Netwrix outlines key cloud adoption trends and challenges faced by the financial industry based on the results of its 2016 Cloud Security Survey
Irvine, CA, February 16, 2017
Netwrix Corporation, the first vendor to introduce a visibility and governance platform for hybrid cloud security, extracted data about financial organizations from its 2016 Cloud Security Survey and released an infographic that reveals the key cloud security concerns of financial institutions.
More and more financial organizations are making a transition from on-premises to cloud-based services to support core business activities. According to Deutsche Bank Group, financial organizations could go from zero use of cloud computing to 20–30% within the next three years. This growing popularity of the cloud has initiated a discussion about cloud beneﬁts and risks to data and system security. Moreover, cloud adoption can be challenging for financial institutions due to stringent regulatory requirements and the increased number of data breaches, including the recent Mossack Fonseca and Qatar National Bank attacks.
Netwrix identified the following cloud security trends for the financial industry:
"Even though CIOs of financial organizations recognize that the cloud can address a variety of business needs, the technology is still associated with a number of security and compliance risks," said Michael Fimin, CEO and co-founder of Netwrix. "In the light of emerging cyber threats, financial institutions need, more than ever, to keep their IT infrastructures under control and gain complete visibility across their core systems, so they can quickly identify potential threats and protect sensitive data from loss and unauthorized access."
To learn more about ways to safeguard your financial records against security threats, visit: https://www.netwrix.com/financial_services_industry.html
Netwrix Corporation was the first vendor to introduce a visibility and governance platform for hybrid cloud security. More than 160,000 IT departments worldwide rely on Netwrix to detect insider threats on premises and in the cloud, pass compliance audits with less effort and expense, and increase productivity of IT security and operations teams. Founded in 2006, Netwrix has earned more than 100 industry awards and been named to both the Inc. 5000 and Deloitte Technology Fast 500 lists of the fastest growing companies in the U.S. For more information, visit www.netwrix.com
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