Penetration Testing for Financial Industry | Protect your assets (2024)

Financial Industry

Security Beyond Compliance Needs

As technology becomes increasingly prevalent, the financial industry has experienced a corresponding increase in cyberattacks. Financial institutions of all sizes, including banks, credit unions, insurance companies, and new business models, are common targets for attackers. The consequences of a security breach can be severe for financial institutions, including compliance fines, reputation damage, and shareholder concern.

Additionally, many financial institutions have a traditional culture that may not prioritize IT security, leaving them vulnerable to attack. At Qualysec, our dedicated security consultants have extensive experience working with major financial firms and specialize in helping businesses recover from attacks and meet compliance standards

Financial Compliance Requirements

  • Compliance is a critical aspect of financial services, including information security.
  • Financial institutions are required to comply with Gramm-Leach-Bliley Act (GLBA) security requirements, and may also be subject to PCI-DSS and SOX.
  • In addition, many financial firms choose to adopt ISO 27001 as a way to demonstrate proper controls to customers and investors.
  • Adhering to these standards is essential for maintaining the trust and confidence of stakeholders in the financial industry.

Challenges and Threats

  • The financial industry faces a variety of security challenges due to its large, sensitive databases and applications.
  • External threats are not the only concern for IT professionals in this sector.
  • Legacy banking applications, poor development practices, and network complexities can all create vulnerabilities that attackers can exploit.
  • Even the largest financial firms are not immune to these issues, as demonstrated by breaches at JPMorgan and Citi.

Potential Impacts:

  • Service Downtime/Operational Losses
  • Compliance and PCI Fines
  • Reputation Impacts
  • Negative Press/Public Relations
  • Breach Lawsuits/Legal Fees
  • Loss of Customer Trust
  • Loss of Sensitive Data
  • Financial Losses
  • Decreased Productivity
  • Brand Damage
  • Compliance Violations
  • Loss of Business Opportunities

Additional Assessment Services for Finance

Web App Pentest

Qualysec leads the industry in web application penetration testing, identifying vulnerabilities in a range of programming languages and environments. Qualysec’spentest approach goes beyond the test cases mentioned in the OWASP top 10 SANS, NIST frameworks.

Mobile App Pentest

Qualysec offers top-tier mobile app penetration testing services, providing a holistic risk assessment to your mobile application. With industry-leading researchers and methodology in both ioS and Android, we provide deep dive testing into local, on-device security issues, back-end web services, and the API’s which connect them

IoT Pentest

Securing your IoT devices is crucial for the success and sustainability of your business.
Qualysec provides specialized security testing to protect your applications from threats. Our services give you peace of mind that your business is secure.

Cloud Pentest

Secure your cloud infrastructure against security threats. Businesses are shifting towards cloud due to many benefits of its use.

With QualySec you can be assured for the safety of your cloud services and provide compliance assurance.

Process based penetration testing services for the financial industry

Our process manual penetration testing helps identify risks to user data and other sensitive information stored and collected. By uncovering vulnerabilities that may pose a threat to your application and user data, our testing can help ensure the protection of sensitiveinformation.

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what you get from Penetration test?

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Download Sample Penetration Report

what client says about us?

“As a fintech company, security is of the utmost importance to us. Qualysec’s penetration testing services gave us the confidence that our application were secure and compliant. Their team was professional and efficient throughout the process.”

Financial FirmVP Technology

“Our experience with Qualysec was very positive. They offer excellent service, communicated clearly with us throughout the process, and were very accommodating regarding our timelines. We highly recommend Qualysec.”

Large SAAS CompanyCISO

“As IoT company, we needed a security partner that would understand our specific requirements and meet our demanding timelines. Qualysec delivered on all fronts. They were highly communicative, responsive and met our needs within the specified timeframe. We highly recommend Qualysec for any IoT business in need of a reliable security partner.”

Supply chain companyIT Director

“We were impressed by the thoroughness and professionalism of the Qualysec team during our penetration testing engagement. Their findings and recommendations have helped us identify and address potential vulnerabilities, ensuring the security of our ecommerce platform and our customers’ data.”

