How Banks and Credit Unions Can Safeguard Data and Ace Audits
In today’s rough and tumble environment where hackers no know bounds, every financial institution, regardless the size, has to beef up security and remain ever vigilant.
According to recent surveys, 83% of the financial leaders who responded felt that data is their most important asset, and 79% said that having a strong technology infrastructure was critical to ward off cyberattacks. Unfortunately while most feel that security is a top IT budget priority, fewer than one in five believe they have strong security in place.
It shouldn’t be that way – nor does it need to be. Smaller banks may feel that they can’t afford to implement measures to detect and prevent security breaches. The truth is they can’t afford not to. Let’s look at why security is so important to financial institutions, and how even the smallest institutions can achieve their security goals without “breaking the bank.”