Cyber Security in Finance
We protect financial services from ever-changing cyber threats, safeguarding institutions from economic and reputational damage.
Financial services are under attack. 70% of UK financial institutions suffered some form of cyber attack in 2020.1 The digital transformation trend has opened up a multitude of weaknesses in the way institutions work, with 91% of mobile banking apps having at least one medium-risk vulnerability. With many incumbent banks relying on decades-old legacy systems to manage their operations, the risk increases dramatically. The older the system, the less safe it is to new and complex cyber attacks.
A constantly shifting threat is banging on your digital door. So, who are you going to call?
Critical Software can help your institution identify and mitigate the risk of cyber threats, preventing fraud and bolstering anti-money laundering procedures. We provide state-of-the-art security testing, assessing your system risk through flexible vulnerability assessments and penetration tests. We believe cyber security starts before the first line of code is written, which is why we integrate it into systems we design from Day One.
Open Banking is a relatively new area within financial services – and it’s anything but still. That makes it difficult for firms without expert in-house compliance teams, from incumbents to FinTechs, to keep up with the constant changes. We specialise in keeping systems compliant with cyber security standards and implementing cyber defences through software development, using cyber security maturity diagnoses and security management system implementation, covering frameworks and standards such as the SWIFT Customer Security Controls Framework, the GDPR, PCI-DSS and PSD2.