Maintaining security is key during digital transformation in the financial services sector
06 April 2021
The financial services landscape is changing rapidly as banks face increasing competition from technology-based financial services – from newly established banks to retailers offering mobile transactional banking accounts. Innovation is key to growing the customer base, and this requires digital transformation. While cloud is a major part of the IT strategy of most large financial service enterprises, its adoption was accelerated as a result of the Covid-19 pandemic. This has highlighted the need to address security as a matter of priority, not only to safeguard IT systems, but also to ensure customer data is protected in line with relevant legislation such as the Protection of Personal Information Act (PoPIA).
Cybercrime saw an 'explosion' in 2020 - report
19 March 2021
A cocktail of factors made 2020 a “perfect storm” for cybercrime, accroding to a new report from security firm SonicWall.
Remote working due to the coronavirus pandemic, proliferation of cloud-based solutions and apps, plus a rise in the value of cryptocurrencies all contributed to growth in cybercriminal activity
SonicWall said ransomware reached new heights, with the number of incidents growing by 62%. The Ryuk variant, for example, rose from obscurity to stardom last year, eventually overtaking the top-ranking Cerber variant. It now boasts more than 109.9 million detected cases worldwide.
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The future of networking in 2021
19 March 2021
Digital transformation projects are traditionally carried out over the course of months or even years. However, the Covid-19 pandemic has forced organisations to accelerate these programmes, cutting timeframes down to a matter of weeks. This was a crucial shift as the world had to quickly adapt to a new, remote way of working, and businesses strived to keep both employees and customers happy under challenging circumstances.
These transformations are now being solidified by the continuation of lockdowns across Europe. Lockdowns that have made returning to the office environment a distant prospect. As such, organisations need to maintain their support of the remote workforce, and double down on work-from-anywhere models, to ensure business success over the coming year. Having strong, scalable networks – that connect every individual and device across the company’s digital infrastructure – will be key to achieving this.
Find out more Is your business prepared to recover from a ransomware attack in 2021?
16 March 2021
Kate Mollett, regional director for Commvault
Cybercrime is a multi-billion dollar international industry and is not going away. Ransomware has taken centre stage, with large and highly publicised attacks costing global enterprises significant sums and even putting some out of business. Given the current economic climate, the ongoing work from home scenario and the rapidly growing attack surface, the situation is only going to get worse. Ransomware is also becoming increasingly sophisticated, more difficult to detect, and harder to recover from. For businesses, the question is not if they will be attacked, but when. Being adequately prepared for recovery is critical.