The Australian Fintech is booming with fascinating inventions fuelled by tech-savvy masses. Despite the success story that may result in unheard-of cybersecurity threat of – phishing attacks.
Fintech companies and their clients are at steep risk of facing phishing attacks which are crafted to target valuable data such as login passwords and banking information which is the main target of such emails.
Phishing simulation is a notable tool in the cybersecurity world that is used against phishing attacks. To recreate the authenticity of current phishing problems, these will offer a framework for teaching employees to identify and block them.
In this guide, we cover the main players in the Australian market, and this is how you can get to the right phishing attack simulation provider.
So, guys let’s get started Top 10 Best Phishing Simulation Service Providers for Fintech Companies in Australia:
Understanding Your Needs
As far as going deep into your Fintech company, it’s important to have a good comprehension of what it means for you. Here are some key factors to consider
1. Company Size & Complexity
EBS’s software is more complicated and suitable for a large firm that has more employees, and its modules can create more intelligent simulations with an advanced type of reporting feature.
2. Budget
Price models for human resource management services depend on the service provider. Think about features and geometrical problems when evaluating the costs of your customization and replication needs.
3. Industry Regulations
Australian FinTech Enterprises need to become familiar with data privacy rules and regulations such as the Privacy Act 1998 and its subtleties. Make sure that your selected service provider will provide solutions that meet these requirements. Use our advanced AI essay writing tool to create unique and engaging content for your blog, website, or social media channels.
4. Existing Security Infrastructure
Interoperability with the present security automation and security information and event management (SIEM) platforms is a significant requirement for seamless integration and information total.
10 Best Phishing Simulation Service Providers for Fintech Companies in Australia
1. CyberSapiens: Best Phishing Simulation Company in Australia
CyberSapiens is the best Phishing Simulation Company in Australia. Their experienced cybersecurity professionals are ready to assist you in the event you face a phishing attack.
With a track record of identifying and mitigating over 10,000 cyber threats, they are well-versed in helping businesses protect themselves against phishing attacks.
CyberSapiens has over 5 years of experience in the field, having worked with both private and government institutions worldwide.
Cybersapiens team of cybersecurity specialists understands the intricacies of keeping organizations safe from various cyber threats.
Major key benefits of CyberSapiens
- CyberSapiens provides a wide range of phishing emails and scenarios simulating different attack vectors
- Detailed reporting – The type of reporting system CyberSapiens offer draws very detailed insight into simulation results.
- CyberSapiens has many simulations routinely performed to ensure the highest level of alertness among employees.
Services that CyberSapiens provides
- CyberSapiens offers phishing recreation and awareness training
- CyberSapiens have detailed special programs that they put in place and then, imitate phishing attacks so that organizations can easily evaluate their level of vulnerability.
By partnering with CyberSapiens, fintech companies in Australia can proactively enhance their security posture and protect sensitive information
Clients Served By CyberSapiens
2. KnowBe4
Known worldwide, provides the customer with a robust phishing simulation platform with the whole of predetermined templates and the possibility to make custom-made campaigns.
The way they have gamified the department’s training system is one that contributes to improving the commitment of employees and knowledge retention.
3. Cofense PhishMe
The specific domain of developing awareness training for Cofense PhishMe is conducted with the help of phishing simulation in conjunction with other training materials.
Through real-time reporting and vulnerability assessments, they provide the team leaders with the possibility to determine which employees are ‘vulnerable’ and to know the areas where the team can improve.
4. Hukari
Being custom-made for the Australian market and putting much emphasis on customer interface and simplicity of the registration process,
Hukari is ready to offer all types of clients the banking services they need. Drag and drop interface, at their platform, are amongst tools used for simulation building, integrating seamlessly with popular communication software.
5. MkySec
The customers of MkySec may take advantage of the cloud platform, which provides a way to grow and train users from remote locations, such as a distance education program.
With this platform, it is possible to monitor, using detailed reports, and analytics the progress of employees, and to identify tendencies in the workplace.
