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The Future of Adaptive Authentication in Financial Services

BankInfoSecurity

The number of cyberattacks on financial institutions (FIs) cannot be overstated. In the past year, there have been more than one billion cyberattacks on financial institutions. That is three hundred times more than any other industry, such as retail, insurance, or healthcare. At an average cost of $18 million dollars for each successful attack, what are you to do? How do you combat this aggressively growing threat? In this webinar, OneSpan and ISMG will summarize key findings from a recent study that surveyed the state of adaptive authentication from over 150 FIs and what techniques can be taken to mitigate the increasing rate of cyberthreats.
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The Cybersecurity and Infrastructure Security Agency (CISA) leads the nation’s effort to understand, manage, and reduce cybersecurity risk, including by supporting Federal Civilian Executive Branch agencies in evolving and operationalizing cybersecurity programs and capabilities. CISA’s Zero Trust Maturity Model (ZTMM) provides an approach to achieve continued modernization efforts related to zero trust within a rapidly evolving environment and technology landscape. This ZTMM is one of many paths that an organization can take in designing and implementing their transition plan to zero trust architectures in accordance with Executive Order (EO) 14028 “Improving the Nation’s Cybersecurity” § (3)(b)(ii),1 which requires that agencies develop a plan to implement a Zero Trust Architecture (ZTA). While the ZTMM is specifically tailored for federal agencies as required by EO 14028, all organizations should review and consider adoption of the approaches outlined in this document.

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