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The Financial Sector Experiences More Cyberattacks than Other Verticals, and those Incidents Result in Costlier Outcomes

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77% of financial organizations detected an attack on their infrastructure within the last 12 months, compared to 68% among other sectors.
FRISCO, Texas, Dec. 19, 2023 /PRNewswire/ — Netwrix, a cybersecurity vendor that makes data security easy, today revealed additional findings for the financial, banking and accounting sector from its survey of 1,610 IT and security professionals from more than 100 countries.

According to the report, within the last 12 months, 77% of financial organizations detected a cyberattack, compared to 68% among other industries. Phishing and ransomware were the most common types of attacks across all sectors.
“Financial organizations are highly targeted by cybercriminals for several reasons. First, these organizations store large volumes of valuable information, which adversaries are naturally eager to steal. Moreover, they manage access to funds, which means any operational disruption is highly problematic. Accordingly, ransomware gangs may believe that financial institutions are more likely to pay a hefty ransom than other potential victims,” says Dirk Schrader, VP of Security Research at Netwrix.
The financial sector also experiences more targeted attacks on their IT infrastructure than other sectors. Indeed, 39% of financial organizations reported targeted attacks on their cloud infrastructure and 26% suffered targeted attacks on their on-premises footprint, higher than the 30% and 19%, respectively, reported among organizations overall.
“Because finance is a high-risk and highly regulated sector, financial organizations tend to have a more mature IT team, better security controls and more vigilant employees. As a result, attackers must leverage targeted attacks with more sophisticated techniques to infiltrate their IT environments,” says Ilia Sotnikov, Security Strategist at Netwrix.
The financial sector also reports higher expenses as a result of cyberattacks than other industries. In fact, 24% of financial organizations estimated their damage from incidents to be at least $50,000, compared to just 16% among organizations overall. To mitigate this risk, 73% of respondents in the financial sector either have a cyber insurance policy or plan to acquire one within the next 12 months, compared to just 59% of organizations in other industries. However, given the sector’s risk profile, insurance companies impose stricter security requirements on financial organizations: 49% of them needed to improve identity and access management (IAM) and 48% had to comply with privileged access management (PAM) requirements, compared to 38% and 36%, respectively, in other sectors.
To learn more about security trends, check out the complete 2023 Hybrid Security Trends Report from Netwrix.
About Netwrix
Netwrix makes data security easy. Since 2006, Netwrix solutions have been simplifying the lives of security professionals by enabling them to identify and protect sensitive data to reduce the risk of a breach, and to detect, respond to and recover from attacks, limiting their impact. More than 13,500 organizations worldwide rely on Netwrix solutions to strengthen their security and compliance posture across all three primary attack vectors: data, identity and infrastructure.
For more information, visit www.netwrix.com. 
CONTACT:
Erin JonesAvista PR for NetwrixP: 704.664.2170E: [email protected]
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DriveNets Expands Partner Ecosystem in India

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NMSWorks, Teleindia and Nuvem Labs partnering with DriveNets to accelerate solution delivery and customer support, and expand DriveNets Network Cloud’s global customer base
NEW DELHI, Oct. 14, 2024 /PRNewswire/ — DriveNets – a leader in innovative networking solutions – today announced it is expanding its partner ecosystem in India with the addition of NMSWorks, Teleindia and Nuvem Labs to its partner network. This major expansion further deepens DriveNets’ local presence and engagement with the Indian industry, which will enable DriveNets to collaborate and develop solutions with leading, local companies and grow its presence with Tier 1 and Tier 2 operators, as well as government customers, in India and beyond. 

