Endpoint Security
Endpoint Security
Closing the Gaps in Endpoint Security in Banking and Financial Services
Tensor API
Importance Of Endpoint Security For Your Financial Institution
Importance Of Endpoint Security For Your Financial Institution
Endpoint security has always been critically important in the financial services industry. It has become even more critical as the spike in remote work has created a proliferation of distributed endpoints. The result is an interwoven landscape of many types of endpoint devices, from laptops to smartphones to IoT devices. This trend, in turn, leads to opportunities for cybercriminals who focus their attacks on endpoint devices.
TensorAPI can optimize your endpoint security. Our security architecture heads off threats and protects sensitive data and transactions.
The trouble with endpoints
The State of Endpoint Security Report shows the extent of endpoint impact on security as 70 percent of enterprise breaches originate at the endpoints. Similarly, the Ponemon Institute’s “The Third Annual Study on the State of Endpoint Security” highlights some shocking statistics:
-68 percent of organizations have seen an increased frequency of cyber attacks focusing on endpoints over the previous twelve months.
-73 percent of respondents point out that new or unknown threats have increased significantly.
-51 percent concede that they are ineffective in threat detection because endpoint solutions are poor at detecting advanced cyber threats.
The types of cyber attacks that originate or utilize endpoints at some point in an attack chain are varied.
Potential consequences of lack of cybersecurity
Potential consequences of lack of cybersecurity
Disruption of Business Services
A breakdown in your ability to safely conduct transactions can be catastrophic.
Financial Losses
Cyberattacks can cause serious financial losses, due to
- loss of time
- loss of data
- data breach recovery
- software fixes
- lawsuits
- even ransom
Reallocation of Resources
You want to direct time and energy to servicing your clients and growing your business, not to worrying about security. Partnering with TensorAPI, your institution can ensure that cyberthreats don’t obstruct innovation and consume precious time and resources that could otherwise be used more productively.
Damage to Reputation
After an attack, the blame and reputational damage usually fall on the financial institution. This erodes public confidence and weakens trust with customers and prospective customers. The result can be loss of existing and prospective customers.
Regulatory Issues
Security problems can put you out of compliance with data privacy laws. There can be large consequential fines, and your organization could even be barred from doing business in a particular country.
What we do
How Can We Help You?
How Can We Help You?
Comprehensive Layered Security
Identify and prevent even never-before-seen threats with a comprehensive set of technologies.
Identify Threats Without Slowdowns
Tensor API Endpoint Security prevents and detects threats without causing slowdowns for users.
Simplified Security Management for Scalability
Easily deployed and scalable Security Solution to protect any number of endpoints.
Tensor API Blog
Recent News and Updates
Blockchain Technology in Banking: Enhancing Security for Banks and Customers
Blockchain technology is a transformative force for the banking industry. It brings a new level of security and transparency that both banks and customers can benefit from. With the immutability of records, transparency, and the efficiency of smart contracts, blockchain is poised to create a banking system that is not only more secure but also more customer-centric and globally accessible. As the financial sector continues to evolve, blockchain is at the forefront, paving the way for a safer and more efficient future.
Strengthening Security: A Case Study on Endpoint Security for Smaller Community Banks
Smaller community banks must recognize the critical importance of endpoint security in today’s digital landscape. The implementation of comprehensive endpoint security measures not only protects against cyber threats but also enhances regulatory compliance, reduces costs, and bolsters customer trust.
Investing in endpoint security is a prudent decision for any bank, regardless of its size, as it safeguards both the institution’s assets and the sensitive financial data of its customers. By taking proactive steps to protect their digital endpoints, community banks can continue to serve their communities with confidence in an increasingly digital world.
Enhancing API Security in Open Banking Through Blockchain Technology: A Case Study
The case study demonstrates that blockchain technology can be a powerful tool for enhancing API security in open banking. Its decentralized, immutable, and trustless nature addresses key security concerns while providing the transparency and automation necessary for modern financial systems. However, successful implementation requires careful planning, ongoing investment, and a commitment to educating all stakeholders.
As open banking continues to evolve and expand worldwide, the adoption of blockchain technology can play a pivotal role in ensuring the security and privacy of customer data while promoting innovation and competition in the financial industry.
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