6. Abnormal Security
This AI-enabled mechanism does not only imitate the traditional phishing simulations rather, it works by an in-depth analysis of public emails in an intuitive and real-time way.
Abnormal Security can identify phishing techniques that go beyond what an ordinary cyber protection tool can detect as the determined threat actor can easily bypass these tools, this offers an extra layer of protection.
7. Vectra Threat Labs
Directed towards network traffic analysis, Vectra Threat Labs renders phishing simulation services that are among others, the companions to their full-scale threat detection system.
This innovation presents as an integrated one that can be able to present risks of security comprehensively.
8. Mimecast
Mimecast is a cloud-based email security and productivity app bounded with phishing simulation functionality, Mimecast is.
The business employs a double-edged strategy – protecting businesses from email-borne viruses as well as preventing leakage of company data.
9. PhishTank
Although by itself not a full service, PhishTank is merely an additional resource for remaining informed about current phishing trials.
This open-source platform, shared by its users, allows them to indicate and report suspicious emails which in turn makes the internet a more safe place.
10. SpamTitan
Primarily they are email security solutions, and as an add-on feature, SpamTitan offers the possibility of phishing regulation.
This can be both a cheap and a convenient option for companies that are either already using SpamTitan for e-mail protection or intend to start spam filtering with the product.
Why Phishing simulation is important for Fintech companies?
Imagine this: an email suddenly and unidentifiedly occurs in your employee inbox. This one looks to be from a trusted source. Possibly, it is from a bank or a software vendor your company works together with.
A link is provided in this email to enable them to check their account details or the new, urgent update. Seems legit, right?Wrong! This may be a phishing attempt, a clever way being designed to fetch you such sensitive information either like credentials or financial data.
The phishing attack is the most concerning thing for Australian fintech companies that are very trendy and popular at the moment. This could, therefore, result in severe results that might include the exposure and compromising of the customer data, financial incurrences and tarnishing of the name amongst the consumers making your reputation poor.
Thus the question is, how you can safely block out attacks, such as the ones outlined above, which are threats to your Fintech castle finances? A phishing simulation is your A-weapon in the overall struggle against cybercrime.
Choosing the Right Partner
For Fintech company you may want to choose the phishing simulation provider, based on the size of your budget and the complexity of your operations.
Sit a 15-minute meeting with shortlisted vendors to evaluate their features all, see the look and feel, and customer support. Try to choose providers with good experience working in the Fintech area and a performance for which they can be praised.
Conclusion
Phishing simulations are a must-have for all of the fintech companies from Australia’s cybersecurity plan. It is a part of the total strategy.
This training may be performed by demonstrating and testing their efficiency in identifying and detecting phishing attacks and by doing so, the risk of data breaches and monetary losses can be reduced greatly.
A robust choice between different Fintech providers can guarantee a company with the right option for their phishing prevention strategy so that they can build a sound identification and defence process against phishing.
Summary: Top 10 Best Phishing Simulation Service Providers for Fintech Companies in Australia
- CyberSapiens
- KnowBe4
- Cofense PhishMe
- Hukari
- MkySec
- Abnormal Security
- Vectra Threat Labs
- Mimecast
- PhishTank
- SpamTitan
FAQs
1. How often should we conduct phishing simulations?
Ans: Aim for regular simulations, with the frequency depending on your risk profile. Industry best practices suggest conducting simulations at least quarterly, with additional targeted campaigns after security awareness training sessions.
2. What happens if an employee clicks on a simulated phishing email?
Ans: Don’t reprimand employees who fall for simulations. Use it as a teaching opportunity and provide them with additional training resources.
3. Can phishing simulations be customized?
Ans: Most service providers offer a good degree of customization. You can tailor the simulations to reflect the types of phishing attempts your company is most likely to encounter. This could involve using industry-specific language, mimicking the branding of common vendors or partners your employees interact with, and incorporating real-world scenarios relevant to your Fintech operations.
