Consumers and shareholders demand innovation from financial services, and the industry has risen to the occasion. But the digital transformation required to meet customer demand at scale must be balanced with security in the cloud. And in such a highly regulated sector, this can be a challenge.
We’re here to help. We’ve curated resources, interviewed subject matter experts, and tapped into our own internal knowledge to create a complete hub of insights into the cloud security landscape specifically for financial services. Let’s rebalance your security portfolio together.
Finserv and the Cloud: Laying Secure Foundations While Empowering Transformation
When it comes to financial services, “out with the old, in with the new” is probably not the most helpful saying. In an industry with deep historic roots, companies are often saddled with legacy systems and tech debt that can’t be erased overnight (or ever), while simultaneously pursuing the benefits of digital transformation and the Cloud. Rapid7’s VP of Strategic Enablement, Cloud Security, Peter Scott, sat down with guest security leaders to discuss the challenges that cloud security poses to financial services companies.
Balance Innovation and Security in the Cloud
Financial services organizations face immense pressures when it comes to the cloud. Some of the biggest challenges include:
- Learning how to embrace the speed of the cloud to innovate quickly without sacrificing security
- Navigating complexities related to legacy tech infrastructure and multicloud environments
- Maintaining compliance with industry requirements
It all boils down to one question: Can you move as fast as your customers demand without creating more risk?
Manage Cloud Security at Scale with Automation
Finserv companies have complex and dynamic cloud environments with tons of stakeholders making changes, deploying new software, and producing rebuilds every hour. As a result, traditional and manual approaches to identifying and remediating risk don’t work anymore.
Enter automation. In a recent survey we conducted, we found that 86% of financial services companies trust automation the same or even more than humans. But the significant challenge organizations face is putting automation into action. Even if automated remediation is the end goal, you need to know the steps to take to get there. Read our guide, The 4 Levels of Automated Remediation, to learn more.
Simplify Compliance and Security Audits in the Cloud
In highly regulated industries, you need complete visibility and control across your multicloud infrastructure. A single source of truth can not only simplify your security ecosystem, but also make achieving continuous compliance and conducting audits dramatically easier.
Check out this guide on Cloud Security and Compliance Guidelines for Financial Services Organizations to learn more. Or go beyond compliance standards for complete security with our blog Compliance: The Ultimate Frenemy of Financial Services.
Achieve Security by Design With Infrastructure as Code
The dynamic nature of the cloud brings an overwhelming volume of potential threats, and security teams struggle to keep up using a reactive approach. The best way to manage security in the cloud is to design systems that are foundationally secure, so you can prevent problems before they occur.
Enter infrastructure as code (IaC). IaC templates allow teams to shift security left, identifying and fixing issues earlier in development cycles, and creating a low-friction culture that keeps engineers agile and happy. Visit our blog to learn more.
Navigate Technical Debt in Large Organizations
After decades of mergers and acquisitions, financial services organizations unknowingly obtained a vast amount of technical debt. There is a high volume of outdated technology and legacy systems that are still in operation, some of which could present a major risk to the entire economy if they were shut down.
So how do you manage this technical debt while still leveraging the speed and flexibility of the cloud? Read our interview with Security Expert and former CISO Anthony Johnson.
Multicloud Environments: Innovation Without Loss of Control
We caught up with Steve MacIntyre, VP Cloud Security for Enterprise Cloud Computing at Fidelity Investments, to discuss the strengths and weaknesses of Cloud Security Posture Management (CSPM), Cloud Workload Protection Platform (CWPP), Cloud Infrastructure Entitlement Management (CIEM), and the future of cloud-native security. Hear our collective experiences and predictions for the future of cloud security, and what it means for your organization.
Need a refresher? Read the Practical Guide to Gartner’s Cloud Security Archetypes.
