The identity security landscape has transformed considerably within the last two decades. And for good reason. Mitigating identity-related access risks has become essential as companies face threats every day, from virtually everywhere.
The impact of COVID-19 has been far-reaching across nearly every sector. But none has been so greatly disrupted as the healthcare industry. Managing through this crisis has required healthcare systems to expand some aspects of their workforce and redeploy others virtually overnight in order to transform the way they offer services to patients.
Financial services organizations today face extraordinary challenges in a dynamic, complex landscape. During the last two decades, the financial services sector has seen everything from increasing cybersecurity threats, data breaches, and cyberattacks to intensified regulatory compliance, an acceleration of digital transformation, and the pressure to increase operational efficiencies and decrease overall costs.
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Access-related risks represent one of the biggest obstacles organizations must address in a complex threat landscape—and they are lurking everywhere. Whether from changes in the business, like hiring, promotions, or transfers, from business growth and transformation, including M&A activity, corporate reorganizations, or new product introductions, from infrastructure changes, like new platforms, applications, and systems, or from insider threats, which can arise intentionally or unintentionally, access risks present a constant threat to the business.
Financial services organizations face numerous challenges in a constantly changing landscape. With increased cybersecurity threats, intensified regulatory requirements, an acceleration of digital transformation, large-scale mergers and acquisitions, and growing customer expectations, these organizations must pursue strategies and programs that mitigate risks, safeguard valuable data, and protect sensitive financial information within their organizations.
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With increased pressures of an expanded remote workforce during COVID-19, organizations are vulnerable when it comes to identity-related access risks from excessive entitlements and inappropriate access levels. When employees have more access than they need, it opens the organization up to serious breaches and gives new inroads to potential attackers.
Financial Services Organizations Face Extraordinary Challenges in a Dynamic, Complex Landscape
During the last two decades, the financial services sector has experienced increasing cybersecurity threats, data breaches, and cyberattacks. In fact, financial services companies are 300 times more likely than organizations in other sectors to experience cyberattacks.
“What won it for Core Security was the solution’s ease of implementation and simplicity, combined with the fact that it offers so much functionality behind the scenes.”