In the Financial Services industry, monitoring and controlling access to backend systems and infrastructure is critically important. Mismanaged access increases the likelihood of a security breach and puts your organization’s compliance and brand image at risk. Research from Ponemon Institute shows that the average cost of a data breach climbed from $3.86M in 2020 to an estimated $4.35M in 2022.
This report details the risks presented by poorly managed access and solutions for improving access, to achieve:
- Improved regulatory compliance
- Improved risk management and the ability to secure sensitive data
- Faster response to organizational changes
- Better service delivery and reduced administrative overhead when onboarding and offboarding employees and vendors
- Improved cost management and timeliness of audits