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Capital markets firms are driving innovation in cybersecurity as they need to improve their security posture with capabilities around security, governance, risk, and compliance.
FREMONT, CA: The advancement of technology has revolutionized human life but has also added new facets of a threat to the security, and capital market firms are no exception to it. Inability to predict and understand the mounting danger of cyber risks is affecting firms more than any other industry. To tackle them, capital market leaders should seek the right balance between risk, usability, resilience, and price.
Managing cybersecurity in the digital age requires a different blueprint to traditional methods of maintaining security. The mission is to create a multi-disciplinary approach that combines risk and compliance, information technology, and security capabilities and offer platforms that address the broad security needs of an organization. The security platforms typically cover solutions that include core security domains, operations, audit, review, and analytics. The advantage of a platform-based approach is its ability to bring deep specialization to cybersecurity and the standardization of policies and procedures.
Cyber threats are evolving in frequency and severity, making traditional approaches to security less effective. Along with a focus on fundamental aspects like updating patch management and stronger third-party risk and compliance procedures, emerging technologies can help orchestrate more effective cybersecurity strategies.
Artificial intelligence and machine learning algorithms can help in fast detection of threats and limiting their spread. Apart from this robotic process, automation can lower security-related efforts as it provides a zero-touch environment. Cloud has been helping firms address the risks and map regulatory requirements proactively with their cloud approach to ensure resilience and disaster recovery capabilities.
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As the exposure to vulnerability increases with the rising in connected systems, across users and verticals, this era of ubiquitous connectivity demands to be built on ripe cybersecurity. In this effort, the use of new security technologies has a significant role to play to emerge successfully.