Zero Trust Segmentation protects critical banking systems

Illumio keeps financial services operational

Financial services are critical infrastructure

The deep interdependencies between banks, the local and global economies they serve, and the potential threats instability poses means organizations must deliver services reliably while ensuring they protect customer data, adhere to regulations, and maintain trust.

Why is cybersecurity essential to BFSI?

Protecting customer data
Achieving regulatory compliance
Enabling digital transformation

Disruption is prevalent and costly

^#1
Financial services was the top industry targeted by cybercriminals for five consecutive years of 2016-2020.
^$5.97
million
The average cost of a data breach in financial services reached $5.97 million in 2021, 37% higher than the average across other industries.
55^%
In banking, lost business accounts for 55% of the cost of a breach.

Cyber resilience requires an “assume breach” mindset

The objective of cyber resilience is to maintain the organization’s ability to deliver services continuously. This means doing so even when regular delivery mechanisms have failed, such as during a crisis or after a security breach.

Unlike cybersecurity, which is designed to protect systems, networks, and data from cybercrimes, cyber resilience is designed to prevent systems and networks from being derailed in the event that security is compromised.

Cyber resilience helps businesses to recognize that attackers can be successful in their attempt with the advantage of innovative tools, the element of surprise, and a target — this is the definition of an "assume breach" mindset. This concept helps businesses to prepare, prevent, respond, and successfully recover to the intended secure state.

Challenges to cyber resilience in financial services

A diverse technology estate makes delivery of consistent security posture a challenge
Complex processes mean realizing value from new capabilities is often slow
Regulatory demands often force over-burdening of controls (e.g., PCI-DSS scoping)
Pressure of accelerating digital transformation leads to an uneasy balance between productivity and security
Banking applications are highly interconnected (both within the bank and with counterparties) and are at increased risk of supply chain attacks

Illumio's value to the Banking sector

Illumio enables banks to prevent cyberattacks from causing major business failures by stopping ransomware and breaches from spreading to critical systems and data. Watch this video to learn three ways the Illumio ZTS Platform helps banks and financial organizations improve their overall cyber resilience.

How does Illumio help?

Protect customer data
- Understand all access to systems that handle the enterprise’s critical data
- Implement security policies to limit access to systems
- Report and analyze all traffic that does not match rules
Achieve regulatory compliance
- Map dependencies of in-scope applications
- Protect regulated applications with granular segmentation policies
- Monitor policy and connectivity for compliance violations
Enable digital transformation
- Visualize relationships between application components across the data center and cloud
- Secure applications consistently as they transform from on premises to cloud native
- Integrate with DevOps processes to automate security at scale

Illumio provides cyber resilience to banking and financial businesses around the world

Illumio CloudSecure will provide visibility and control over our cloud-native applications, so we can understand and respond to risk across clouds and on-premises environments together, to enhance resiliency, maintain compliance, and ultimately protect our business and our customers.

Leading Australian financial institution

Segmentation became an imperative next step to mitigate risk and protect new and legacy workloads. We needed a way to accurately identify, visualize, and control lateral traffic.

Nathan Powell

IT Operations Manager,
Investa

Read the story

Illumio is a strategic partner in our Zero Trust journey...Illumio Core will only further our ability to create and enforce modern security policy and transition parts of our business to the cloud with confidence and at hyper-scale.

Jessica Ferguson

CISO,
DocuSign

Related resources

Zero Trust Segmentation in Banking and Financial Services

Guide

Zero Trust Segmentation in Banking and Financial Services

See why banks and other financial institutions are using Zero Trust Segmentation as a defense against inevitable cyberattacks.

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3 Ways Zero Trust Segmentation Helps Financial Organizations

Video

3 Ways Zero Trust Segmentation Helps Financial Organizations

Here are three ways Zero Trust Segmentation helps financial organizations address cybersecurity challenges and improve their overall cyber resilience.

Read now Watch video