Here is the converted article in Markdown format:

Zero Trust: The New Standard for Financial Cybersecurity

In today’s digital landscape, financial institutions are increasingly vulnerable to cyber threats. To mitigate these risks, a new approach is emerging: zero trust. This concept assumes that no user or device can be trusted and requires constant verification of identities and access controls.

Multi-Factor Authentication: A Key Component of Zero Trust

One way to implement zero trust is through multi-factor authentication (MFA). Ekran System offers 2FA, sending a unique code to a trusted mobile device for added security. This ensures that even if a user’s password is compromised, the attacker will not be able to access sensitive information.

Password Management: A Critical Layer of Defense

Seventy-one percent of companies attribute credential compromise as one of the main routes into breaching an organization’s security. To combat this, Ekran System’s password management functionality generates and manages user credentials efficiently, performs automatic password rotation for Windows and Active Directory accounts, and provides users with one-time passwords.

Continuous Monitoring: The Eyes and Ears of Your Security Operation

User activity monitoring plays a crucial role in detecting and preventing insider and outsider threats. Ekran System’s advanced reporting capabilities allow you to generate customizable reports on user activity, providing valuable insights into employee productivity, active and idle time, websites visited, and more.

Third-Party Risk Management: Don’t Trust Outsiders

Third parties often granted excessive access rights can pose significant risks. Ekran System helps financial institutions monitor and manage third-party activity, ensuring compliance with cybersecurity requirements.

Incident Response Planning: Be Prepared for the Unexpected

A well-thought-out incident response plan (IRP) is essential for financial institutions. Ekran System’s automated IR functionality enables manual and automatic responses to security incidents, including displaying warning messages, blocking sessions, and terminating processes.

Reporting Security Incidents: Transparency Is Key

Notification terms can vary from 72 hours under GDPR to “as soon as possible” under GLBA. Ekran System’s actionable alert system and AI-powered user behavior analytics module help detect suspicious events quickly, enabling timely reporting of security incidents.

Conclusion

The financial sector requires a robust approach to cybersecurity compliance. By implementing zero trust principles, including MFA, password management, continuous monitoring, third-party risk management, incident response planning, and reporting security incidents, financial institutions can reduce cyber risks and protect valuable information. Ekran System’s access management, user activity monitoring, alerting, and reporting capabilities are designed to aid financial organizations in achieving cybersecurity compliance and data protection.