Financial services companies are becoming more digital. With most employees working from home due to Covid-19, digital transformation is accelerating. Cyber security must be a major priority. Security teams and chief security officers (CISO’s) need to put measures in place to protect against cyber-attacks. Since the Covid-19 outbreak there has been a surge in phishing, fraud schemes, and third-party cybercrimes. The uptick in cybercrime for financial services companies is described by the New York State Department of Financial Services.

Even before Covid hit, most financial service companies were increasing their spending on cybersecurity. End point security, identity and access management (IAM), and cyber monitoring are among top investments. To protect against cyber threats, financial service companies are implementing new technologies. The cloud has been a top technology investment for large financial institutions. Data analytics and automation are also top investment priorities for cybersecurity.

One of the biggest challenges with cyber security projects if finding supporting talent. Deloitte recently published a report that goes into detail about the talent shortage in cyber security. I have experienced this firsthand managing digital security projects. Finding top digital security talent is very challenging.

If your company needs support for you cyber security projects, MacIsaac Consulting can help. We are skilled and certified digital security consultants who provide support for identity and access management (IAM) and privileged access management projects. We have done implementations for technologies including SailPoint IIQ, ForgeRock, and CyberArk.

Do not waste time putting your company at risk. In a post Covid word, cyber threats are only increasing, especially for financial services companies. For more on how we can help, contact us. We are here to be your trusted cyber security partner.

MacIsaac Consulting is proud to be minority (MBE) and woman owned (WBENC) certified!

Mike MacIsaac is a principal consultant for MacIsaac Consulting. Follow Mike @MikeMacIsaac or subscribe to the MacIsaac Consulting blog.