The financial sector remains a high-priority target for nefarious cyber actors seeking to exploit these targets for monetary gain. Cybercriminals have continually demonstrated the capability to exploit this sector through innovative and persistent methods. In 2021, organizations like Morgan Stanley American Express, Bitmart, and Neiman Marcus all fell victim to attacks that saw hackers successfully circumvent traditional security defenses. Increased customer use of mobile technologies for financial transactions only increases the threats financial services face in the future. Any potential compromises in the financial transaction process risk undermining customer confidence.
When it comes to securing important data and information resources, organizations may suffer from the inability to implement the right technology and security solutions to meet their needs. They may even find it difficult to meet regulatory and/or compliance measures as set forth by their industry. Cloud services provide an immediate solution to such challenges and provide three ways in which financial companies can benefit from their offerings.
- Secure Important Data:
The current cyber security climate is one in which sophisticated hackers target organizations at a whim, often successfully exploiting them for huge financial profit. Cloud services such as the ones provided by Cloud Carib offer a variety of security services that can be tailored to suit a specific company’s needs. Storing critical data in a cloud-based data center provides the customer with all the resources needed to build and manage a secure or hybrid cloud environment without the expense of running and maintaining the infrastructure.
- Tailor the Cloud to Your Organization:
Financial companies often have unique technology needs that support their business operations. As such, cloud offerings can be tailored to meet those requirements. Whether it be a public, private, or hybrid cloud environment, financial companies can determine which solution is best positioned to enhance their organization's day-to-day operations, while providing them the flexibility to be able to leverage a different solution should the business change.
- Preserve Continuity of Operations:
Today’s cyber environment has shown that not all actors are looking to steal data; some are content to destroy it, manipulate it, or hold it for ransom. It is imperative that data critical to maintaining business operations be not only protected but also recoverable in case of an emergency. Cloud solutions provide the ability to not only access but recover data lost to natural disasters, hostile actor malfeasance, or technological shortcomings.
Now more than ever, companies rely on information and maintaining the integrity of that information to conduct business worldwide. This is doubly true for the financial sector where organizations must ensure that the very processes on which this information passes maintain its confidentiality and availability. In the unpredictability that is cyberspace, having reliable and customizable cloud-based solutions is the best way to keep resilient against dynamic threats.