Michael R. Cote, President & CEO
The financial services industry is diverse, encompassing banking, insurance, real estate, and investment management firms. The wealth of data and intellectual property (IP) that this industry possesses is a lucrative prize for professional hackers. Cybercriminals are evasive and persistent as they target proprietary trading algorithms and highly sensitive customer data. Financial services companies face the real risk of being blackmailed into releasing this data or seeing IP sold on the criminal underground to the highest bidder — perhaps even to a competitor. Finance and banking have been vital segments of the industry for threat actors due to the gold mine of valuable credit card and personally identifiable information. The cyberattacks in the financial services industry should serve as a wakeup call to enhance its security framework and data privacy methods.
As a world leader in security solutions, Secureworks provides an early warning system for evolving cyber threats, enabling its clients to prevent, detect, rapidly respond to and predict cyberattacks on their financial services operations. Secureworks offers a wide range of managed IT security solutions for financial services organizations. The Counter Threat Platform (CTP) is at the core of its intelligence-driven approach to security solutions. The CTP analyzes billions of network events 24x7 to discover potential threats, deliver mitigation approaches, and generate valuable context and threat insights. This visibility, in addition to proprietary CTP research, lets Secureworks develop and implement countermeasures specific to the financial services industry. The firm helps its clients detect advanced persistent threats (APTs) and mitigate any damage that they may have caused. Secureworks’ security analysts serve as an extension of its clients’ team to monitor and detect threats across their environment. For financial services firms large and small, Secureworks provides management and monitoring that can identify genuine risks and eliminate false positives that can distract its clients’ time and attention.
“We see companies that are vulnerable because they are not coordinating technology, people, and business processes in a way that closes the gaps and triggers the right actions when threats do get in,” says Michael R. Cote, President, and CEO of Secureworks.
We see companies that are vulnerable because they are not coordinating technology, people, and business processes in a way that closes the gaps and triggers the right actions when threats do get in
The company’s Security and Risk Consulting team provide strategic advice and analysis to help its clients enhance their security posture, reduce risk, facilitate compliance, and improve operational efficiency. Secureworks’ highly skilled security consultants help to test and strengthen security defenses and security processes, and design and develop new security programs. The Secureworks Counter Threat Unit research team collects relevant information wherever it can be found, and then analyzes it and synthesizes it into meaningful guidance on which clients can act. The firm’s threat intelligence helps to identify threat actors who may be specifically targeting financial services organization or executives and provides the insights to help defend and even preempt both financially motivated attackers and political hacktivists. Secureworks’ incident management practices provide rapid containment and eradication of threats, minimizing the duration and impact of a security breach that threatens sensitive customer data, patented trading algorithms, and proprietary financial services processes.
Secureworks delivers intelligence-driven solutions and expertise across banking, investment management, and insurance in 59 countries. The firm undergoes periodic examinations by the member agencies of the Federal Financial Institutions Examinations Council (FFIEC), as well as annual Statement on Auditing Standards (SSAE 16) Type II audits. Secureworks is also a member of the Financial Services — Information Sharing and Analysis Center (FS-ISAC) and contributes to threat information sharing across the worldwide financial services industry to increase sector-wide visibility of cybersecurity threats. Secureworks offers robust visibility into emerging threats to financial institutions of all sizes. Leveraging its cyber threat intelligence and global visibility can help clients prepare for, respond to, and recover from even the most complex and large-scale security incidents. Secureworks has the people, processes, and technology to help detect threats sooner to minimize damage and identify root causes to avoid being compromised.