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Cybersecurity For Finance

Eight in 10 adult U.S. citizens worry that businesses cannot secure their financial information, according to the American Institute of CPAs. They’re not wrong. In 2019, 21% of sensitive files in the financial services were exposed, and stolen cardholder data remains captured for an average of 127 days, reports SecurityMetrics. Financial data breaches don’t just harm the customer; security breaches cost financial institutions their reputation, valued customers, and an average of $5.85 million per breach, reports IBM. That’s why cyber security and finance must be married til death do they part.

Cybersecurity For Finance

Eight in 10 adult U.S. citizens worry that businesses cannot secure their financial information, according to the American Institute of CPAs. They’re not wrong. In 2019, 21% of sensitive files in the financial services were exposed, and stolen cardholder data remains captured for an average of 127 days, reports SecurityMetrics. Financial data breaches don’t just harm the customer; security breaches cost financial institutions their reputation, valued customers, and an average of $5.85 million per breach, reports IBM. That’s why cyber security and finance must be married til death do they part.

What is cybersecurity in the financial sector?

The financial industry’s cybersecurity services encompass the technologies, processes, and security awareness training that secure infrastructure, safeguard wealth data, and protect consumers. A managed service provider assesses all systems for vulnerabilities and patches applications with the latest software updates to fortify weaknesses. Incident response validates and eradicates threats, while cloud backup and disaster recovery ensure finance business continuity.

How can cybersecurity in your financial institution help?

Cybersecurity defends financial institutions from the barrage of cyberattacks, and if a cyberthreat penetrates the systems, an incident response plan can make all the difference. A 2019 simulation survey found that companies with incident response plans saved an average of $2 million per data breach. NexusTek’s IT consultants can work with your bank or financial firm to select a managed cybersecurity plan best for your business that offers incident response and remediation services to quickly validate and eliminate threats.

Benefits of NexusTek’s Cybersecurity for Finance

Protect finance systems and sensitive data from cyber threats with NexusTek’s managed Cybersecurity Solutions, including vulnerability scans, attentive monitoring, frequent patches and updates, and 24/7/365 support services from our IT experts.  

Supplement your Financial Institution with a Cybersecurity Provider to:

  • Protect wealth data and applications from increased cyberattacks with regular assessments.
  • Educate your employees on common social engineering tactics to beware.
  • Prevent costly financial data breaches with 24/7 monitoring and minimize damage with incident response.

Enhance finance security with NexusTek.