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FintechCybersecurity is Essential for Risk Management: Optimizing Security Spend Cloud-Native Platforms

Cybersecurity is Essential for Risk Management: Optimizing Security Spend Cloud-Native Platforms

The modern threat landscape is evolving at an unprecedented rate. Attackers are continuously deploying more sophisticated techniques and it can be hard for Chief Information Security Officers (CISOs) to know whether they’re investing their cybersecurity
budgets in the right places. In challenging economic climates, cybersecurity must remain a top business priority for organizations as global attacks continue to rise. 

According to the
, 1,802 organizational compromises impacted over 422 million individual victims in 2022. When we think about data breaches, we mostly think of big attacks that make global headlines. Yet, attacks on small and medium-sized enterprises (SMEs) also cause
detrimental consequences and can create greater financial repercussions. 

In today’s digital environment, even small organizations have more endpoints and attack surfaces that can be targeted than ever before. CISOs need to explore how to manage rising digital risk via affordable, yet robust, security solutions. 

Organizations can make their budgets go further by evaluating which security model works best for their business. Businesses with security teams stretched thin by overwhelming amounts of data need an easy-to-deploy solution that can reduce the burden of
managing threats.  


A Costly Security Challenge 

Many organizations are exploring new ways to optimize their security spending in an era where budgets are strained by the ever-growing digital attack surface. The main challenge is cutting costs without compromising security performance.  

For years, on-premises solutions have been a staple of most toolsets against cybercriminals. However, these solutions are not the best fit for all organizations. Businesses operating with small security teams require a more flexible solution that makes finding
and responding to threats easier and faster.  

Organizations also need to consider whether investing large amounts of time into maintaining the back-end structure is an efficient approach for their business. For organizations with limited security resources, taking time to become proficient with managing
the platform can result in delays in threat detection. This means the investment that organizations put into upscaling their security posture may not produce the immediate results they were hoping for. 

Security teams that are stretched thin can balance threat fighting and cost savings by embracing a flexible cloud-native Software as a Service (SaaS) platform. 


Maximizing Budgets with a Cloud-Native Approach 

Deploying a cloud-native security platform enables overstretched security teams to take charge of emerging risks while streamlining operational efficiency. This allows teams to access and utilize more of their budgets, creating more bandwidth to focus on

With a cloud-native platform, organizations gain the following benefits to make the most of their security budgets: 

  • Efficient Deployment – Deploying a cloud-native security platform is a more streamlined process for security teams as it doesn’t require setting up hardware and software from scratch. Instead, this is overseen by the platform provider. By
    eliminating the need for internal installation, organizations can free themselves from complex configuration processes and see rapid ROI from their cloud-native platform. 


  • Seamless Scalability – Cloud-native SaaS platforms follow a subscription fee to use the software, which eliminates upfront costs and allows for scalability based on user needs. Security teams can easily scale to accommodate varying numbers
    of users, supporting future growth.  


  • Easy Updates and Maintenance – Ensuring that systems are running on the latest patches can be a time-consuming process for security teams. By leveraging automated updates within a cloud-native platform, organizations can save time and effort
    spent on manual updates and maintenance. This allows the Security Operations Centre (SOC) team to focus on more critical tasks such as threat hunting, and running playbooks, rather than being burdened with product upgrades. 


  • Increased Accessibility – It can be difficult to search, investigate, and fully understand the meaning behind overwhelming amounts of log data. Instead of taking up time and resources sifting through data, security teams could instead be
    spending the time fighting back against emerging risks. With a solution that handles log data, security teams can optimize their time to fully take advantage of budgets. Cloud-native solutions provide easy search capabilities and continual monitoring via widgets
    and dashboards. Analysts benefit from guided and instinctual workflows to make tasks simpler to accomplish. 


A Cost-Efficient Future for Security 

In an ever-growing threat landscape, it pays to be prepared rather than dealing with costly problems down the line. By implementing a cloud-native solution, companies with overstretched security teams can maximize the cost efficiency of their security capabilities,
without sacrificing service quality.  

By investing in these platforms now, organizations can make budgets go further while protecting against the constant stream of modern threats. 





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