Symmetry Systems for

Financial Services and Insurance

Protecting Customer and Financial Data

Financial services and insurance organizations, and the data they manage, have been high-value targets for threat actors for decades. While tremendous efforts have been made by financial services cybersecurity teams and insurance cyber security teams to fortify their defenses, they are designed to protect the perimeter, not the sensitive data threat actors are aiming to obtain.

Security and privacy teams need to focus on a data-centric way to manage the security posture of their data, not environments.

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Protect Customer and Financial Data

Numerous data privacy regulations are popping up worldwide, and keeping up with all data security and compliance challenges has never been more difficult. Plus, new technologies continue to emerge, creating advantages for those that can deploy them. But those who do so without a handle on their data’s security could find themselves dealing with expensive compliance ramifications or privacy clean-up impacts.

Financial Services and Insurance Data Security Challenges

FinTech Compliance and Data Privacy Impacts
Maintaining Security During Cloud Transition
FinTech Competition
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FinTech Compliance and Data Privacy Impacts

Organizations lose approximately $4 million in revenue due to a single data non-compliance event

Most financial services and insurance organizations operate across multiple jurisdictions and borders and are challenged to maintain applicable compliance programs such as PCI DSS, FFIEC, FINRA, NCUA-CAP, GLBA, SOX, SOC 1, etc.

They also need to keep pace and compliance with various evolving privacy law requirements—GDPR, CCPA, LGDP, and more.

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Maintaining Security During Cloud Transition

While financial organizations transition to a hybrid cloud environment, the dormant data accumulated from legacy systems creates massive risks. Threat actors continuously exploit this risk, as reflected in the 36 percent increased average cost per breach of $5.85 million that the industry experienced in 2021.

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FinTech Competition

Additionally, a new wave of competition from small, nimble, FinTech competitors is forcing financial services organizations to accelerate the adoption of differentiated digital banking experiences while maintaining compliance and security.

Achieve Comprehensive Data Security with DataGuard

Financial services and insurance cybersecurity teams use DataGuard to develop a complete understanding of what data they have, where it is located, who has access to it, how it is secured, and in what manner it has been used.

With DataGuard DSPM, financial services, and insurance can:
  • Sustain and maintain pace with evolving regulatory requirements while differentiating services from the competition.
  • Mitigate insider threats and third-party vendor risks through the detection and rapid response to anomalies.
  • Gain visibility and effectively manage data security posture, e.g., detecting dormant data, while transitioning to hybrid cloud operations.
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Enforce Data Security Best Practices

Identify

  • Discover sensitive data, even where you didn’t know you had it
  • Understand who has access to which sensitive data in your on-premise and multi-cloud data stores

Visualize and Detect

  • View a data map to quickly identify violations of least privilege for data access to simplify zero trust strategies
  • Detect and control out-of-country data operations and maintain compliance with privacy regulations

Protect

  • Minimize the cost and risk of data exposure by reducing access to dormant data
  • Improve the security posture of your sensitive data and cloud data stores

Respond and Recover

  • Minimize the cost and risk of data exposure associated with cloud data stores
  • Reduce time to detect and remediate data security issues to minimize data breach cost
Financial Services and Insurance Solution Brief

Download our Financial Services and Insurance Industry Solution Brief

Numerous data privacy regulations are popping up worldwide, and keeping up with all data security and compliance challenges has never been more difficult. Plus, new technologies continue to emerge, creating advantages for those that can deploy them. But those who do so without a handle on their data’s security could find themselves dealing with expensive compliance ramifications or privacy clean-up impacts.

Download Brief

Learn more about Symmetry Systems for

Financial Services and Insurance

Symmetry Systems’ DataGuard solution enables businesses to visualize their data security posture and associated data risks across AWS, GCP, Azure, and on-premise environments—without data having to leave their environment.

Fill out the form below to get a personalized demo from one of our security experts.

Secure your data nowwith Symmetry.

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