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Financial Services and FinTech
Industry
Financial Services and FinTech
Industry
Financial Services and FinTech
The BFSI (Banking, Financial Services and Insurance) sector has become the primary vector for cyber criminals to exploit financial transactions, customer data and commit fraud.
Extremely sensitive and valuable data resides in the financial services sector, everything from personally identifiable information (PII), SWIFT messages, global routing data, global stocks and asset investment algorithms. The loss of this data and intellectual property can have significant impact on a bank’s brand reputation and customer loyalty. When consumers and business customers place their trust and their money in your institution, your reputation for information security is paramount.
Financial institutions are subject to an ever-increasing number of cyber-attacks whilst having to keep up with cyber security regulations and standards.
Extremely sensitive and valuable data resides in the financial services sector, everything from personally identifiable information (PII), SWIFT messages, global routing data, global stocks and asset investment algorithms. The loss of this data and intellectual property can have significant impact on a bank’s brand reputation and customer loyalty. When consumers and business customers place their trust and their money in your institution, your reputation for information security is paramount.
Financial institutions are subject to an ever-increasing number of cyber-attacks whilst having to keep up with cyber security regulations and standards.
Our Experience
DTS Solution has been supporting clients in the BFSI vertical since inception. Our deep-rooted history working on securing organizations within the banking and financial services industry helps us talk the financial services language and accelerate transformative cyber security initiatives.
Financial services are at the heart of the global economy and it’s safe to say cybercrime is a major risk for the banking system. Cyber security has become a vital investment for the financial sector and that is more evident in the current landscape when the banking industry saw an increase of 1300% in ransomware attacks in Y2021. It is well understood, that a systemic cyber-attack could present major material risks for any bank in the world.
The BFSI industry has the largest population of CISO (Chief Information Security Officers) compared to any other industry, which is just as well given the need to build a strong cyber security governance practice and manage day-to-day business challenges being presented, from adoption of new technology and digital platform, managed third-party risks, insider fraud to sophisticated cyber-attacks.
Even with increased scrutiny and attention from regulatory bodies, the goal of total protection remains elusive as much as an illusion. Governance, risk management and compliance frameworks developed by UAE IA, SAMA, CBK, NIST CSF, PCI-DSS, SWIFT CSP, ISO27001 and the FFIEC all strive to assess risk and identify security gaps. While they offer useful recommendations for cyber risk management, applying and perfecting a cyber security strategy can overwhelm your capable but short-handed IT security and SecOps staff.
Our Experience
DTS Solution has been supporting clients in the BFSI vertical since inception. Our deep-rooted history working on securing organizations within the banking and financial services industry helps us talk the financial services language and accelerate transformative cyber security initiatives.
Financial services are at the heart of the global economy and it’s safe to say cybercrime is a major risk for the banking system. Cyber security has become a vital investment for the financial sector and that is more evident in the current landscape when the banking industry saw an increase of 1300% in ransomware attacks in Y2021. It is well understood, that a systemic cyber-attack could present major material risks for any bank in the world.
The BFSI industry has the largest population of CISO (Chief Information Security Officers) compared to any other industry, which is just as well given the need to build a strong cyber security governance practice and manage day-to-day business challenges being presented, from adoption of new technology and digital platform, managed third-party risks, insider fraud to sophisticated cyber-attacks.
Even with increased scrutiny and attention from regulatory bodies, the goal of total protection remains elusive as much as an illusion. Governance, risk management and compliance frameworks developed by UAE IA, SAMA, CBK, NIST CSF, PCI-DSS, SWIFT CSP, ISO27001 and the FFIEC all strive to assess risk and identify security gaps. While they offer useful recommendations for cyber risk management, applying and perfecting a cyber security strategy can overwhelm your capable but short-handed IT security and SecOps staff.
The Future of BFSI
Adoption of tech and digital to support the future of banking listed below is just the tip of the iceberg when it comes to realigning cyber security efforts to counteract the ever-changing threat landscape.
