Industry Overview

Cybersecurity in financial services

If your payment systems stop at 2am, your customers panic, and the regulator notices. That’s the real risk. Financial services cybersecurity isn’t about fear, it’s about protecting trust, uptime, and regulatory standing in a high-pressure, always-on world. From bank details to investment portfolios, the sheer volume of sensitive information at stake heightens the risk.

If you’re the person who gets the call when something breaks, this is for you.

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Cybersecurity for Financial Services

The finance sector is one of the most targeted industries globally

The financial services industry has long been a target for cyber crime, which isn’t at all surprising given the vast amounts of sensitive financial data that these institutions hold. This includes anything from bank details to investment portfolios, which can be incredibly dangerous if they land in the wrong hands. Regulatory penalties, financial loss and reputational damage are just some of the impacts of a breach.

While many companies are aware of cyber threats and actively welcome initiatives to reduce their risks, the multifaceted challenge they present can make this a tricky task.

Key challenges

Digital advancements

Keeping up with digital advancements also means keeping up with the evolving cyber threats that come with them. Add in AI, blockchain and cloud computing – it becomes a tough balancing act.

Compliance pressure from FCA, PRA, GDPR, and DORA

Regulators expect you to prove operational resilience, not just policy. Are you ready to notify the ICO in 72 hours? Are your vendors DORA-aligned?

Insider threats

From contractors to cloud admins, who really has access to sensitive systems? Human error and privilege creep are still the biggest risks.

Operational downtime and disruption

It’s not just data theft. It’s payments freezing, dashboards crashing, alerts going untriaged. Your business doesn’t pause, neither should your security.

Vendor breaches and shadow integrations

Over 50% of financial firms were breached through third-party services in the past 12 months. Could your file transfer platform or SSO provider be your next attack vector?

Financial services cybersecurity in numbers

What an attack could mean for your business.

Attacks resulted in data breaches or exfiltration35%
35%
Finance businesses see cybersecurity as a high priority78%
78%
Fintech & Trading App Tojans increase from Q4 2023 to Q1 20242140%
2140%
CEOs who stated they were “well prepared” for a cyber attack54%
54%

Source: https://cloudguard.ai/resources/attack-exposure-management/

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On-demand webinar

Watch our exclusive webinar on cyber threats in the financial services sector

We analysed the attack surfaces of 25 top financial services companies, and we’re ready to present our results to guide you on common vulnerabilties, and what you need to focus on to improve your security posture.

How CloudGuard Can Help

Effective cybersecurity solutions for financial services

CloudGuard is here to address the cybersecurity challenges facing legal services. Our selection of financial services cybersecurity solutions – including 24/7 managed SecOps, comprehensive posture assessments, and expert CISO advisory services – help to strengthen your defences, ensure compliance, and keep you protected 24/7.

Proactive protection

24/7 Managed Security Operations – Sleep Through the Threats

We often hear that cost is the biggest barrier to implementing effective, in-house cybersecurity. We want to change that. Introducing CloudGuard’s 24/7 Managed Security Operations – designed to keep costs down while offering unmatched protection.

Our virtual SOC analyst triages alerts at machine speed, escalating only what matters to our UK-based team of human experts. You’ll only get the 3am call if it’s real.

  • AI-assisted triage and response
  • Fully managed MDR/XDR
  • Instant incident escalation and forensic support
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security posture assessment
Find your blind spots

Security Posture Assessment

Understanding your attack surface in the face of cyber threats is essential. Our detailed assessment evaluates your entire digital estate and data management practices, identifying vulnerabilities and providing actionable insights to mitigate risks and protect sensitive information from unauthorised access.

With our expertise, you can protect your operations, defend valuable intellectual property, and maintain trust with customers and partners.

Expert advice

CISO Advisory – Strategy Meets Execution

No CISO? No problem. Our fractional CISO advisors bring deep financial sector expertise, helping you align board priorities, security budgets, and compliance requirements.

  • Policy, governance, and roadmap development
  • Incident readiness tabletop simulations
  • Vendor due diligence and resilience planning
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From the CISO’s lips

Why Clients Like Radicant Bank Choose CloudGuard

I am impressed by the expertise and customisation of CloudGuard’s solution and services. As a digital sustainability bank, we at Radicant are breaking new ground and focusing on innovative solutions. With CloudGuard, we have a strong partner at our side who follows this mindset with the appropriate tools and specialists in the information security area.

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Get in touch

Cybersecurity worries keeping you awake at night? Talk to us.

Book a no-obligation readiness review and get a snapshot of your current risk posture, mapped against DORA, GDPR, and FCA expectations.