Attention Business and Technology Editors
PRESS RELEASE: OCTOBER 4, 2024
OTSEC: 40% of Fintech Firms Report Supply Chain Vulnerabilities Amid Rising Cyber Threats
OTSEC and www.fintechsecurity.ca Join Forces to Protect the Canadian Banking and Finance Sector with Advanced Cybersecurity Solutions
Toronto, Canada, October 4, 2024 – A recent study conducted by OTSEC (OT Industrial Cybersecurity Canada) has revealed that 40% of fintech firms are reporting significant vulnerabilities in their supply chains as cyber threats continue to escalate. These findings highlight a critical need for advanced cybersecurity measures to protect the Canadian banking and finance sectors from the growing risks associated with third-party vendors. In response to this pressing issue, OTSEC and www.fintechsecurity.ca have partnered to deliver specialized cybersecurity solutions tailored to the fintech industry.
To explore more about safeguarding your business, visitors can access the Free PDF Report on Open Banking and Consumer Protection on www.fintechsecurity.ca, offering key insights on fortifying compliance and understanding emerging threats.
As the fintech sector experiences rapid growth and innovation, it also faces increasing exposure to cyberattacks through supply chain vulnerabilities. The interconnectivity between financial technology companies and their suppliers makes the entire ecosystem more vulnerable to security breaches, which can have devastating financial and reputational consequences. OTSEC and www.fintechsecurity.ca offer cutting-edge tools and services to help fintech companies safeguard their operations and mitigate risks throughout the supply chain.
“Supply chain vulnerabilities represent one of the greatest threats to Canada’s fintech industry,” said Claudiu Popa, CEO of OTSEC. “With cyber threats on the rise, it’s critical that companies take proactive steps to secure not only their internal systems but also the vendors and partners they rely on. www.fintechsecurity.ca is designed to provide the most advanced cybersecurity solutions to ensure the resilience of Canada’s banking and finance sectors.”
Key Features of www.fintechsecurity.ca:
- Supply Chain Security Assessments: Comprehensive evaluations of third-party vendors to identify potential vulnerabilities and risks within the supply chain.
- Advanced Threat Detection: Cutting-edge tools designed to detect and neutralize cyber threats before they can impact critical financial systems.
- Incident Response Planning: Tailored strategies to prepare for, respond to, and recover from cyber incidents, minimizing downtime and losses.
- Regulatory Compliance Support: Solutions to help fintech firms meet the stringent security and privacy requirements of regulations such as PIPEDA, GDPR, and industry-specific standards.
By addressing supply chain vulnerabilities, OTSEC and www.fintechsecurity.ca are helping fintech companies build more secure ecosystems, reduce the risk of cyberattacks, and ensure compliance with evolving regulations. The partnership aims to provide holistic cybersecurity solutions to protect Canada’s banking and financial sectors from rising threats.
About the Company:
www.fintechsecurity.ca is a project by the Informatica Group of Companies.
Datarisk Canada and Managed Privacy Canada specialize in managed security and privacy solutions for the small and mid-size market, with products and solutions designed to meet the growing needs of approved professional associations.
MEDIA QUESTIONS:
Media and interviews: Claudiu Popa, Risk Advisor
[email protected]
Follow OTSEC on Twitter:@otsec019 or at
https://Facebook.Datarisk.ca and
https://LinkedIN.OTSEC.ca