Finance sector firms primed for security investment hike

The work from home requirement instigated by Covid-19 will provide a security investment boost in a sector that perhaps needs it most, according to Richard Burke (pictured)), CEO at Arrow Business Communications.

He said money spent on bricks and mortar by finance sector businesses pre-pandemic is likely to be redirected into bolstering security across dispersed workforces, creating new opportunities for security resellers.

“The rise of online banking and secure customer portals means financial organisations no longer require expensive bricks and mortar branches,” he said.

“Companies will be able to invest more in cyber security, creating secure connections for their remote workers, robust mobile platforms for their customers and, on top of everything else, trying to maintain their competitive edge.”

Rufus Grig, CSO at Maintel, says that now is the time to take a long-term view of security with highly sensitive data now being accessed from more locations than ever before.

“In recent months businesses have overcome many of the challenges posed by home working, utilising enterprise-grade technology, connectivity and security to keep their employees online,” he said.

“Going forward, employees must also be able to collaborate and share data across multiple locations in a secure manner, something that is of vital importance for companies in the finance sector. Security is paramount given the data that financial companies collect.”

Rob Mukherjee, Director of Transformation at EveryCloud, is urging clients to shift from a mindset of working from home to working from anywhere securely.

He said: “Data is everywhere, people are everywhere, so companies need to adopt true cloud-based security solutions, regardless of where that data is stored and regardless of where a person is physically located.”


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