3 Considerations When Choosing a Cloud Security Provider

BIZTECH STAF | December 5, 2018

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Most small banks and credit unions simply can’t afford a $250,000-a-year cyberthreat hunter or security researcher. Many are lucky if they have a full-time IT support person on staff, let alone one with specialized security certifications and expertise.EY’s Global Information Security Survey 2018-2019 found that 87 percent of organizations don’t have sufficient budget resources to deliver the levels of cybersecurity and resilience they want.Cloud-based security solutions from providers such as McAfee, Symantec, Trend Micro and many others represent a lower cost option for financial services firms that can’t forgo security but may not otherwise be able to justify the spend.“Just remember that whatever the bank does, it can’t outsource risk,” says Paul Sussex, who leads EY’s financial services digital transformation and cloud strategy practice.

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