On average , enterprises deploy 45 cybersecurity-related tools . However , there is a definite lack of cohesiveness in determining what is going well and what could be better . To put it in perspective , enterprises that deploy over 50 cybersecurity tools rank themselves 8 % lower in their ability to detect threats than other companies employing fewer toolsets !
There is no industry standard determining the fundamentals enabling financial institutes ( FI ) to answer one simple question : How secure are they today ? When
Managing , mitigating and measuring risk objectively is the fundamental shift required , and this comes with the knowledge of an enterprise ’ s breach likelihood . the CEO can be held accountable for an organisation ’ s breach ( as per the GDPR ), the board gets more curious and involved in the decisionmaking processes of cybersecurity than ever before .
In such a scenario , cybersecurity should transform from being jargon-rich to simple , unified and easy . Managing , mitigating and measuring risk objectively is the fundamental shift required , and this comes with the knowledge of an enterprise ’ s breach likelihood .
Financial institutions needed to adopt breach likelihood yesterday
Gartner defines Integrated Risk Management ( IRM ) as “ practices and processes supported by a risk-aware culture and enabling technologies , that improve decision making and performance
INTELLIGENT TECH CHANNELS Issue 46 39