Banking, Finance & Insurance(BFSI)

The BFSI sector is one of the critical infrastructure segments that suffers several data breaches and cyber attacks, owing to the large customer base that the industry serves and the financial information that is at stake. The financial service institutions have been identified to be four times more susceptible to cyber attacks, as compared to other industries, which is expected to drive the demand for such solutions.

Data breaches lead to an exponential rise in costs and loss of valuable customer information. For instance, Taiwan’s Far Eastern International Bank incurred a loss of around USD 60 million, as hackers introduced malware into the servers by abusing the SWIFT banking network.

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With greater customer expectation, growing technological capabilities and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security.

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With greater customer expectation, growing technological capabilities and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security.

A recent study of 400 global bank executives found that approximately 71% of them focus on digital investments on cybersecurity. At the same time, cybercriminals are using increasingly sophisticated range of tactics. Denial of services and phishing and social engineering are the two most expensive attack types for financial services firms.

CNS Comnet is a pioneer in helping financial businesses to adapt their security strategies – to defend their systems and data against advanced threats and targeted attacks – assisted by our world-leading security intelligence experts. We help organizations like yours to mitigate the risks, detect attacks at an earlier stage, deal with live attacks and improve protection against future attacks.

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