3 Strategies to Consider in Enhancing Cybersecurity for Financial Firms

 

Cutting-edge technology and innovative solutions have digitally transformed the way financial services operate. However, with the increased use of technology, these companies are also susceptible to cyber attacks. 

Therefore, these organisations are placing a lot of emphasis on the adoption of robust cybersecurity strategies.

If you operate a financial firm and are looking for ways to boost your cybersecurity infrastructure, here are a few strategies you can adopt to ensure your organisation’s digital security.

Controlled Data Access

You should take all the measures you can to protect your financial firm from unwanted external threats; however, you should also ensure protection from internal breaches. 

It is important to have monitored systems and support so that you know who is accessing critical data and whether they have the required security clearance to access such information.

You can restrict the access of sensitive information to selected employees. Furthermore, you can and should implement a mechanism to immediately terminate access rights for employees who no longer work for your company.

Robust Security Policies

Risky web browsing or access to restricted websites can open the door for cyber attacks. Furthermore, saving passwords without encryption is also risky as it makes it easier for criminals to get access to your passwords. 

Therefore, it is important to make use of resources such as LastPass, which is a password manager that encrypts your passwords before storing them online.

 Consult a cybersecurity specialist who can implement End Point security that will help to secure your end-user devices such as desktop computers, laptops and work mobile phones. 

You should also look at security products from WatchGuard that can help you to build a robust cybersecurity plan. Alternatively, enlist a managed IT services provider such as VIXTRO to help install such services for your business. 

Backup And Disaster Recovery Plan

An important aspect of a strong cybersecurity mechanism is having an updated backup and disaster recovery plan. 

Failing to back up critical business data can have devastating effects on your organisation. It’s important to have a backup and disaster recovery plan to ensure the continuation of your business operations.

Consult a cybersecurity expert such as VIXTRO, who can help you to implement a robust cybersecurity plan that contains automatic updates of your security software and constant reporting of potential cyber threats.

You can ensure the security of your financial firm by engaging with expert IT professionals who can provide a tailored IT infrastructure security program suited to the unique needs of your business.

VIXTRO is a professional IT consulting firm in Melbourne with experience in devising customised solutions for clients in the finance industry. 

Their wide range of services includes IT cybersecurity, business VoIP services and Cloud deployment. Contact them for further information or visit their website to learn more about their products and services.

 

The IT(ea) On Managed IT Services

 

Whether you’re a business executive or a seasoned ITpro, managed IT services can make your job much easier while allowing you to focus on the business’s core competencies. Managed IT vendors typically execute time-consuming day-to-day tasks and complex projects, such as:

• Cloud computing
•  Data centre solutions
• Disaster recovery planning
• End-user support
• Computer asset and system management
• Cybersecurity, and more.

Ultimately, managed IT providers help increase a business’s competitiveness and efficiency. Let’s learn some more advantages of turning to a trusted managed IT services provider. 

Scalable And Predictable Spending

Investing in IT infrastructure and systems can be expensive. IT investments need upfront operating expenses, and predicting them can be challenging as the business grows. 

The operating expenses can be consolidated into a predictable, fixed, and single set of OPEX costs by outsourcing managed services.

Since managed IT service providers usually operate within fixed monthly rates, maintenance, hardware breakdowns, and repairs can also be calculated into the operational budget, even if they occur unexpectedly.

Avoided Sunk Operational Costs

An in-house IT team will require significant sunk costs, including insurance, benefits, office upkeep, and monthly salaries. 

It also takes time, and more money to train in-house staff members frequently to ensure that existing staff can remain updated with industry standards and new staff can become familiar with the existing processes and systems.

Faster Response Time

Businesses can’t afford to be slowed down due to downtime caused by technical difficulties in today’s market. Having reliable IT support 24/7 is crucial to ensure the entire team can remain productive. 

Experience And Expertise

Working with a reliable managed IT service provider means that businesses can onboard a team with extensive experience, training, and qualifications without having to hire them full-time. And certifications specific to the industry. 

Businesses can gain access to top-notch IT administrators trained to offer the specific services needed to implement the newest technologies available so that all operations run smoothly.

Cyber Security Support

In this day and age, outsourcing managed IT services to a provider familiar with the PCI compliance requirements helps reduce risks related to client data, credit card use, and other data or information leakages. 

They are well-versed with the technologies and strategies needed to ensure the business remains up-to-par with international security standards. 

Outsourcing managed IT services can make it easier for businesses to remain up-to-date while employing the latest technologies during their journey to expansion. If you’re looking for a reliable managed IT service provider, reach out to professional IT consultants at VIXTRO.

They’re a one-stop solution for a wide range of services, including reliable IT cybersecurity solutions managed IT services, business internet services, VoIP solutions, and more, in Melbourne, CBD.Get in touch with them at 1300 VIXTRO to learn more.