 
 
“DriveNets is already engaging in multiple large-scale customer projects in India, and we rely on our partners to ensure we have a strong local presence and that our customers enjoy reliable, timely support,” said Nir Gasko, VP Global Strategic Alliances. “Adding these three leading partners to our global ecosystem will create a more holistic, end-to-end solution delivery system for our local service providers.” 
“DriveNets is excited to work with these three partners as we expand our presence across India, ensure our local customers and have the resources they need,” said Rupa Chatterjee, VP & Managing Director, India & SAARC at DriveNets. 
NMSWorks Software
NMSWorks is an India-based company delivering network management solutions to some of the largest and most demanding telecom service providers, network equipment vendors and enterprises, including Bharti Airtel, TATA Communications, BSNL, Google, and more.
NMSWorks’ solutions complement DriveNets network management system (DNOR) with extended provisioning capabilities, fault and performance management, and service assurance, enabling network convergence and management plane consistency across multiple networking domains. The tight integration with DriveNets Network Cloud on REST-based APIs provides our joint customers with high degrees of automation in operations which eliminate errors and inefficiencies and improve network reliability.
NMSWorks and DriveNets recently completed a successful end-to-end management evaluation with a Tier1 customer in India.
Teleindia
Teleindia Networks, established in 2006, is an India-based telecom service provider offering comprehensive solutions and services to support efficient network rollouts. These include system integration, network design, project management, and NOC (Network Operations Center) services. Teleindia also extends its expertise into Data Center services, providing Co-location (CoLO), Hosting, and Cloud solutions.
With its advanced capabilities, Teleindia has solidified its position in the global market as a reliable service provider across various domains, including IP, Optical, and Data Center technologies.
In collaboration with DriveNets, Teleindia will play a pivotal role in driving DriveNets’ expansion into new markets, such as AI/datacenters, government, and enterprise sectors. With extensive experience in large-scale telecom and data center projects, Teleindia is well-positioned to foster innovation and support the evolving needs of these industries.
Nuvem Labs
Nuvem Labs, a global IT consulting, specializes in crafting highly scalable, world-class consulting processes. With a proven track record collaborating with some of the world’s largest organizations, Nuvem Labs will provide DriveNets customers in India, operators and government offices, a trusted local partner that is highly experienced in rolling out network solutions.
Visit DriveNets in booth 4.1.10 & 4.1.29 at India Mobile Congress, October 15-18, in New Delhi.
Learn more about DriveNets’ solutions here.
About DriveNets
DriveNets is a leader in high-scale disaggregated networking solutions. Founded in 2015, DriveNets modernizes the way service providers, cloud providers and hyperscalers build networks, streamlining network operations, increasing network performance at scale, and improving their economic model. DriveNets’ solutions – Network Cloud and Network Cloud-AI – adapt the architectural model of hyperscale cloud to telco-grade networking and support any network use case – from core-to-edge to AI networking – over a shared physical infrastructure of standard white-boxes, radically simplifying the network’s operations and offering telco-scale performance and reliability with hyperscale elasticity. DriveNets’ solutions are currently deployed in the world’s largest networks. Learn more at www.drivenets.com
Media contact:Crystal [email protected]  Martin [email protected] 
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Novotech Awarded Frost & Sullivan’s 2024 Global Company of the Year Award for Its Leadership and Excellence in Biotech CRO Services

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Novotech’s innovative full-service approach accelerates clinical development with advanced analytics, diverse global patient access, and specialized technology.
SAN ANTONIO, Oct. 14, 2024 /PRNewswire/ — Frost & Sullivan recently conducted an in-depth analysis of the biotech contract research organization (CRO) industry and based on its findings, has awarded Novotech the 2024 Global Company of the Year Award. As a leading global full-service CRO with over 25 years of experience, Novotech specializes in providing comprehensive early- to late-phase clinical development services tailored to biotech companies.

