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Network Application Security for Banks – Varmour
Every day, cyber-attacks continue to increase across the world, threatening economies and businesses alike. With the onset of COVID-19 pandemic, the frequency and intensity of cyber-attacks have increased, with the financial sector one of the main targets of such activities.
Despite the growing fear from rising incidents of cyber-attacks, the financial service firms continue to embrace innovation and accelerate their digital transformation strategies, which often includes connecting with customers, other stakeholders, and service providers across multiple channels by creating Application Programming Interface (API)-enabled ecosystems. Furthermore, the risk and vulnerability increase as the integration gets more complex with migration into cloud and other forms of outsourcing, adding to the complexity to deliver vital elements of key business services, which are now being delivered by companies outside the regulatory perimeter.
These attacks and threats if not well managed would cost firms huge financial loss and liability, disruption of business processes and operations, and erode customer confidence in the service provider. To manage these challenges, financial service firms must develop robust operational and cyber resilience systems that can create a genuinely customer-centric, adaptive, data driven and simplified organisation and environment.
The Cyber Resilience DigiConnect Boardroom will therefore, bring together senior management executives including CIOs, CISO, IT Directors and Cybersecurity officials from different financial services firms to discuss some of these challenges and learn latest best practices and innovative solutions on how they can consistently manage application security and improve their ability to foresee, prevent, detect and recover from operational disruptions