Industry Solutions

Finance

Protect What Matters Most - Consumer Financial Data

Guarding client confidentiality while meeting the requirements of multiple regulations.

Banks, credit unions, credit card brands, and other financial service firms handle more than monetary transactions. They also retain personally identifiable information (PII) and organizational data on their clients, such as bank account, credit card, and Social Security numbers, as well usernames, passwords, and more. Financial information attracts cybercriminals with multiple payoff opportunities, including direct withdrawal access to various accounts and the sale of this information on the dark web, hence why financial institutions are hit with cyberattacks at 300 times the rate of any other industry.

Because of the enormous volume and value of data being processed, the financial services industry is subject to several federal regulations, namely the Sarbanes-Oxley Act (SOX), Gramm-Leach-Bliley Act (GLBA), and Payment Card Industry Data Security Standard (PCI-DSS). To comply with these laws and combat relentless cyberattacks from threat actors who will try any means necessary to infiltrate networks, financial institutions must rely on proactive measures and technologies.

Spirion reduces the risk associated with sensitive personal information and consumer financial data. Accurate visibility into sprawling data repositories enables financial institutions to minimize risk exposure, improve efficiencies, and inform compliant decision-making. Once they know where their most regulated data resides, they can effectively protect it, set broader security strategies, and gradually incorporate additional controls to strengthen defenses and uphold compliance.

Trusted by financial institutions to ensure consumers’ personal and financial data security.

$18.5M

The average annual cost of a data breach per financial institution.

Accenture Ninth Annual Cost of Cybercrime Study

74%

The amount of banks and insurance firms that reported experiencing a rise in cybercrime between 2020 to 2021.
Businesswire

3.5M

The number of unfilled cybersecurity jobs on the market.

Cybercrime Magazine’s 2019/2020 Official Annual Cybersecurity Jobs Report

Meet the requirements of evolving data protection regulations

GLBA

Safeguarding the collection, use, and storage of private financial information

SOX

Securing electronically stored data from fraudulent activity

PCI-DSS

Regulating the transmission and storage of credit card data

GDPR

Ensuring personal data privacy and protection across the European Union

CCPA

Protecting the personal information of California residents