Financial Security Services
Financial Institutions (FIs) are investing in the tools and technologies they need to keep up with the constant change of the digital era. Many of these FIs are rapidly leveraging cloud technologies to deliver enhanced products and services to their clients. The next wave of disruptive innovation is expected to arise from the technology-enabled, platform driven ecosystems now taking shape across many different industries.
Having strategically harnessed technology to produce digital businesses, many companies are now creating the adaptable, scalable, and interconnected platform for an ecosystem-based digital economy. The speed at which newer technologies are being adopted by FIs significantly add to the security and compliance risks that need to be managed.
Unfortunately, the fast changes in the digital economy have also introduced intimidating risks. The financial services industry is under attack by numerous significant cybercriminal threats. In many cases where certain systems were breached, the method of compromise was attributed to simple configuration errors or missed patches that, in turn, gave rise to a critical vulnerability. Given the constant competitive pressure and the current economic strain to operate more efficiently, due care to address security risks is more challenging than ever.
The already heavily regulated finance industry is now subject to additional cybersecurity standards from the NYDFS, NAIC, and CFTC. The Fed, OCC, and FDIC also continue to issue rule-making guidance on cyber risk management standards. As attacks become more sophisticated, regulators retaliate by raising their level of scrutiny, while global cybersecurity and privacy legislation are evolving.
Not As Secure
With such strict data security and privacy regulations, it is easy to assume that the finance sector would be among the most secure when discussing global vertical markets. However, reality paints an entirely different picture, as many millions of personally identifiable information (PII) records are compromised each year.
Assessing the state and security posture protecting Financial Service products/services has never been more important. Architecting preventive controls is essential, and implementing detective controls and processes are just as crucial.
In lieu of allocating resources to implement appropriate preventative controls, penetration testing is one alternative detective control that can expose sneaky areas of risk created when hastened application development and/or overburdened system administrators inadvertently create vulnerabilities. Penetration Testing is also a fundamental security standard requirement for Financial Institutions.
Orenda Security is uniquely positioned to assist Financial Institutions. Our assessment and penetration testing services are designed to help you comply with standard and regulatory requirements but more importantly, to help you identify critical vulnerabilities that could lead to a significant data breach. Our security consultants are well experienced in the Financial Services industry and strongly acquainted with the security challenges experienced by the FIs’ clients and service providers. When it comes to our unique approach to delivering expert security services while establishing strong partnership with our clients, we are unmatched in the industry.
Your Trusted Advisor
As your trusted security advisors, we specialize in more than just identifying security risks. We help you understand how the identified risks apply to your business products and services. Our reports are also customized to help your technical staff quickly remediate issues and provide you with an executive summary, serving C-level and board members. Client-facing summaries are also provided to assure your clients that security testing is performed. Onsite presentations to your executive team to present findings and articulate business risks are unique value-adds in our delivery.
Our experts will help you identify potential vulnerabilities and implement a comprehensive data breach prevention program. We promote industry best practices to effectively secure your sensitive information and help you effectively respond to security incidents.
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BEHIND ORENDA SECURITY ®
Orenda Security ® is an elite information security firm founded on a spirit of integrity and partnership with our staff, and most importantly, our clients.