Driving Resiliency And Security In The Financial Services Industry

Increased Resiliency Is Crucial to the Long-Term Success of the Financial Services Industry The financial services industry is one of the biggest drivers of sustained economic health in America, helping to facilitate and finance the export of US manufactured goods, services, and agricultural products. According to the US Department of Commerce, the industry exported $114.5 billion and had a $40.8 billion surplus in the finance and insurance trade in 2017. The continued success of the financial services industry into the next decade and beyond requires more powerful IT solutions than ever before, with challenges posed by a rapidly-evolving global financial outlook, complex new security threats, and a changing regulatory landscape set to test even the industry’s biggest players. The nature of cyber threats facing financial services firms is changing fast as malicious actors develop increasingly-sophisticated methods. As part of their day-to-day operations, financial firms collect and manage massive amounts of sensitive personal data, which includes credit applications, banking details, private investment information, and more.

 

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