The SaaS Security Buyer’s Guide for Financial Services

Five Key Considerations and Checklist for Evaluating Your SaaS Security Solution

Financial organizations are increasingly reliant on SaaS applications to manage everything from bank information to administrative and operational functions. But SaaS apps introduce unique security challenges, and SaaS security goes beyond mere regulatory compliance such as the Sarbanes-Oxley Act (SOX) in the United States.

Breaches in this sector not only risk severe financial penalties, with the average cost of a breach reaching $5.9M in 2023,¹ but also compromise customer trust. If enterprises want to avoid costly breaches, improve operational resilience, and remain compliant with ever-changing regulatory standards, it’s critical that they prioritize SaaS security.

But SaaS security introduces unique challenges that traditional cybersecurity tooling is not equipped to address. To protect their SaaS data, organizations need a robust SaaS security posture management (SSPM) platform that offers the depth of coverage, flexibility at scale, and security expertise needed to remain secure and compliant.

This Buyer’s Guide captures the definitive criteria for choosing the right SaaS Security Posture Management (SSPM) vendor and partner.

In this guide, you will learn:

• How to address the four most common SaaS security challenges facing enterprises today
• Why traditional tooling like CASBs and CSPM platforms leave SaaS apps vulnerable to attacks
• 25 questions you should be asking in your SaaS security assessment
• Criteria for choosing the right platform and provider to accelerate your company’s SaaS security journey

Let’s get you started on a path to a more secure SaaS environment.

¹ IBM Cost of a Breach 2023 Report