- Edge and Cloud Computing and Services
- Big Data and Intelligence-driven Decision Making
- Robotic Process Automation
- Blockchain and Smart Contracts
- Open Banking Standard
- API-first Ecosystem
- Social Banking and Omni-Channel Banking
- Automated KYC and KYB
- Digital Onboarding
- PSD2 and Customer Security Experience
- AIOps – Predictive IT Operations
The Rise of Fintech
Fintech has become a major buzzword in the financial services world. In the decade that has passed since the global financial crisis, financial technology startups have made huge waves in gaining market share. Born out of a reaction to the stranglehold which traditional financial institutions had on the sector and propelled through relentless technological innovations, FinTech companies have become more popular, more diverse and more ambitious.
The explosion in fintech over recent years has changed the financial landscape in a way not seen since the proliferation of the internet during the dot-com era forced financial institutions to make sweeping changes.
While the most notable success for FinTech has been within the consumer and small-business banking space, some firms have now started to make inroads into the notoriously guarded corporate banking field. We have helped Fintech and Regtech organizations in various spaces achieve strong cyber security practices.
- Neobanks and Digital Banking
- Fintech – (Wallet, Robo-Advisory, Investment etc)
- RegTechs – (Digital ID, KYC, KYC, AML and Screening)
- Asset and Wealth Management
- Cryptocurrency and Virtual Assets
The Future of BFSI
Adoption of tech and digital to support the future of banking listed below is just the tip of the iceberg when it comes to realigning cyber security efforts to counteract the ever-changing threat landscape.
- Edge and Cloud Computing and Services
- Big Data and Intelligence-driven Decision Making
- Robotic Process Automation
- Blockchain and Smart Contracts
- Open Banking Standard
- API-first Ecosystem
- Social Banking and Omni-Channel Banking
- Automated KYC and KYB
- Digital Onboarding
- PSD2 and Customer Security Experience
- AIOps – Predictive IT Operations
The Rise of Fintech
Fintech has become a major buzzword in the financial services world. In the decade that has passed since the global financial crisis, financial technology startups have made huge waves in gaining market share. Born out of a reaction to the stranglehold which traditional financial institutions had on the sector and propelled through relentless technological innovations, FinTech companies have become more popular, more diverse and more ambitious.
The explosion in fintech over recent years has changed the financial landscape in a way not seen since the proliferation of the internet during the dot-com era forced financial institutions to make sweeping changes.
While the most notable success for FinTech has been within the consumer and small-business banking space, some firms have now started to make inroads into the notoriously guarded corporate banking field. We have helped Fintech and Regtech organizations in various spaces achieve strong cyber security practices.
- Neobanks and Digital Banking
- Fintech – (Wallet, Robo-Advisory, Investment etc)
- RegTechs – (Digital ID, KYC, KYC, AML and Screening)
- Asset and Wealth Management
- Cryptocurrency and Virtual Assets
Our Services
As banking and fintech innovation continue to strive it is equally important to keep on top of the global cyber threat landscape by having the ability to proactively detect and remediate such threats before financial services transactions and data are compromised. DTS Solution has the expertise to help you protect your assets and reputation as you transform operations and embrace technical innovation.
Our Services
As banking and fintech innovation continue to strive it is equally important to keep on top of the global cyber threat landscape by having the ability to proactively detect and remediate such threats before financial services transactions and data are compromised. DTS Solution has the expertise to help you protect your assets and reputation as you transform operations and embrace technical innovation.