Novotech enables biotech companies to navigate the complex global regulatory landscape by leveraging its extensive expertise in local regulations and deep understanding of cultural nuances. With 34 office locations across the United States, Europe, and the Asia-Pacific region—including Australia, China, India, Malaysia, New Zealand, and Thailand—Novotech’s global presence ensures that biotech firms receive tailored solutions that meet their unique needs. Additionally, Novotech distinguishes itself by providing access to diverse patient populations and accelerating recruitment timelines, significantly enhancing the efficiency and effectiveness of clinical trials.
Novotech is known for its customer-centric approach and proactive problem-solving strategies. The company employs a project manager-centric model, where dedicated and highly skilled project managers assume full ownership of clinical trials, ensuring seamless communication and efficient project execution. This model enhances the overall customer experience and fosters strong, collaborative client relationships. Additionally, through strategic partnerships and the integration of advanced technologies, including eClinical solutions and bioanalytical services, Novotech is firmly positioned as a leader in the biotech CRO market.
“Overall, Novotech distinguishes itself in the ever-expanding CRO market by successfully addressing the complex regulatory landscape with a deep understanding of local regulations and overcoming cultural barriers to establish itself as a truly global CRO. As a result, the company progresses closer to becoming a preferred global partner with regional leadership and localized expertise,” said Unmesh Lal, Global Research Director at Frost & Sullivan.
Novotech remains at the forefront of leveraging advanced technologies to revolutionize the clinical research landscape, driving greater trial efficiency and effectiveness. The company’s continuous investments in artificial intelligence (AI), big data and advanced analytics, digital clinical trials, and cloud-based software platforms have significantly elevated its clinical research capabilities. For instance, through its long-standing partnership with Veeva, Novotech enhances its biotech clients’ drug development programs by streamlining processes, improving data visibility, and providing advanced trial planning and predictive capabilities.
In parallel with its technological advancements, Novotech’s comprehensive bioanalytical services portfolio significantly enhances clinical trial efficiency. The company operates state-of-the-art central laboratories equipped with cutting-edge technologies, such as liquid chromatography-mass spectrometry (LC-MS). Located in key regions, including China and South Korea, these facilities process thousands of samples each month, supporting bioavailability, bioequivalence, and pharmacokinetic assessments. This robust infrastructure ensures that Novotech delivers precise and reliable data, thereby accelerating the drug development process for its expanding client base.
“Novotech continually invests in cutting-edge technology, including piloting a range of AI-enabled approaches, significantly expediting study timelines. In macro terms, Novotech increased the efficiency of some of its processes by a remarkable 10 to 20% in 2023, which in turn translates to increased speed for its biotech clients,” noted Sama Suwal, Best Practices Research Analyst.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence, in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership, in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Contact:
Tarini SinghP: +91- 9953764546E: [email protected] 
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Symmetrium Introduces New Partner Program to Enhance Resell Opportunities

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TEL AVIV, Israel, Oct. 14, 2024 /PRNewswire/ — Symmetrium, the zero-trust, mobile data governance, and security platform designed to turn any mobile device into a virtual extension of the enterprise, inheriting all its compliance, security and IT protocols, is excited to announce the launch of the new Symmetrium Partner Program. The new program is open to all channel partners, including resellers, distributors and MSPs.

Through this program, Symmetrium provides a comprehensive suite of resources to deliver a robust zero-trust mobile security framework to protect the data of their customers and empower its partners to increase their business outcomes.
“Symmetrium believes that partners are a core component of our business success, enabling us to reach more customers and meet the global demand for our innovative corporate zero-trust mobile security solution,” said Omer Cohen, founder and CEO of Symmetrium. “With mobile security a key vulnerability for corporate networks in the era of hybrid working, we look forward to collaborating with our partners worldwide to help solve the threats businesses face from remote access to their networks. We look forward to expanding our partner ecosystem and helping our partners deliver stellar services and customer experiences.”
Symmetrium Partners are eligible for a suite of additional benefits in the areas of sales, marketing and support, including a deal registration program, lead sharing, a dedicated marketing manager, marketing resources and a comprehensive enablement plan.
The new program offers partners access to Symmetrium’s fully managed support services, designed to reduce the resources required by partners, allowing them to focus on delivering exceptional customer experiences.
For more information and to sign up for Symmetrium’s partner visit https://symmetrium.io/partners.
About Symmetrium
Symmetrium is a zero-trust, mobile data governance and security platform designed to turn any mobile device into a virtual extension of the enterprise, inheriting all its compliance, security and IT protocols. Symmetrium keeps no data at risk by allowing no data at rest, all while delivering users a completely native mobile access solution that can be quickly and easily deployed.
Media Contact:Roni [email protected]

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