Albany, NY -- (SBWIRE) -- 12/27/2017 -- "AN 'IT PROBLEM' BECOMES A STRATEGIC BUSINESS PROBLEM"
In today's digital world where security breaches and cyberattacks are reported daily against banks, retail chains, and financial services enterprises which calls for a burning need to implement effective financial services cybersecurity systems.
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Which platforms are vulnerable?: There's an increase in cyber-attacks on IOT devices. IOT devices can have access to, or provide a link to some of our most sensitive personal data, such as banking and financial information. Also, Cloud providers generally do not guarantee the security of data stored in their cloud, and or may limit their contractual exposure. Similarly, Data breaches are a key business risk. Also, As mobile and digital technologies get more complex and grow in use, the risks associated with these platforms also increases.
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How we face it: Each firm shall maintain a cybersecurity program designed to protect the confidentiality, integrity and availability of its Information System, Identify and assess internal and external cyber risks that may threaten the security or integrity, Use defensive infrastructure, Detect cybersecurity events, Recover from cybersecurity events and restore normal operations and services.
The financial services cybersecurity systems and services market is prophesied to up its growth in the near future globally and estimated to earn an approximately US$24.3 bn by the end of forecast period. By end user market is anticipated to be grouped into banking, insurance, credit unions, stock brokerages, stock exchange, investment funds, consumer financing services, payment card and mobile payment services, and government-related financial services. As per the analysis, the financial services cybersecurity systems and services market could witness the dominance of the mobile enterprise management segment by solution and services globally.