Enhancing financial services security will help you:
- Protect valuable intellectual property and customer data from cyber criminals
- Develop strategies to enhance financial cybersecurity compliance while reducing regulatory pressures
- Extend the skill set and capabilities of your IT and cybersecurity staff
- Enhance continuous monitoring and rapidly implement cyber-attack countermeasures
- Reduce the time it takes to respond to persistent threats
Some of the services we have successfully delivered
- Securing Banking Channels – Consumer, Retail and Business - Mobile, Desktop and Social Banking Channels
- Securing Fintech and Regtech Platforms – Mobile and Web Apps, APIs, Thick Client
- Core Banking Security Assessment
- SWIFT CSP Compliance Readiness
- PCI-DSS Compliance Readiness
- Vulnerability Assessment and Penetration Testing
- Red Team Operations
- Source Code Review
- Cloud Security Assessment
- CSOC Maturity Assessment
- Enterprise Security Architecture
- Cyber Security Engineering – Products and Solution Implementation
- Cyber Risk Maturity Assessment – NIST and FFIEC
- Compliance towards standards – SAMA, UAE IA, CBK and NIST, PCI, ISO27001
Enhancing financial services security will help you:
- Protect valuable intellectual property and customer data from cyber criminals
- Develop strategies to enhance financial cybersecurity compliance while reducing regulatory pressures
- Extend the skill set and capabilities of your IT and cybersecurity staff
- Enhance continuous monitoring and rapidly implement cyber-attack countermeasures
- Reduce the time it takes to respond to persistent threats
Some of the services we have successfully delivered
- Securing Banking Channels – Consumer, Retail and Business - Mobile, Desktop and Social Banking Channels
- Securing Fintech and Regtech Platforms – Mobile and Web Apps, APIs, Thick Client
- Core Banking Security Assessment
- SWIFT CSP Compliance Readiness
- PCI-DSS Compliance Readiness
- Vulnerability Assessment and Penetration Testing
- Red Team Operations
- Source Code Review
- Cloud Security Assessment
- CSOC Maturity Assessment
- Enterprise Security Architecture
- Cyber Security Engineering – Products and Solution Implementation
- Cyber Risk Maturity Assessment – NIST and FFIEC
- Compliance towards standards – SAMA, UAE IA, CBK and NIST, PCI, ISO27001
Our Services
Our Services
Cybersecurity Program and Framework Development
- Develop Cybersecurity Policies, Processes, Procedures
- Institutionalize Cybersecurity Management System
- Establish Robust Cyber Risk Management Practices
- Ensure Cyber Resilience and Disaster Recovery
- Executive Management Support for Cybersecurity
- Establish Data Governance and Protection Controls
- Establish Identity Governance and Access Management
- Enterprise and Cloud Security Architecture Blueprint
- Enterprise and Cloud Security Strategy
- Cybersecurity Controls Reference Architecture
- Cybersecurity Maturity Enhancement
- Human-Centric Cybersecurity Awareness and Training Program
- High-Performance Cybersecurity Metrics
Cybersecurity
Assessment
- Cybersecurity Risk Assessment
- ISMS Compliance and Gap Assessment
- IT Audit and Health Check
- Data Protection and Security Assessment
- Vulnerability Assessment
- Penetration Testing
- Social Engineering
- OSINT and DARKINT Assessment
- Red Teaming
- Blue Teaming
- Purple Teaming
- Ransomware Simulation
- Network Security Architecture Review
- Network and Security Configuration Assessment
- Systems Security Configuration Assessment
- Third-Party Risk Management
- Supply Chain Security Assessment
- Identity Access Management Assessment
- Privileged User Access Management Assessment
- Database Security Assessment
- IaaS and PaaS Cloud Security Assessment – AWS, Azure, OCI
- SaaS Cloud Security Assessment – Salesforce, Informatica
- Social Media Risk Assessment
- CSOC Cyber Threat Monitoring Risk Assessment
- Secure Software Maturity Assessment
- Business Continuity and Disaster Recovery Assessment
- Attack Simulation Assessment
- Incident Response and Digital Forensic
Cybersecurity
Controls
- Network and Infrastructure Security
- Zero Trust and Private Access
- Endpoint and Server Protection
- Data Protection
- Application Security
- Secure Software and DevSecOps
- Cloud Security
- Identity Governance
- Risk and Compliance
- Security Intelligent Operations
Solutions
Network and Infrastructure Security
Zero Trust and Private Access
Endpoint and Server Protection
Vulnerability and Patch Management
Data Protection
Application Security
Secure Software and DevSecOps
Cloud Security
Identity Access Governance
Governance, Risk and Compliance
Security Intelligence Operations
Incident Response
Accreditations
Accreditations
Dubai
Abu Dhabi Office 7, Floor 14
Makeen Tower, Al Mawkib St.
Al Zahiya Area
Abu Dhabi, UAE
Kuwait Mezzanine Floor, Tower 3
Mohammad Thunayyan Al-Ghanem Street, Jibla
Kuwait City, Kuwait
+971 4 3383365
[email protected]
London 160 Kemp House, City Road
London, EC1V 2NX
United Kingdom
Company Number: 10276574
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