7 Reasons Financial Institutions Need Cloud Computing & Cybersecurity

      Posted by NewCloud Networks on Feb 27, 2020 11:00:00 AM

      Cloud adoption by financial institutions has been on the rise. According to PwC, by 2020 core financial services like credit scoring, statements management, payments, and billing will use the cloud for processing and computing. From retail banking to collection agencies to asset management and investment banking, the cloud provides many use cases to bring scalability, cost savings and higher security to financial institutions. 

      The largest financial institutions have already adopted cloud technology. But it’s not just the J.P. Morgan’s or Bank of America’s of the world. Smaller financial institutions are finding the same benefits in cloud computing and cybersecurity practices that enterprises are leveraging.  Here are 7 reasons financial institutions need cloud computing and cybersecurity.

      1. Cost Savings 

      Financial institutions are leveraging the cloud to move IT operations to an operating expense model (OpEx). IT hardware and underlying infrastructure is expensive, and financial institutions are concerned about the rising costs associated with running data centers. Additionally, on-premise data centers are difficult to scale, and any growth requires large capital expenditures. Instead, hybrid cloud strategies allow banks and collection agencies to safeguard mission-critical data in the cloud without the high cost and maintenance that typical on-premise centers come with.  

      Read More

      Topics: Cloud Computing, Backup, Cybersecurity, SIEM, Intrusion Detection and Prevention, Cloud Solutions, Security, Identity Management, Security as a Service

      How Cloud Computing & Cybersecurity Can Be Used in Various Industries

      Posted by NewCloud Networks on Feb 25, 2020 11:00:00 AM

      In today’s digitized world, cyberattacks are inevitable if businesses aren’t proactive in their protection. Regardless of business size, it’s only a matter of time before organizations become victims due to the absence of cloud computing and security solutions. In fact, 81% of cyberattacks affect small to medium-sized businesses, simply because they lack cloud knowledge.

      Read More

      Topics: Cloud Computing, Backup, Cloud Security, Cloud Storage, healthcare, Cybersecurity, SIEM, Intrusion Detection and Prevention, Office 365 Backup, Cloud Solutions, Identity Management, Security as a Service

      What Are User Entity Behavior Analytics, and Why Are They Important?

      Posted by Jill Sullivan on Jun 18, 2019 9:30:00 AM

      As businesses increasingly conduct more of their activities online, there has been a corresponding increase in the frequency as well as the number of cyber attacks; cybercriminals invest their time and resources seeking various ways to compromise business computer networks. Given the increased frequency and sophistication of cyber attacks, traditional cybersecurity strategies are no longer enough in keeping your computer network secure. 

      Read More

      Topics: SIEM

      Enterprise Benefits of Network Intrusion Prevention Systems

      Posted by Sydney Boman on Mar 7, 2019 2:30:00 PM

      There has been an exponential increase in the rate of cybercrime over the past several years as enterprises increasingly conduct more of their business activities online. Cybercriminals have developed more sophisticated tools that offer them greater ability to penetrate and compromise the networks of unsuspecting enterprises, with resulting adverse consequences. There are about 130 reported network security breaches yearly. In 2018 alone, the estimated amount of money lost by businesses globally as a result of cybercrime was $600 billion, corresponding to about 0.8 percent of the global GDP.

      Read More

      Topics: SECaaS, SIEM, Intrusion Detection and Prevention

      Top 5 Benefits of SIEM as a Service

      Posted by Sydney Boman on Mar 6, 2019 9:13:00 AM

      At one point in time cybersecurity was considered to be an afterthought but is now an essential consideration in the building as well as maintenance of a cyber network. With more business transactions being conducted online, cybercriminals are constantly devising innovative ways to penetrate cyber networks, making away with valuable data and causing severe damage to the impacted business in the process. It is therefore important that businesses utilize every security tool at their disposal to ensure that their networks are kept secure. Using only one type of security tool is no longer sufficient in offering adequate cyber protection.

      Read More

      Topics: SECaaS, SIEM

      Why You Need a SIEM Tool

      Posted by Matthew Fall on Jan 31, 2019 9:33:00 AM

      SIEM- it stands for Security Information & Event Management. SIEM has become a vital part of the security strategy of all growing businesses. By 2021, global spending on SIEM is projected to be at $3.4 billion dollars, and for good reason. We all know the next generation of threats to our society will be waged online, but SIEM is here to help. Breaches are now a matter of when, not if. That’s why the best cyber-security incorporates real-time identification of breeches and instant response using SIEM. 

      Read More

      Topics: Cloud Security, SIEM