Next level data security for the financial sector
Financial organizations are the backbone of our economy. If their underlying IT infrastructure fails, the consequences could be catastrophic. IT operations need to run smoothly and consistently to meet customer needs and expectations. Data security in the cloud plays a crucial role here.
Cloud solutions offer the financial sector numerous advantages: they are flexible, scalable and enable fast access to important data. But this data needs to be well protected. Particularly in the financial sector, where sensitive information such as bank data and transactions are processed, maximum security is essential.
A study shows that the number of cyber attacks on financial institutions is increasing by around 30% every year. These attacks can cause considerable financial losses and reputational damage. On average, the costs of a cyber attack on a financial organization amount to several million euros. Many institutions are still not adequately protected - more than half of financial organizations are not well prepared for cyber attacks.
DORA regulation requires encryption
The EU has therefore introduced strict requirements for IT security in the financial sector with the Digital Operational Resilience Act (DORA). DORA requires financial institutions to make their digital systems resistant to cyber attacks and to ensure that their IT systems remain functional even in times of crisis. In addition to regular risk analyses, comprehensive security measures and a rapid response to cyber incidents, this also includes the encryption of sensitive data.
Financial institutions must comply with DORA requirements to avoid legal consequences and maintain their customers' trust. eperi® sEcure provides robust data encryption to protect sensitive data in the cloud and helps with DORA regulatory compliance.
Take advantage of the cloud and back up your data comprehensively. Together, we can ensure the stability and security of the financial sector and meet the legal requirements.
References
How eperi® sEcure ensures compliance in the financial sector
Partner
Newsletter
Sign up for our newsletter and receive regular updates on data protection topics, changes in legislation and the further development of eperi® sEcure.