The financial sector always remains on the hit list of external threats. The banking and IT sector must be worried about this as they perform multi-billion dollar activity every day. Cybercrime is for sure a big concern for this sector. As a result of covid 19, the number of #cybercrime increased sharply. It is always time-consuming and labor-intensive to find out if you are under attack or not. Here is when XDR can help these industries to protect themselves against cyber thefts. XDR as a tool has come out to be capable enough to detect and report external threats effectively.
According to recent statistics, the cost of a cyber-attack on a financial services organization is $18.3 million, with 70% of such companies experiencing a #security issue in 2019 and 70% of bank supervisors considering cyber-attacks as their top concern.
Below are some benefits of XDR in the banking and IT sector
1) Data Collection and Analysis from Various Sources
XDR monitors data patterns to discover suspicious behavior inside your network. It also monitors traffic, files, and other data points throughout your network. Every day, XDR’s automated correlation and AI make your security environment safer.
2) Ideal for processing sensitive information:
We all know how important it is to keep clients’ credentials safe. The banking sector holds tons of data related to its clients. An unknown virus once entering your system, may lead to immediate data loss, or even data theft in a fraction of time. XDR has been designed to read new virus patterns and detect them easily. This enables you to process sensitive information like- customer data and payment information safely.
3) Easy integration with cloud:-
Financial services enterprises are increasingly considering moving their applications to the cloud. However, security concerns prevent many businesses from operating critical activities or technologies on-premises. XDR provides cross-border integration, cloud service delivery (through AWS, Azure, and others), and cloud API interaction. These built-in, seamless connectors facilitate tool onboarding and maintenance, whether in the cloud or on-premises.
4) Threat hunting:
#cyberattacks are happening through the website, DNS, or any SQL injection. These attacks don’t need any infected files. XDR actively analyses every traffic for abnormalities and distinguishes the threat, and prevents it.