Why financial services need Confidence as a Service™
increase in cyber attacks on financial services from 2019 to 2020
average cost of a data breach in the financial sector in 2020
of all phishing attacks in 2020 targeted the financial sector
increase in financial sector ransomware attacks in 2020
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It is particularly crucial for financial services, such as banking, investment management, and insurance, to work with a company like North Bridge to help manage their cyber risk and compliance. The financial industry handles sensitive customer data and substantial monetary assets, making it an attractive target for cybercriminals. In addition, financial organizations must comply with regulations like GDPR, CCPA, and industry-specific laws such as GLBA and PCI-DSS, which require them to protect customer data and ensure its confidentiality.
Working with a specialized cybersecurity and compliance company like North Bridge can help financial service providers protect themselves from cyber threats and ensure compliance with applicable data protection and financial regulations. North Bridge can assist financial service providers in identifying potential vulnerabilities in their systems and implement measures to mitigate those risks.
Moreover, North Bridge can help financial service providers navigate the complex compliance requirements of the financial industry and ensure that they are in compliance with all relevant regulations. This can save financial service providers time and resources that would otherwise be spent trying to understand and comply with these regulations independently.
Furthermore, working with a company like North Bridge can provide financial service providers with access to a team of experts who can offer ongoing support and guidance. This can be particularly valuable for smaller financial organizations that may not have the resources or expertise in-house to effectively manage their cyber risk and compliance.