Financial Services and FinTech
Financial Services and FinTech
Industry
Financial Services and FinTech
Financial Services and FinTech
Industry

Financial Services and FinTech

The BFSI (Banking, Financial Services and Insurance) sector has become the primary vector for cyber criminals to exploit financial transactions, customer data and commit fraud.
BFSI

Extremely sensitive and valuable data resides in the financial services sector, everything from personally identifiable information (PII), SWIFT messages, global routing data, global stocks and asset investment algorithms. The loss of this data and intellectual property can have significant impact on a bank’s brand reputation and customer loyalty. When consumers and business customers place their trust and their money in your institution, your reputation for information security is paramount.

Financial institutions are subject to an ever-increasing number of cyber-attacks whilst having to keep up with cyber security regulations and standards.

BFSI

Extremely sensitive and valuable data resides in the financial services sector, everything from personally identifiable information (PII), SWIFT messages, global routing data, global stocks and asset investment algorithms. The loss of this data and intellectual property can have significant impact on a bank’s brand reputation and customer loyalty. When consumers and business customers place their trust and their money in your institution, your reputation for information security is paramount.

Financial institutions are subject to an ever-increasing number of cyber-attacks whilst having to keep up with cyber security regulations and standards.

Our Experience

DTS Solution has been supporting clients in the BFSI vertical since inception. Our deep-rooted history working on securing organizations within the banking and financial services industry helps us talk the financial services language and accelerate transformative cyber security initiatives.

Financial services are at the heart of the global economy and it’s safe to say cybercrime is a major risk for the banking system. Cyber security has become a vital investment for the financial sector and that is more evident in the current landscape when the banking industry saw an increase of 1300% in ransomware attacks in Y2021. It is well understood, that a systemic cyber-attack could present major material risks for any bank in the world.

The BFSI industry has the largest population of CISO (Chief Information Security Officers) compared to any other industry, which is just as well given the need to build a strong cyber security governance practice and manage day-to-day business challenges being presented, from adoption of new technology and digital platform, managed third-party risks, insider fraud to sophisticated cyber-attacks.

Even with increased scrutiny and attention from regulatory bodies, the goal of total protection remains elusive as much as an illusion. Governance, risk management and compliance frameworks developed by UAE IA, SAMA, CBK, NIST CSF, PCI-DSS, SWIFT CSP, ISO27001 and the FFIEC all strive to assess risk and identify security gaps. While they offer useful recommendations for cyber risk management, applying and perfecting a cyber security strategy can overwhelm your capable but short-handed IT security and SecOps staff.

BFSI Cyber Security

Our Experience

DTS Solution has been supporting clients in the BFSI vertical since inception. Our deep-rooted history working on securing organizations within the banking and financial services industry helps us talk the financial services language and accelerate transformative cyber security initiatives.

Financial services are at the heart of the global economy and it’s safe to say cybercrime is a major risk for the banking system. Cyber security has become a vital investment for the financial sector and that is more evident in the current landscape when the banking industry saw an increase of 1300% in ransomware attacks in Y2021. It is well understood, that a systemic cyber-attack could present major material risks for any bank in the world.

BFSI Cyber Security

The BFSI industry has the largest population of CISO (Chief Information Security Officers) compared to any other industry, which is just as well given the need to build a strong cyber security governance practice and manage day-to-day business challenges being presented, from adoption of new technology and digital platform, managed third-party risks, insider fraud to sophisticated cyber-attacks.

Even with increased scrutiny and attention from regulatory bodies, the goal of total protection remains elusive as much as an illusion. Governance, risk management and compliance frameworks developed by UAE IA, SAMA, CBK, NIST CSF, PCI-DSS, SWIFT CSP, ISO27001 and the FFIEC all strive to assess risk and identify security gaps. While they offer useful recommendations for cyber risk management, applying and perfecting a cyber security strategy can overwhelm your capable but short-handed IT security and SecOps staff.

The Future of BFSI

Adoption of tech and digital to support the future of banking listed below is just the tip of the iceberg when it comes to realigning cyber security efforts to counteract the ever-changing threat landscape.

The Rise of Fintech

Fintech has become a major buzzword in the financial services world. In the decade that has passed since the global financial crisis, financial technology startups have made huge waves in gaining market share. Born out of a reaction to the stranglehold which traditional financial institutions had on the sector and propelled through relentless technological innovations, FinTech companies have become more popular, more diverse and more ambitious.

The explosion in fintech over recent years has changed the financial landscape in a way not seen since the proliferation of the internet during the dot-com era forced financial institutions to make sweeping changes.

While the most notable success for FinTech has been within the consumer and small-business banking space, some firms have now started to make inroads into the notoriously guarded corporate banking field. We have helped Fintech and Regtech organizations in various spaces achieve strong cyber security practices.

The Future of BFSI

Adoption of tech and digital to support the future of banking listed below is just the tip of the iceberg when it comes to realigning cyber security efforts to counteract the ever-changing threat landscape.

The Rise of Fintech

Fintech has become a major buzzword in the financial services world. In the decade that has passed since the global financial crisis, financial technology startups have made huge waves in gaining market share. Born out of a reaction to the stranglehold which traditional financial institutions had on the sector and propelled through relentless technological innovations, FinTech companies have become more popular, more diverse and more ambitious.

The explosion in fintech over recent years has changed the financial landscape in a way not seen since the proliferation of the internet during the dot-com era forced financial institutions to make sweeping changes.

While the most notable success for FinTech has been within the consumer and small-business banking space, some firms have now started to make inroads into the notoriously guarded corporate banking field. We have helped Fintech and Regtech organizations in various spaces achieve strong cyber security practices.

Our Services

As banking and fintech innovation continue to strive it is equally important to keep on top of the global cyber threat landscape by having the ability to proactively detect and remediate such threats before financial services transactions and data are compromised. DTS Solution has the expertise to help you protect your assets and reputation as you transform operations and embrace technical innovation.

Our Services

As banking and fintech innovation continue to strive it is equally important to keep on top of the global cyber threat landscape by having the ability to proactively detect and remediate such threats before financial services transactions and data are compromised. DTS Solution has the expertise to help you protect your assets and reputation as you transform operations and embrace technical innovation.

Enhancing financial services security will help you:

Some of the services we have successfully delivered

Enhancing financial services security will help you:

Some of the services we have successfully delivered

Our Services

Our Services

Cybersecurity Program and Framework Development
Cybersecurity Program and Framework Development
Cybersecurity Assessment
Cybersecurity
Assessment
Cybersecurity Controls
Cybersecurity
Controls