Post-Pandemic Technology & Cyber Security Trends in Banking – Part 2

Post-Pandemic Technology & Cyber Security Trends in Banking – Part 2 In this second part of our review of key cyber and security-related technology trends in banking in the post-pandemic world, we look at the top cyber threats targeting banking and financial services organisations in 2021. We also look at some of the emerging cyber technologies being adopted and considered by banking and financial services organisations around the world. Over the last decade, cyber attacks have become an ever-growing threat for banks. Technology has advanced rapidly and threat actors have learned that banks are a lucrative target. Threat actors have evolved their techniques to make it difficult for any company to fend off the attacks. Cybersecurity is not an issue limited to industries involving technology only. It holds a critical value in banking since banks make millions of transactions each day, most of which are done on digital payment platforms. Without

By |2021-06-30T13:14:03+00:00June 30th, 2021|Blog|0 Comments

Post-Pandemic Technology & Cyber Security Trends in Banking – Part 1

Post-Pandemic Technology & Cyber Security Trends in Banking - Part 1 The banking sector is in the midst of a digital transformation that is causing its attack surface to grow, exposing organisations to increased levels of cyber threat activity. As more organisations adopt digital banking solutions, having effective cybersecurity programs has become more important than ever before for the banking industry. In this article we explore the post-pandemic technology and cyber security trends in banking.   Elasticito was recently approached by a financial services firm to provide some analysis on new technology and cyber trends within the banking and financial services industry.  A summary of our findings make up this blog post, but one common theme that we observed was that, despite the pandemic, the unstoppable momentum of digital transformation is causing a huge impact in the way that banking services are and will be delivered to customers over the

By |2021-06-23T15:56:32+00:00June 23rd, 2021|Blog|0 Comments

Security Assessment Questionnaire Response Automation

Making the case for Security Assessment Questionnaire Response Automation Business partnerships require trust – without it, success is very difficult to attain. In the current business landscape, however, it's increasingly difficult to tell whether a vendor is trustworthy and deserving of that trust. As information technology becomes more advanced, so do the ways in which trust can be broken. Today, the potential for intentional or unintentional breakage of it has increased multifold. Assessing security risk with questionnaires is one method to effectively understand the security risk that a vendor may pose to the business, particularly if you entrust them with your data. If you are reading this article, you’ve more than likely handled your fair share of security assessment questionnaires. Like us, you are probably frustrated by the entire process too. We would like to make the case for automated security questionnaires in the article below. The traditional approach to

By |2021-05-25T14:25:29+00:00May 25th, 2021|Blog|0 Comments

A better way to conduct security assessments?

A better way to conduct security assessments? The vendor security assessment process is too long, inefficient and time consuming.  A much better way to perform vendor security assessments would be to use the body of unbiased content that already exists in most companies: the security policy. Here we show you how. The traditional approach to security assessments In 2020, the global average cost of a data breach was $3.86 million, according to Ponemon’s Cost of a Data Breach Report. The report also notes that should a third party cause the data breach, the cost will increase — by more than $370,000. It is no wonder that in the wake of GDPR and large data breaches, organisations require due diligence from their third party vendors, usually in the form of security questionnaires. A security questionnaire assesses your, a vendor or third party's technology systems, physical security and policies. As illustrated in

By |2021-04-08T07:19:28+00:00February 11th, 2021|Blog|0 Comments