According to Juniper Research, 146 billion records are expected to be exposed in data breaches between 2018 and 2023. IBM and the Ponemon Institute estimate the global average cost of a data breach is $3.6 million. In addition to high risk and the costly damages faced by all organizations, financial institutions face stringent regulatory and compliance standards.
Many leaders across the finance industry find themselves needing increased information security but having to fulfill that need within budget constraints. Additionally, cloud computing and digital transformation add layers to the need for a more sophisticated and integrated information security strategy.