Industry review


Solve the strategic security issues faced by the financial services industry with MWR

The financial services sector is currently experiencing a number of once-in-a-generation challenges, driven by advancing technology, shifting consumer habits and geopolitical events.

Following the 2007 global financial crisis, banks have now been recognised by governments as Critical National Infrastructure and as such, now face increased regulation and compliance in a number of areas.

Whilst the internet and mobile have presented new avenues for banks to service their customers, they are also introducing new competition from startups and tech brands looking to disrupt the traditional banking model.

Within this landscape, the financial services industry is seeing its cost base grow whilst being expected to be at the forefront of technological innovation, all under increasing scrutiny from the media, public and government. This means that banks and other financial services organizations must now deliver class-leading digital services in order to remain competitive.

The Cyber Threat

In the midst of these changes, the financial sector is also increasingly being targeted by cyber-attacks from every tier of hostile actor, including organised crime, terrorists and nation states.

Perhaps surprisingly, financial gain is only one of many motivations for attacking the financial sector. Some of the most sophisticated cyber attacks – backed by nation states – are carried out with the simple aim of crippling the financial institution’s business functions, and hence causing harm to the wider system.

Due to the speed of these changes, traditional cyber security measures have been found wanting, as evidenced by the torrent of cyber breaches reported regularly. Forward-thinking organizations must build on the effective parts of their cyber security programmes with practical solutions in order to stay one step ahead.

Security is now, and has always been, top priority for banks but it is becoming ever more vital for organizations in the financial services sector to recognise and react to the rapidly-changing cyber risks they are now facing.

Move forward with MWR

Using the research–led approach that allows us to understand and respond to the cyber threats to the sector, MWR has been keeping global financial institutions secure for the past decade. In this time, we have developed highly-effective security solutions for the banking sector, enabling organizations to embrace new technologies, identify strategic risks and protect their most critical IT components. These should flow from your overall cyber security strategy, something that we can use our unique experience to ensure is fully aligned to your business risk appetite and threat profile. Effective cyber security strategies within the sector include the following key components:

  • Implement Effective Controls

By taking a threat-based approach, MWR can help you build a realistic view of your security posture, adopting programmes that are highly effective in practice.

An example of this is Attack Path Mapping, a unique solution that uses the assessment of real-world attack methods to determine the risk to your most critical assets, providing your organization with actionable intelligence that can be used to mitigate risks.

  • Innovate securely

 With solutions delivered by award-winning consultants within MWR’s Mobile Security and Security Assurance practices, we can help you create, develop and iterate your digital services securely. This allows you to harness the power of the web and mobile to deliver cutting-edge services for your customers.

By working closely with you, we ensure your App development team is equipped with the skills and knowledge to build the right security controls into the core of all your solutions.

  • Improve resilience to APT

Experience has taught us that if your business can resist targeted cyber attacks from advanced nation states, it can resist cyber attacks from almost all threat actors.

With strategic solutions such as Targeted Attack Simulations and Countercept, delivered by consultants that truly understand the mind of an attacker, banking organizations can be safe in the knowledge they are using the most advanced defenses to resist the most advanced attackers.

Taking steps to secure your customer and financial data will protect your brand reputation and profitability, so it makes sense to work with an independent security organization you can trust.

These are just a number of solutions offered by MWR to help financial services overcome the security challenges they are facing.

Please visit our Practice pages for a more comprehensive view of our capabilities.



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