Financial Services

Stay Ahead of Cyber Threats in Financial Services

BMC Software
2 minute read
BMC Software
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Is Your Business Protected Against Data Leaks and Sophisticated Hacking?

As digital transformation and innovation flourish in the financial services sector, one of the biggest threats these organizations face is a large-scale data breach, either through illicit hacking or inadvertent data exposure. Cyber security has become a critical risk factor across businesses that handle sensitive private data, including banking, insurance, and corporate finance.

The financial cost and long-term reputational damage of hackers gaining access to personal data can be enormous, yet many businesses still operate with significant security blind spots and known weaknesses.

Just a few months ago, Capital One suffered one of the biggest data breaches in banking history with the details of more than 100 million customers compromised. Personal information like social security numbers, linked bank account details, credit scores, payment history, balances, and contact details were stolen. Investors estimate that the breach may cost Capital One up to $150 million in 2019 alone, with potential fines and legal costs pushing the total cost of the breach nearer to $400 million.1

Similarly, credit scoring firm Equifax suffered a high-profile hack in 2017 that resulted in the loss of personal data for 146 million customers. The result? The company recently agreed to pay up to $700 million in legal costs and is still weighing the long-term reputational implications and hit to consumer trust levels.2
Clearly businesses must be able to cope with the pace and volume of known vulnerabilities, acting with speed, agility, and efficiency to tackle new challenges that come with constantly evolving cyber threats.

Is your business susceptible to attack, and what can you do to ensure that your company is not in the next data breach headline?

Take Control With Intelligent Solutions Designed For Your Business

At BMC, our advanced API-driven solutions can help your business address security challenges head on. We help you stay one step ahead of rapidly growing cyber threats, securing your high value data and delivering greater business agility.

BMC Helix Discovery, our cloud-native discovery and dependency mapping solution, can provide deeper insights into your entire business infrastructure, identifying potential vulnerabilities and reducing risk exposure.

BMC Helix Discovery works together with TrueSight Vulnerability Management to:

  • Streamline your workflow with scan verification and automated remediation
  • Auto-scan imports from your security department to significantly improve response times
  • Quickly prioritize remediation activities via a powerful, easy-to-use dashboard
  • Highlight performance trends, SLA compliance, and vulnerability lifecycle information
  • Create custom reports that help meet audit requirements and fuel process improvement efforts

For more information about securing your financial services business from cyber threats, please visit bmc.com/secops


1Financial Times, ‘Capital One data breach affects 106m people,’ https://www.ft.com/content/7c6c6d7a-b269-11e9-8cb2-799a3a8cf37b

2BBC, ‘Equifax to pay up to $700m to settle data breach,’ https://www.bbc.co.uk/news/technology-49070596

Dummies Guide to Security Operations

When security and operations teams collaborate closely, they can protect your business more effectively against all kinds of threats. Learn more in the SecOps For Dummies guide.


These postings are my own and do not necessarily represent BMC's position, strategies, or opinion.

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About the author

BMC Software

BMC Software

BMC delivers software, services, and expertise to help more than 10,000 customers, including 84% of the Forbes Global 100, meet escalating digital demands and maximize IT innovation. From mainframe to mobile to multi-cloud and beyond, our solutions empower enterprises of every size and industry to run and reinvent their businesses with efficiency, security, and momentum for the future.