Armis Centrix™ for Financial Services
A Proactive Approach to Risk Reduction and Operational Resilience
More Cyber Attacks, More Regulations
Financial services face a heightened risk of cyber attacks, with 41% reporting two breaches last year, according to The 2024 Armis Cyberwarfare Report. This is due to the sensitive data they handle and the appeal of potential financial gains from breaches. 46% of financial services and insurance companies have stalled or disrupted digital transformation projects due to cyberwarfare risks. Digital transformation, while beneficial with innovations like AI investment platforms, digital banking, and increasingly digitized Building Management Systems (BMS) designed for an optimal, data-driven employee experience, has expanded the attack surface, increasing vulnerabilities.
Shift the Focus to Mitigating Risk
The average financial institution utilizes 76 different systems to manage their cybersecurity operations. This data complexity forces institutions to rely on manual methods, like spreadsheets, to aggregate and share information. This causes limited asset visibility and insufficient context across systems. However, their largest demand on resources remain the pressure to meet compliance requirements. This reactive approach – prioritizing compliance over risk mitigation – leaves institutions increasingly vulnerable and focusing on the wrong priority.