •   Is operational resilience regularly assessed?

  • •   How will services be affected in the event of a cyber incident?

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