Large Retail FirmCTO

“Qualysec team was a pleasure to work with and were very patient in explaining the findings of the penetration test to our technical staff. The recommendations provided have already helped us improve our security posture. We would not hesitate to recommend their services to other healthcare organizations.”

Healthcare CompanyCEO

See, How we help other clients like you?

Get a deeper understanding of our process and results by reviewing our case studies.

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If You Need A Penetration Test.
We Want To Talk With You.

This is what you can expect:

  • When you contact us, we don’t put a sales person contact you. Instead, one of our security experts will work with you determine if we are a good mutual fit.
  • We will discuss about your security goal.
  • We figure out the key challenges and needs
  • We create a customized plan that meet the goals that you defined.
  • When we are on the same page we move forward to start the penetration testing.
    Penetration Testing for Financial Industry | Protect your assets (2024)

    FAQs

    What are the 5 steps needed for a successful penetration test? ›

    The Five Phases of Penetration Testing. There are five penetration testing phases: reconnaissance, scanning, vulnerability assessment, exploitation, and reporting.

    What is the purpose of a penetration test? ›

    Penetration testing (or pen testing) is a security exercise where a cyber-security expert attempts to find and exploit vulnerabilities in a computer system. The purpose of this simulated attack is to identify any weak spots in a system's defenses which attackers could take advantage of.

    What is penetration testing Quizlet? ›

    Penetration testing is where you or someone you have paid, attempts to break into your system/ organisation and report weaknesses: e.g. network security, physical access, social engineering. It allows us to find weakness in our technologies and and also gives us an insight into the attacker's mind.

    What are the three 3 types of penetration test? ›

    There are three main penetration testing methods, each with a varying level of information provided to the tester before and during the assessment.
    • #1. Black Box Penetration Testing. ...
    • #2. Grey Box Penetration Testing. ...
    • #3. White Box Penetration Testing.

    What is the most important part of a penetration test? ›

    Reconnaissance is the most important part of a penetration test. It is where you gain information about the target. Reconnaissance is important because the more information you have about the target, the easier it gets when you try to gain access.

    What should a penetration test include? ›

    Four Things Every Penetration Test Report Should Have
    • 1 - Executive Summary for Strategic Direction. The executive summary serves as a high-level view of both risk and business impact in plain English. ...
    • 2 - Walkthrough of Technical Risks. ...
    • 3 - Potential Impact of Vulnerability. ...
    • 4 - Multiple Vulnerability Remediation Options.

    What are the four parts of penetration testing? ›

    Explaining Each of the 4 Phases of Penetration Testing
    • The Planning Phase. As you begin the penetration testing process, a practice lead will start by defining the scope of your security assessment and the pentesting framework. ...
    • The Pre-attack Phase. ...
    • The Attack Phase. ...
    • The Post-Attack Phase.
    Sep 12, 2023

    Who performs penetration testing? ›

    Who performs pen tests? Pen testing is typically performed by testers known as ethical hackers. These ethical hackers are IT experts who use hacking methods to help companies identify possible entry points into their infrastructure.

    What is a full penetration test? ›

    Penetration testing is a way of assessing the security of an computing system or network by exploiting security vulnerabilities. It is carried out by ethical hackers, who use the same techniques as malicious attackers, but without causing damage to the tested system or the organization.

    What is required for penetration testing? ›

    Penetration tester requirements vary depending on the industry. The typical journey to becoming a penetration tester begins with gaining basic technical skills and a functional working knowledge of operating systems, networks, coding, scripting, and programming.

    What are the steps in penetration testing NIST? ›

    Penetration testing typically involves four steps: planning and reconnaissance, identifying vulnerabilities, exploiting vulnerabilities and documenting findings.

    What is the step of penetration? ›

    There are seven penetration testing phases: Pre-engagement phase of Pentesting, reconnaissance, discovery, vulnerability analysis, exploitation and post-exploitation, reporting and recommendations, and Remediation and Rescan.

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