In episode 90 of the Acceleration Economy Minute, Kieron Allen discusses new financial services industry cybersecurity data from Lookout, which is on our Top 10 Shortlist of Cybersecurity Enablers.
Highlights
00:31 — A new report from Lookout explores why the financial services industry needs to rethink its security posture. Based on surveys of 365 IT and security leaders, 70% of respondents reported a notable increase in data breaches.
00:50 — Challenges highlighted in the report focused on adapting to hybrid infrastructure and work models, disparate security tools, and data sprawl in the cloud.
01:10 — 47% of those surveyed struggle with increased difficulty of detecting and mitigating threats, while 18% face a significant lack of control over their applications and data. 55% are facing challenges in achieving effective data protection in multi-tool and multi-vendor environments.
01:30 — 52% of organizations struggle with inadequate access controls and, of those surveyed, 82% have a hybrid infrastructure adding to the complexity. Lookout recommendations that financial services firms adapt their approaches to safeguard valuable data without compromising productivity gains offered by the cloud.
