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Backup & Disaster Recovery

Compliance & Governance

Threat Detection & Monitoring

Encryption & Data Protection

Identity & Access Management

AWS Security: A Fortress for Financial Services

Ensuring Compliance, Protecting Data, and Building Trust in the Financial Sector

Over 64% of financial services companies have 1,000+ sensitive files open to every employee.

This puts them at risk of non-compliance with regulations like the EU General Data Protection Regulation (GDPR), Sarbanes-Oxley (SOX) and California Consumer Privacy Act (CCPA) — which all require strict controls on sensitive information. Violators could face prison and (in the case of GDPR) millions of dollars or 4% of global revenues in fines.

Compliance & Governance

AWS’s compliance framework supports a wide range of regulatory requirements, helping financial institutions meet standards like PCI-DSS, SOC 1/2/3, and ISO 27001.

Customer PII is both the most common and most costly type of record that was compromised in 2023. Ensuring proper encryption practices will protect both customer and employee PII in the event of a breach.

Encryption & Data Protection

AWS offers comprehensive encryption solutions for data at rest and in transit, ensuring sensitive financial data remains protected from unauthorized access and breaches.

passwords that
never expire.

500+

60% of companies have

of the company’s total files

13%

On average, a financial servicesemployee has access to

(source: Varonis (2021)) Leveraging IAM tools reduces the risk of an ‘External Remote Access’ attack vector due to an employee’s compromised credentials

Identity and Access Manaagement (IAM)

AWS IAM allows financial institutionsto securely manage user access with multi-factor authentication (MFA) and temporary tokenized credentials. This reduces the risk of compromised long-term passwords, which are a major vector for ransomware attacks.

$6.08m

On average, 29% of the cost of a data breach comes fromloss of business

The average cost of a data breach in the Financial Services industry was $6.08m in 2023

Backup & Disaster Recovery

AWS offers reliable backup and disaster recovery solutions, ensuring financial institutions can quickly recover from unexpected events and maintain business continuity.

According to a study by IBM in 2023 , 1 in 3 companies discovered a data breach through their own security teams, highlighting a need for better threat detection. 67% of breaches were reported by a benign third party or by the attackers themselves. When attackers disclosed a breach, it cost organizations nearly $1 million more compared to internal detection. GuardDuty and Security Hub provide comprehensive monitoring and threat detection such that you can accurately detect and respond to threats earlier.

Threat Detection & Monitoring

AWS provides advanced threat detection services like Amazon GuardDuty and AWS Security Hub, which continuously monitor and analyze account activity to identify potential threats and vulnerabilities.