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What You Need to Know About Cybersecurity and Compliance for Financial Services Companies

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Financial institutions have always been a target for criminals, from targeted ransomware and poor password security to today’s cybercriminals who are attacking the infrastructure and support of your business. Data breaches and ransomware that affect hundreds of millions of Americans are a regular occurrence — and these attacks can have a devastating impact on the operations and productivity of the host organizations. This is particularly true for financial services companies whose livelihood is determined in part by consumer confidence. Without the proactive support of an IT managed services provider, financial entities can find themselves suffering untold losses that could damage the prospects of the business for years to come.

Security and Compliance Are Interconnected

Ensuring that your operations are fully secure starts with a deep understanding of your data storage and IT infrastructure, and documenting this information can often support your compliance requirements as well. The data stored in and transmitted through your organization is a point of extreme risk, and it can be challenging for even the most tech-savvy business users to fully understand the complexities of the modern data stream. Bringing together internal technology and business teams with external cybersecurity support provides a comprehensive view of the business in the context of the regulatory environment.

Increasing Cybersecurity Regulations

The United States government has been pumping out cybersecurity regulations at an accelerated pace since 2014, with more than 30 laws released in that period alone while the global threat landscape continues to evolve. While provided in an attempt to protect consumers, many of these regulations require intense scrutiny to ensure your organization is fully compliant. Reporting structures continue to burden financial services businesses which can result in lost time and inefficiencies. Each time a new regulation takes effect, businesses must pause and determine the organizational impact and make any required shifts to their infrastructure to remain compliant.

At Coretelligent, we believe that Co-Managed solutions provide the best opportunity for success in today’s fast-paced business world. Your team is empowered to focus on technology innovation while our experts help with cybersecurity and compliance management, infrastructure support and cloud-based storage solutions. Learn more about Coretelligent’s IT service offerings by contacting us at 855-841-5888 today or via email to

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