Nearly half (44%) of Financial Services organisations grapple with underperforming cyber securit…>
Global Security Mag – e2e-assure
A new report by e2e-assure reveals that almost half (44%) of Financial Services organizations outsourcing their cyber security operations find their providers underperforming.
The urgency for a robust cyber security defense strategy is underscored by a substantial increase in cyber security breaches within the financial industry.
Outsourcing cyber security operations is the prevalent solution for Financial Services organizations, aiming to facilitate rapid threat response, gain control, and enhance resilience.
However, concerns arise as a significant portion of organizations lack confidence in their providers’ ability to promptly respond to security incidents and are experiencing an escalation of false positives, impacting their resilience.
Hybrid teams, rather than fully outsourced providers, offer stronger accountability, client-centric delivery, good SLA response times, and the ability to respond to threats within 30 minutes.
The research emphasizes the need for flexible contracts, frustration with continually adding new service offerings, and the necessity for enhanced cyber defense accessibility.
The study underscores the imperative for cyber security providers to demonstrate value, increased flexibility in contracts, and for security to be more accessible to organizations of all sizes.
Rob Demain, CEO of e2e-assure, highlights the necessity for cyber defense providers to meet the evolving needs of organizations in 2024\) This report identifies a shifting landscape in cyber defense requirements, with a strong move towards hybrid solutions, showcasing an appetite among cyber security professionals to delegate more responsibility to trusted providers.
Link: https://www.globalsecuritymag.com/nearly-half-44-of-financial-services-organisations-grapple-with-underperforming.html