Prescriptive security uses machine learning to identify patterns in data that might indicate attack in progress or zero-day threat. Automation is deployed and prescriptive security services can analyze bulk data gathered over long time and can predict risks early. Prescriptive security services are widely adopted by the financial sector, which boosts its market growth. By analyzing all financial data, it gives precised view whether a payment is suspicious and helps to detect a threat or risk.

We’ll start with high-level general questions and work down to more specific pain points. The goal of prescriptive security is to have a security strategy and plan that is based on a repeatable premeditated plan and system, rather than a security analysts intuition. With a global team of over 6,000 security specialists and a worldwide network of 16 Security Operation Centers (SOCs), Atos offers end-to-end security partnership.

Trusted Partner for your Digital Journey

This document discusses the commercial drivers for the adoption of prescriptive security in banking services and the professional and IT service options available to financial services organizations who choose to improve their security performance in this way. Presently, North America is expected to remain a prominent region in prescriptive security market. Significant investment in safety and security system in various organizations, by vendors and consumers in U.S. and Canada is estimated to deliver positive growth outlook for the prescriptive security market. Industrialization in European countries is projected to create sustainable traction for prescriptive security market. Developing countries including China, India, and others in the Asia Pacific region have shown significant demand for prescriptive security, owing to the emerging trend of the common security framework in smaller and mid-sized organizations.

The AWS SRA contains all AWS security-related services available at the time of publication. (See document history.) However, not every workload or
environment, based on its unique threat exposure, has to deploy every security service. Banks and insurance companies need to adapt their security strategies in response; they need to detect and neutralize cyberattacks proactively before these reach their goal. To do this, banks and insurance companies must detect weak signals in near real time, which isn’t easy.

Prescriptive security for banking institutions

• Increasing safety concern and security threats are expected to boost the growth of prescriptive market. • Adoption of advanced technologies that helps in identifying and reacting to the threats before they occur is anticipated to fuel the growth of the market. The outbreak of COVID 19 has positively impacted the prescriptive market as the companies shifted towards digital technology and remote working policies. Further, for safety of the data, companies are taking measures such as network security this would create the demand for prescriptive solutions and help in boosting the growth of the market.

North America is projected to continue to be a dominant location in the prescriptive security industry. The prescriptive security market is expected to increase positively because of significant investment in safety and security systems by various organizations, vendors, and consumers in the United States and Canada. The prescriptive security business is expected to gain traction in Europe as a result of industrialization.

Regional Analysis:

The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation.

• Please seek Professional advice from a qualified professional before making any financial decisions.
• Failure to understand why and when to use predictive as well as prescriptive analytics is as important as any other step in this process.
• In the aftermath of the COVID-19 pandemic, the BFSI industry has increased its use of technology for online services, and the usage of security and safety has gained popularity during the pandemic crisis.
• The proactive approach to safety employs automation and big data analytics to more accurately identify security occurrences.
• Perspective security is often prioritized to address security risks depending on severity and prevalence and is based on some measure of efficacy utilizing objective and subjective indications.

This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. Key market participants of the Prescriptive security market include Hexagon, Cisco System Inc., IBM, NEC Corporation, SAS Institute Inc., Nice Systems Ltd., SAP ERP, ESRI, Splunk Inc., Verint Systems Inc., ATOS amongst others. While we now live in an increasingly real-time and inherently unpredictable world; we also have a greater breadth of information available to us. Security analysts are all different, and based on talent and abilities can have very different approaches and communicate different priorities.

Information & Technology Clients

I think the real driver behind prescript security is a leadership desire to feel more confident the right security controls are being applied to the proper risks. These are core to a great cybersecurity program and a true professional can help create them. When it comes to troubleshooting complex security issues, diving deep, and analyzing anomalies – it’s really difficult to approach it prescriptively. I’m all about process and systems, and continuous improvement, but most often times prescriptive security completely solve the issue it was intended to solve.

When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Key Industry Developments

Throughout the document,
where appropriate, we suggest options for frequently seen alternative scenarios. This is reflected in the huge resources devoted to this area by the world’s leading banks, with J.P. Morgan Chase spending nearly $600 million each year to strengthen its cyber defenses and in the face of “a constant stream of attacks.” This is not surprising. Research by the Boston Consulting Group has found banks and financial institutions are 300 times more at risk of cyber-attack than companies in other sectors. The potential of AI to transform business performance is only now starting to be more widely understood in Financial Services.

Further, the rapid digitization across the globe help in accelerating the prescriptive security market. Prescriptive technology helps in identifying and reacting to threats before they occur. In addition, it is based on subjective and objective prioritized and indicators to address security vulnerabilities based on prevalence and severity. There are many things businesses can do to ensure their success and make better decisions. Data analytics is one tool that they have at their disposal to reach these goals.

Company Profile

Data protection is also key to the industry and is being forced by the new European General Data Protection Regulation (GDPR). Data protection requires all information to be correlated so suspicion attempts at accessing information can be detected and eliminated rapidly. Let’s discuss these threats in a little more detail and explore how ‘Prescriptive Security’ can relieve the pressure on financial institutions. Analysts’ rankings that consider security maturity may be affected; in turn, affecting the refinancing condition of a bank and the cost of risk for insurers. Following any serious incident, thoughts will turn to reviewing how the incident occurred, and how to predict and prevent similar attacks in future.

Digital Vision: Digital Banking

These are only adding to the pressure by inflating the cost of managing risk and compliance. But some of financial institutions’ largest threats come from inside their four walls; digital offers disgruntled employees new opportunities for getting rich quick. • Rules and regulation imposed by the government mandating prescriptive standards for all market players is anticipated to restrict the growth of the market. • High cost of prescriptive security systems is expected to hinder the growth of the market.

Atos launches Atos OneCloud

Because of the growing usage of the common security framework in small and medium-sized businesses, emerging countries in the Asia Pacific region, such as India, China, and others, have demonstrated a strong demand for prescriptive security. In the aftermath of the COVID-19 pandemic, the BFSI industry has increased its use of technology for online services, and the usage of security and safety has gained popularity during the pandemic crisis. Furthermore, the global financial freeze has impacted financial and banking services significantly.