2025 Predictions: What 2024’s SaaS Breaches Mean for Cybersecurity Next Year

The Time to Rethink SaaS Security is Now

Gain visibility into your SaaS risks to keep your client, employees and business data secure

Five Best Practices to Kickstart your SaaS Security Strategy

Is your SaaS Data Secure?

Protect Customer Data on SaaS Platforms

SaaS platforms are great for boosting efficiency and managing data, but as they increasingly handle sensitive information, securing them becomes crucial. But the complexity of SaaS systems and their distributed ownership often leads to security gaps.

Considering the massive $197 billion that financial services spent on SaaS in 2023¹, their investment in security seems minimal.

300%

Increase in financial services cyber attacks over the past decade²

52%

of financial services organizations still rely on manual SaaS cybersecurity audits³

$5.9M

is the average cost of a financial services data breach⁴

SaaS Can Create a Wealth of Attack Points

Privileged users such as IT administrators, the C-suite, and finance and HR departments

Remote workers who expand the attack surface onto personal networks and devices

Shared workstation employees such as bank tellers and call center staff

High-risk transactions such as those done by trading and brokerage employees

It all adds up to a critical need: comprehensive SaaS security. Kickstart your strategy with the five best practices in our infographic.

SaaS is a Critical Part of Your Operations

If your organization is anything like the typical financial services enterprise, you have more than 42 distinct third-party apps and integrations connected to your SaaS environment powering the most crucial areas of your operations:

Online banking

Insurance

Brokerage / market intelligence

Loans

Billing and collections

Credit

Customer insights

Internal Operations

Your customers count on you to protect their sensitive financial data, but AppOmni research shows that SaaS app misconfigurations are one of the most common ways for cybercriminals to gain access to PII data. Add unauthorized third-party app connections to the mix, and you have conditions ripe for a data breach.

Data security isn’t just about building trust in an industry where brand affinity is hard to come by — you also have to tackle the required annual disclosures to the SEC about your risk management, compliance strategy, and cybersecurity governance.

How Modern SaaS Security Can Protect Your Organization

SaaS security is complex. Without ongoing visibility into high risk configurations IT and Security teams will struggle to keep your sensitive data secure. Applying consistent policy frameworks will ensure your approach to SaaS Security is uniform and continuous.