Staying ahead in the financial sector isn’t easy. The financial services industry is one of the most heavily regulated and the regulatory landscape is constantly shifting. Organizations in the financial sector must also be prepared for security threats; financial firms are 300% more likely to be targeted by a cyber attack than other organizations and have one of the highest average costs of a breach.
Infracore is here to help you invest in modern infrastructure that delivers security, efficiency, and real-time reporting. With our help, you will spend less time and fewer resources on IT and make it the asset it should be.
Rapid digitalization, the rise of remote working, and increasing cloud adoption have created the perfect storm to make financial services organizations at great risk of cyber attacks. Adopting effective IT security protocols and meeting regulatory requirements is difficult enough, but the human factor adds additional challenges. Almost half of security incidents in the financial industry happen when employees do not follow company policies. This is especially true with mid-sized financial organizations.
The average cost of a data breach in the financial industry reached $5.97 million in 2022 according to a 12-month IBM Security study, the second highest among all industries. Data breaches can result in the loss of anywhere from 2,000 to more than 100,000 records. The average cost of a breach was $164 per breached record but $210 per record for the financial industry which often faces exposure of sensitive customer data and financial records in a breach.
Technology should be an asset that simplifies operations and helps you innovate and compete. If it feels more like just another challenge your business is facing, Infracore can help.
Whether you are interested in optimizing your infrastructure, strengthening your security, launching a new IT project, or benefiting from an on-demand IT team to free up resources, we have a solution that’s the right fit.
Infracore will put decades of experience and regulatory knowledge to work to deliver financial services IT solutions that make an impact. Get in touch with our team today to discuss how we can help your organization get the most benefit from modern IT solutions.