Financial services cybersecurity is crucial for safeguarding financial institutions and customer data from cyber threats. The proliferation of connected devices in financial services brings an increased level of uncontrolled risks. Presenting global regulatory compliance, audit, and network security challenges if left unchecked.
Visibility is the foundation to tackling such challenges. Complete asset visibility eliminates blind spots and provides entities with an accurate account of every connected asset. This is the premise for a reliable assessment of an asset’s risk level. Through which appropriate policies and controls are enforced to meet regulatory standards (new financial industry regulations). Existing solutions, such as NACs and IDSs, fail to provide comprehensive asset visibility. As a result, financial services cybersecurity is in a vulnerable position as they are unable to understand and control asset risks, which undermines their regulatory compliance.
Don’t be Fixated on Legacy Solutions
Legacy NAC solutions, used in financial institutions, do not provide visibility into a complete and accurate asset inventory. Rather, NACs “babysit” a predefined asset whitelist, only controlling what they already know. Establishing a whitelist is tedious and time-consuming. It is a never-ending project that demands frequent updates (Moving Beyond NACs).
These resource-heavy, labor-intensive set-up requirements make NACs unsuitable for largescale deployments. Allowing for visibility gaps that prevent the tool from enforcing policies and controlling assets effectively.
Financial Services Cybersecurity and Legacy Solutions
In the realm of Financial Institutions Cybersecurity, certain entities resort to passive network probing tools like IDS to address the limitations of NAC. However, these next gen solutions are an IT nightmare. Due to network dependencies and privacy issues, making them impractical to use at scale. In addition, the significant resource requirements and configuration changes cause cumbersome deployment challenges. Hindering widespread application across the dispersed network, leaving parts of the enterprise unprotected due to visibility gaps.
NAC and IDS blind spots get exploited by rogue devices, which take advantage of the gaps in visibility. Payment terminals and ATMs are particularly vulnerable to this financial service cybersecurity threat (ATM Jackpotting Attack). These malicious assets impersonate legitimate HIDs by manipulating physical attributes. Traffic-based security tools lack the visibility to differentiate between authentic and spoofed devices (hacked device). As a result, rogue devices gain access to ATMs without raising any security alarms. Leaving financial services cybersecurity vulnerable to costly attacks and in potential violation of regulatory compliance.
Sepio’s Platform for Financial Services Cybersecurity
In this context of financial services cybersecurity, Sepio’s unique trafficless approach enables infinite scalability across the entire asset ecosystem by eliminating the need for resource draining analyses. With no IT nightmares, no privacy infringements, and no compliance issues, the platform is easy to deploy and run.
True Asset Identity
Sepio analyzes the physical layer to generate a DNA profile for every known and shadow asset. Bringing a new dimension of visibility that closes the gaps of current solutions. The physical layer includes electrical, mechanical, and functional characteristics which provide agnostic visibility and objective truth. Assessing these physical properties means Sepio is untainted by misleading profile perceptions or behavioral assumptions. Every asset, no matter its functionality, operability, or location, gets detected and identified for what it truly is. Sepio’s platform eliminates blind spots and offers greater reliability for financial services cybersecurity.
Sepio helps you instantly understand what needs attention. By automatically generating a contextual Asset Risk Factor (ARF) score for every asset based on its DNA profile, regardless of how it is or isn’t being used. The Asset Risk Factor (ARF) score informs you of high-medium-low risks, eliminating noise to provide actionable visibility that expedites time to resolution. Identifies regulation and control gaps, and prevents crises with automated mitigation. Further, the actionable visibility means you can control asset risks with regulation-based policy enforcement to maintain compliance.
The platform integrates seamlessly with multiple cybersecurity solutions, such as NACs, EDRs, XDRs, Zero Trust solutions, and more, to bring them greater visibility and context. By radically augmenting the power of existing tools, Sepio gets you more value from your IT and security investments.
Financial Services Cybersecurity with Sepio’s Asset Risk Management
Sepio Asset Risk Management (ARM) platform emphasizes the importance of having a comprehensive view of all assets. Without visibility, it’s impossible to mitigate risks effectively. In today’s fast-growing and uncontrolled ecosystem, financial services face cybersecurity challenges in maintaining control of their assets. Regardless of their location, installer, or usage status, Sepio offers a solution for complete asset visibility.
- Discover all known & shadow assets
- Provide actionable visibility through contextual risk scores
- Eliminate blind spots and regulatory gaps
- Enforce regulation-based policies
- Mitigate risks from uncontrolled assets
- Fortify efficacy of existing security tools
Sepio leverages the physical layer to provide a unique perspective on asset visibility, accompanied by an embedded Asset Risk Factor score. By harnessing the power of the entire asset security ecosystem, we deliver actionable visibility and limitless scalability, which are crucial elements in asset risk management. Our solution offers tangible benefits for any IT department seeking to streamline hardware, enhance efficiency and eliminate unnecessary redundancies.Financial Services Cybersecurity (PDF)