Edition Five
New partner spotlight: Hitachi Vantara
Fortifying Financial Firms: A Strategic Blueprint for Cyber-Resilience in an Era of Evolving Threats.
Mark Katz, Client Strategy and Technology Officer for Financial Services, Hitachi Vantara
"Consistent investment in both offensive and defensive measures is crucial. Firms must proactively stay ahead of the ever-evolving cyber-threat landscape by deploying cutting-edge tools for monitoring and assessment. This requires a continual adaptation of existing capabilities to match technological advancements, keeping pace with the relentless innovation of cybercriminals."
Mark Katz, Client Strategy and Technology Officer for Financial Services, Hitachi Vantara
Regulatory bodies, such as those enforcing the DORA act, underscore the importance of effective governance processes.
In the event of an attack, a comprehensive plan for recovery and resolution becomes paramount. Success in overcoming cyber threats relies on aligning people, processes, and technology in a well-orchestrated recovery and resolution plan. Establishing process governance and accountability is essential to swiftly and safely restore operations should the worst-case scenario materialise.
Maintaining strong data access requirements and entitlements is a foundational component of cybersecurity. Regardless of the data's location—be it in cloud or hybrid cloud environments or on-premises-based data centres—strict controls must be in place to ensure that only individuals with the right permissions and entitlements can access sensitive information.
A meticulous approach to internal and external dependencies is equally critical. Financial institutions must assess these dependencies thoroughly, addressing any weaknesses promptly. Regulatory bodies, such as those enforcing the Digital Operational Resilience Act (DORA), underscore the importance of effective governance processes. Regulators are keen to ensure that firms can swiftly resolve issues within their organisations and with third-, fourth-, and fifth-party providers.
The focus on data immutability is intensifying over time, reflecting the growing need for advanced data protection and privacy. As financial institutions continue to create and store vast amounts of data, implementing measures to safeguard its integrity becomes imperative.
Financial institutions must remain agile.
Supporting rapid recovery through high availability environments and failovers is indispensable. Secure backup services for business continuity must be readily available to minimise the impact of any cyber-related incidents. This multi-faceted approach underscores the industry's commitment to not only preventing cyber threats but also responding effectively and recovering swiftly when breaches occur.
In a landscape where cyber risks are inevitable, financial institutions must remain agile, proactive, and resilient to safeguard their data and ensure uninterrupted operations.
Hitachi Vantara offers a wide range of solutions and services designed to help businesses optimise their data management, analytics, and storage capabilities. Our portfolio includes data centre solutions, data storage systems, data analytics software, and cloud services. We also offer consulting, implementation, and support services to help our clients achieve their goals.