Cybersecurity for Hedge Funds: Safeguarding the Technology Stack

In recent years, technology has completely transformed the investment landscape and process, reshaping how financial firms approach investing. Technology has greatly impacted how hedge funds operate, creating easier access to information and automating trading decisions. These advancements also come with great challenges, particularly when it comes to cybersecurity. 

Using data-driven insights has allowed traders to quickly analyze potential investments. New algorithmic trading systems are able to analyze large quantities of data in just seconds, allowing investors to react to fast-paced market events and take advantage of short-term opportunities. 

Another aspect in which technology has improved the investment process is with financial planning software which allows companies to monitor and analyze their financial data and look at cash flows with a click of a button. Simplifying how we can access our financial data has also allowed financial firms to work outside the office, especially post-pandemic.

Research from Deloitte suggests that 92% of investment management firms are implementing, or are planning to implement technologies that enable their people to work from anywhere. Social distancing and remote working environments increase the need for seamless two-way communication across multiple digital channels. 

Having your financial data uploaded and readily available does come at a significant cost to your private data security.

Now, more than ever, financial institutions have to ensure that their IT infrastructure can handle the changing requirements and regulations for the industry, but also bolster their systems with proactive and agile platforms that can respond to threats quickly and efficiently. Having a trusted managed service provider (MSP), like Thrive, can help keep all of your data secure and keep your firm up to date with ongoing training and compliance.  

Thrive’s Financial Operations Platform manages the full investment lifecycle through front, middle, and back office via our single custody private Cloud. Our Financial Operations Platform enables organizations to put investors at ease, as well as serves as a comprehensive tool during a potential regulatory or registration process with the SEC, FINRA, SIPC, MSRB and NFA.

Implementing robust cybersecurity practices, staying informed about emerging threats and creating a risk mitigation plan, and fostering a culture of security awareness amongst your firm, are essential for navigating this evolving tech landscape safely. Striking a delicate balance between technological innovation and a safeguarded cybersecurity plan, the financial industry can continue to thrive in this digital era.


Thrive acquires Edge Technology Group enhancing current staff and services to the financial services vertical, Podcast

John Holland, Chief Revenue Officer at Thrive speaks with Don Witt of The Channel Daily News, a TR publication about their recent acquisition of the Edge Technology Group and their focus on the financial community. It has highly specialized needs that Thrive has been involved with for many years and has developed specific technology enabling them to deliver the best and most secure services possible to Wall Street profiled organizations.

Listen in to John discuss their operation and their corporate dedication to providing the best service possible.

How to Defend Against Social Engineering Attacks in Banking

Cybersecurity has fundamentally altered the security landscape of financial institutions. Of the very many threats and tactics, Business Email Compromises are the most common and the most compromising. Banks and financial institutions, now more than ever, need to implement habitual practices to strengthen their cyber defense against BEC, before it is too late.

The Urgency and Imperative for Financial Institutions to Mitigate Cyber Attacks

While banks and financial firms have long been a core target for malicious online threats, Enterprise Talk notes that the global pandemic has created much more complexity within the Cyber Security threat landscape.

It is estimated, with the increase in fake domains, phishing scams, DDoS attacks, Cyber crime damages will cost the world $6 trillion annually by 2021, with the majority directed towards financial institutions and banks.

The pandemic has only added fuel to the fire. In response, the Financial Conduct Authority called for institutions to pay closer attention to information security and to increase monitoring guard endpoints, information, and critical processes such as network connections.

Many banks and financial organizations have invested millions into their Cyber Security efforts. However, they have failed to incorporate security platforms and instead relied on manual processes, which has translated into an increase in attacks. In addition, the added pressure to maintain compliance while trying to protect sensitive data from breaches continues to mount.

This increased cyber threat level to financial institutions has a new sense of urgency that can be difficult to navigate. How those financial businesses respond will determine their future, which is why it is important to turn to proven experts to mitigate their risks and help them become not only compliant, but give them the peace of mind that they are secure.

Thrive works with some of the largest hedge fund and financial services companies, as well as many of the top regional banks in the Northeast, providing them industry-leading Cyber Security services tailor-made for the FinTech industry.

Backed by an unmatched portfolio of Cyber Security services and an expert team with decades of financial services industry experience, Thrive provides businesses a comprehensive Cyber Security plan that covers vital data, SaaS applications, end-users, and critical infrastructure.

Interested in learning more? CONTACT US TODAY!