Financial Services Industry

Cybercriminals and hackers constantly attack financial institutions worldwide. As a result, these banks, credit unions, insurance companies, mortgage lenders, and brokerage firms must put information security atop their priorities to mitigate their risk of an attack. While these organizations are heavily regulated and required to have advanced security measures in place, cybercriminals are upping the ante in their methods of attack:

  • Financial institutions face attacks from hacktivist organizations, nation-states, and insiders
  • According to the Ponemon Institute, the average cost per record of a data breach is $264
  • The average total cost of a data breach is $7.01 million

Managed IT Services for Banks and Other Financial Institutions

Financial institutions are among the most heavily regulated industries due to the high-value customer data and funds they handle. From community banks to thrifts, these businesses must contend with a wide array of federal, state, local, and industry regulations and standards, such as the Gramm-Leach-Bliley Act (GLBA) and the Federal Financial Institutions Examination Council (FFIEC) requirements. Organizations that accept, store, process, or transmit credit card information must also comply with the Payment Card Industry Data Security Standard (PCI DSS) requirements to protect cardholder data. Examples of our managed information technology (IT) services include:

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Learn More About Our Financial Services Industry Solutions

Compass IT Compliance employs a team of highly experienced and certified IT Auditors and Security Specialists, many with a background in financial services, to support your business through a comprehensive suite of solutions. We are also listed in the Financial Industry Regulatory Authority (FINRA) Compliance Vendor Directory. Call (401) 353-3024 or contact us online today for more information about how our services can benefit your organization!