Home Insights White Papers Everything financial organizations need to know about cybersecurity in the cloud and DevOps era
Financial services cybersecurity
Financial services cybersecurity

Everything financial organizations need to know about cybersecurity in the cloud and DevOps era

Financial services face significant risks from cybercriminals due to insecure cloud and DevOps practices, leading to data theft, financial losses, and reputational damage. Download our whitepaper to discover effective strategies for securing your ecosystem, from identification and protection to response and recovery, ensuring a secure-by-design approach.

“A secure and strong ecosystem empowers banks and wealth management companies to channel their energy into creating amazing new products and experiences, rather than losing sleep over cyber threats. Start early with proactive cybersecurity steps that let them sniff out and tackle potential threats before they blow up into disastrous breaches. From securing cloud and DevOps environments to implementing zero-trust architecture, robust application security, and proactive threat detection with AI—it’s about building resilience from the ground up.”

Suresh Nageswaran, Senior Director of Technology, Financial Services, Grid Dynamics
Intricate metal lock to represent cybersecurity for banks and wealth management firms

From banks to wealth management firms, every corner of the financial world faces substantial risks, with insider threats emerging as a top concern. Attack surfaces vary across institutions, with banks exposed through ATMs, digital interfaces, and payment gateways, while wealth management firms contend with risks in portfolio management, trading systems, and advisor workstations. Unsecured cloud adoption and DevOps practices expose these attack surfaces, significantly increasing the vulnerability of financial institutions to cyber threats amidst stringent compliance and data privacy requirements.

Ensure cyber-resilience in cloud and DevOps environments

To combat cyber threats, strengthen cloud and DevOps setups. Employ robust data loss prevention measures, adopt a zero-trust security approach for encryption, and fortify IT infrastructure with secure configurations and updates. Monitor for policy violations in real-time, fortify applications through testing and secure APIs, and implement comprehensive security measures including encryption and automated responses. Integrate security throughout the software development lifecycle with DevSecOps and AIOps practices for automated testing and early vulnerability detection.

Complex metal vault to represent cyber resilience in cloud and DevOps environments

A snapshot of our comprehensive cybersecurity strategy for financial institutions

Decode cloud and DevOps vulnerabilities

Cloud and DevOps adoption introduces security risks like data loss, access control shortcuts, and third-party integration concerns, emphasizing the critical need for robust security measures and careful vendor selection to ensure regulatory compliance and data privacy.

Secure by design with zero-trust guidelines

Integrate robust security measures such as least privileged authorization, encryption, threat modeling, and compliance adherence coupled with continuous monitoring and automated security scans, to fortify financial ecosystems.

Ensure application security from development to deployment

Employ identity and access management (IAM) policies, user lifecycle management, role-based access control (RBAC), multi-factor authentication (MFA), and continuous policy review to secure financial applications.

Accelerate security without impeding development using DevSecOps

Revolutionize DevOps by prioritizing early detection and automated testing in CI/CD pipelines through Static Application Security Testing (SAST), Software Composition Analysis (SCA), and Dynamic Application Security Testing (DAST) to deliver high-quality, secure financial software.

Safeguard test data integrity

Secure your testing process with meticulous test data management, employing techniques like data masking, tokenization, and pseudonymization to ensure confidentiality and regulatory compliance.

Monitor and promptly alert security teams of possible intrusions

Enable real-time threat detection, swift incident response, and seamless compliance management with Monitoring and alerting, along with security information and event management (SIEM) technology, forming an indispensable defense strategy.

Unlock the synergy between AIOPs and the Global Watch Platform

Leverage AI for anomaly detection and automated responses in IT Ops, coupled with the Global Watch Platform providing centralized threat intelligence, predictive analytics, and streamlined oversight, ensuring proactive risk mitigation and peak operational performance.

“While our current cybersecurity strategy for financial institutions is robust and resilient, the emergence of generative AI offers progressively innovative methods to secure financial systems and uphold consumer trust. In this era of cloud computing and DevOps, where agility and security are imperative, employing advanced algorithms and deep learning techniques, generative AI facilitates proactive threat detection and adaptive defense strategies. We embrace the potential of generative AI, leveraging our expertise to explore and implement solutions that will support our fight against sophisticated cybercrimes and shape the future of financial cybersecurity.”

Anindya Gupta, Senior Director of Sales & Partnerships,
Grid Dynamics

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