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I spent this week in Tokyo Japan meeting with a few dozen financial services organizations. The primary purpose of my visit was to work with a few folks from the local McAfee team, pictured here, to discuss threats and trends within the financial services industry.
Financial institutions are diverse with multiple business models such as: private banks, investment services including asset and hedge fund management, stock brokerages, insurance, and conglomerates. These organizations are highly competitive because differentiators between financial services organizations are often opaque. They are extremely dependent on their IT assets operating as designed and even small issues over a limited amount of time can cost millions. And in a business where keeping sensitive, private data safe is paramount, the volume, velocity and variety of data passing through their mission-critical assets can be staggering and can require substantial capital and operational expenditures to protect. As such, there are four key areas they are focusing: cost reduction, data protection, agility, and compliance.