\nFlexibility in the development of digital products and services<\/p>\n<\/li>\n<\/ul>\n
However, the financial sector is one of the most vulnerable to cyber attacks and is heavily regulated. That’s why the cloud must not only be efficient, but above all secure and compliant with regulations<\/strong>. <\/p>\nThe biggest threats to cloud data security<\/h2>\n
Financial institutions most often face the following risks:<\/p>\n
1. configuration errors<\/h3>\n
Poorly set access permissions to data and cloud resources can lead to data leakage.<\/p>\n
2. lack of control over user identities<\/h3>\n
Overly broad permissions or lack of user segmentation results in the risk of abuse.<\/p>\n
3 Malware and DDoS attacks<\/h3>\n
The cloud is vulnerable to modern forms of attacks – especially if there is insufficient monitoring.<\/p>\n
4 Inadequate data encryption<\/h3>\n
The lack of data encryption at rest and in transmission increases vulnerability to interception.<\/p>\n
Regulation and compliance in the financial sector<\/h2>\n
The financial sector must operate in compliance with many regulations, both domestic and international:<\/p>\n
\n- \n
RODO<\/strong> – personal data protection<\/p>\n<\/li>\n- \n
PSD2<\/strong> – security of electronic payments<\/p>\n<\/li>\n- \n
DORA<\/strong> – digital resilience of financial institutions in the EU<\/p>\n<\/li>\n- \n
KNF, EBA, ISO 27001<\/strong> – local and industry security standards<\/p>\n<\/li>\n<\/ul>\nThe cloud must support mechanisms such as:<\/p>\n
\n- \n
Full auditability of administrators’ and users’ actions<\/p>\n<\/li>\n
- \n
Identity and access management (IAM)<\/p>\n<\/li>\n
- \n
Encryption of data and keys<\/p>\n<\/li>\n
- \n
Secure APIs and vulnerability testing<\/p>\n<\/li>\n<\/ul>\n
![\"\"](\"https:\/\/ramsdata.com.pl\/wp-content\/uploads\/2024\/12\/1-68.jpg\")
<\/h2>\nTechnology solutions to enhance cloud security<\/h2>\n
Here are key technologies that support the security of cloud environments in finance:<\/p>\n
\n- \n
IAM (Identity & Access Management)<\/strong> – identity management and access control<\/p>\n<\/li>\n- \n
MFA (Multi-Factor Authentication)<\/strong> – additional verification of users<\/p>\n<\/li>\n- \n
DLP (Data Loss Prevention)<\/strong> – protection against unauthorized data sharing<\/p>\n<\/li>\n- \n
SIEM (Security Information and Event Management)<\/strong> – monitoring and detection of incidents<\/p>\n<\/li>\n- \n
CSPM (Cloud Security Posture Management)<\/strong> – detection of configuration errors and policy non-compliance<\/p>\n<\/li>\n- \n
Data encryption<\/strong> – protecting data at rest and in motion<\/p>\n<\/li>\n<\/ul>\nRecommendations for financial institutions<\/h2>\n
To effectively secure data and systems in the cloud, organizations should:<\/p>\n
\n- \n
Implement a Zero Trust<\/strong> model – every access attempt must be verified<\/p>\n<\/li>\n- \n
Use MFA and IAM<\/strong> to manage access<\/p>\n<\/li>\n- \n
Conduct continuous monitoring and auditing of user activities<\/strong><\/p>\n<\/li>\n- \n
Ensure regulatory compliance<\/strong> and update security policies<\/p>\n<\/li>\n- \n
Conduct regular penetration testing and risk analysis<\/strong><\/p>\n<\/li>\n- \n
Choose cloud providers that offer comprehensive security mechanisms<\/strong><\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"Migration to the cloud in the financial sector is no longer a trend, but a necessity. Banks, fintechs, insurers and payment institutions are increasingly using cloud solutions to improve flexibility, scalability and innovation. However, as the infrastructure grows, so do new risks – from unauthorized access to configuration errors to regulatory compliance. For this reason, […]<\/p>\n","protected":false},"author":1,"featured_media":33835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[56],"tags":[],"class_list":["post-39197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/posts\/39197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/comments?post=39197"}],"version-history":[{"count":0,"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/posts\/39197\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/media\/33835"}],"wp:attachment":[{"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/media?parent=39197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/categories?post=39197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ramsdata.com.pl\/en\/wp-json\/wp\/v2\/tags?post=39197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}