NEWS
44 % of financial institutions believe IT teams are the main risk to cloud security
Netwrix has announced additional findings for the financial and banking sector from its global 2022 Cloud Data Security Report .
Compared to other industries surveyed , financial institutions are much more concerned about users who have legitimate access to their cloud infrastructure . Indeed , 44 % of respondents say their own IT staff poses the biggest risk to data security in the cloud , while 47 % worry about contractors and partners . This is compared to 30 % and 36 % respectively in other verticals surveyed .
“ Financial organisations experience accidental data leakage more often than companies in other verticals : 32 % of them reported this type of security incident within the last 12 months , compared to the average of 25 %,” said Dirk Schrader , VP of Security Research at Netwrix . “ This is a good reason for them to be concerned about users who might unintentionally expose sensitive information . To address this threat , organisations need to implement a zero-standing privilege approach in which elevated access rights are granted only when they are needed and only for as long as needed .
“ Cloud misconfigurations are another common reason for accidental data leakage . Therefore , security teams must continually monitor the integrity of their cloud configurations , ideally with a dedicated solution that automates the process .”
Data literacy to be the most in-demand skill for financial services sector by 2030
Employees working in the financial services and banking industry are at risk of being left behind if they do not develop data literacy skills , according to research from Qlik . The majority of C-suite executives ( 85 %) working in the industry believe that their staff would struggle in the future workplace without them .
According to the report , Data Literacy : The Upskilling Evolution , developed in partnership with The Future Laboratory , the demand for data literacy skills comes at a time when employees report their use of data and its importance in decision-making has more than doubled over the past year . This has been most evident in the finance industry when compared to retail , healthcare , HR and manufacturing . As a result , both business leaders and employees ranked data literacy as the most indemand skill in the sector by 2030 .
“ Data literacy is not a nice to have , it ’ s a necessity and business leaders need to wake up to this ,” said Dr Paul Barth , Global Head of Data Literacy at Qlik . “ To gain competitive advantage and in many cases , stay alive in the uncertain economic climate we are in , all business decisions must be grounded in data .” �
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