Banks, credit unions, wealth managers, and fintech startups run on real‑time data and iron‑clad trust. Yet 65 % of financial‑services organizations were hit by ransomware in 2024—and recovery now averages $2.58 million per incident. Sophos NewsInvenio IT A Managed Service Provider (MSP) that speaks GLBA, SOX, PCI‑DSS, and FINRA keeps your systems—and your reputation—safe and always on.
IT Pain Points That Hit Finance Hard
| Challenge | What It Really Costs |
|---|---|
| Minute‑to‑minute uptime | A trading or core‑banking crash drains $1 M+ per hour.Outsource IT Support |
| Exploding attack surface | 18 % of finance firms paid ransom after breaches in 2024.Invenio IT |
| Tough compliance stack | SEC & FINRA now expect public disclosure of “material” cyber events.FINRA |
| Shadow IT & SaaS sprawl | Unvetted apps expose client PII and trigger GLBA fines. |
| Hybrid & remote advisors | Off‑network devices bypass layered office security. |
| Deepfake & AI fraud | FINRA warns GenAI scams are surging across brokerage accounts.WSJ |
Seven Ways an MSP Gives Financial Firms the Edge
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24 × 7 SOC & SIEM Monitoring
Correlates logs across clouds, cores, and ATMs to block threats in real time. -
Zero‑Trust Remote Access
MFA‑protected portals let advisors reach CRMs without risky VPN tunnels. -
Regulatory‑Ready Reporting
Automated evidence packs for GLBA Safeguards, SOX Section 404, PCI‑DSS v4.0, and FINRA cybersecurity exams. -
Encrypted Email & File Transfer
Client statements and loan docs move end‑to‑end AES‑256 encrypted—no more zip‑password games. -
Endpoint Detection & Response (EDR)
AI kills ransomware in milliseconds and rolls back any encrypted files. -
Business‑Continuity‑as‑a‑Service
Run trading, LOS, or core‑banking servers in the cloud within 15 minutes of an outage. -
Predictable Flat‑Rate Billing & vCIO
Align tech spend with audit calendars, rate cycles, and M&A pipelines—no surprise break/fix bills.
The Hidden Cost of “Good Enough” Uptime
The global average cost of a data breach climbed to $4.88 million in 2024, while large enterprises now bleed ≈ $9,000 per minute of downtime—$540 K an hour.IBM – United StatesBigPanda For finance, that’s canceled trades, missed wire deadlines, and headline‑grabbing compliance penalties. Proactive monitoring and hardened networks cost pennies compared to one market‑hour outage.