Cybersecurity for Financial Services

We help banking sector to centralize security programs, improve their risk profile and reduce the attack surface. We have programs to evaluate cyber security governance and identify cybersecurity operational challenges, help understand the risk and develop robust cybersecurity architecture. We help in policy and frame work development for banking sector and we have extensive experienced hand in NIST, PCI DSS, ISO, ISO 1-2, GLBA and FINRA and FinCEN.

Cyber Threats In The Banking Industry

We all have banking related applications in our smartphones. There are so many cyber-attacks in this industry. The biggest threats that banking industries facing today are unencrypted data: all data stored on computers within your banking institutions and online should be encrypted, malware attacks: end user devices that have been compromised by malware pose a risk to bank’s cyber security each time they connect with your network, third party services that are not secure: if the third-party vendors that bank depends don’t have good cyber security measures in place then it will make huge impact on bank also, data that has been manipulated, spoofing attacks.

We Improve the efficacy of enterprise cybersecurity capabilities

We Improve the efficacy of enterprise cybersecurity capabilities by developing strategies to address identified vulnerabilities in financial systems. Banking related financial services are now more focussed on mobile applications (Android, IOS). We conduct static analysis as well as dynamic analysis of mobile applications and report security bugs to our clients. We conduct penetration testing on both client side and server-side mobile banking applications. We follow OWASP Mobile Application Securtiy Testing Guidelines and owasp mobile application security verification standard to conduct penetration testing. We also suggest possible recommendations to fix the vulnerabilities identified during the penetration testing.

Secure development lifecycle

The most effective approach for developing banking applications or any applications is to follow a secure development lifecycle and take care of security right from the design and code level. There are several key regulatory standards that must be followed in order to conduct business. When building a cybersecurity compliance program, it is important to understand how each of these regulations impact day-to-day operations as that will dictate how you shape your compliance systems. We assist in the development of banking policy and frameworks, and we have vast experience with NIST, PCI DSS, ISO, ISO 1-2, GLBA, FINRA, and Fincen.

Digitalization in the banking industry

The growth in the digitalization in the banking industry has caused the industry’s potential attack surface to grow, exposing organizations to increased levels of cyberthreat activities. Therefore, there needs to be an infallible Cybersecurity framework that doesn’t compromise with the safety of customer’s and banking institution’s data and money. We assist the banking industry in centralising security initiatives, improving risk profiles, and reducing attack surfaces. We have programmes to assess cyber security governance and identify cybersecurity operational difficulties, as well as to assist in risk assessment and the development of robust cyber security architecture.
For details on Cybersecurity for Financial Services​, please contact us.