Finance Industry Fault Lines: Profit and Compliance Compatibility
Proactively strengthening a company's cyber readiness against a breach of its most fundamental asset, i.e., data, can significantly mitigate some of these hits to profitability formulas and revenue projections.
June 24, 2021 at 12:00 PM
9 minute read
Financial Services and BankingProfit margins and projected revenue are some of the foremost indicators of a corporation's long-term sustainability. But fault lines can form down the middle of a company's financial outlook when certain business issues are not adequately addressed. Issues range from regulatory compliance to costly enforcement, customer retention, increasing competition, and maybe the most consequential in this fast moving global digital information economy—cybersecurity/data privacy breaches. Proactively strengthening a company's cyber readiness against a breach of its most fundamental asset, i.e., data, can significantly mitigate some of these hits to profitability formulas and revenue projections to ensure continued and sustained long-term growth.
Perhaps few industries feel these pressures quite like the banking industry, which relies on relentless innovation to address rising consumer expectations and the ability to rapidly adapt to changing global outlooks. It is no surprise then that corporate CEOs across the board are putting a cybersecurity breach and all its fallout near, or at the top, of their list of worries. Particularly in the financial sector, nowhere is that profitability model tested and affected in the aftermath of a cyber breach than on a publicly traded stock price. Or is it?
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