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Discover the alarming findings of a recent survey revealing data breaches in financial organizations due to Content Management Systems (CMS).

A recent survey revealed that 50% of organizations have had data breaches over the past three years, a finding that exposes the weaknesses of content management systems (CMS) in the financial services sector. A research from Forrit, a provider of next-generation CMS solutions, found that 75 percent of financial organizations use a CMS, with Adobe, WordPress, and HubSpot being the most popular options. The use of numerous CMS systems by many (88%), increasing security risks, is also prevalent.

In the previous three years, 50% of individuals questioned by Forrit acknowledged having experienced a data breach; this percentage rose in the banking (61%) and wealth management (68%) industries. The survey also revealed that a CMS breach had the greatest impact on 77% of FSI organizations with revenues of more than £500 million.

In addition to highlighting CMS security risks, the report “The Content Management System Market in 2023: What Marketers in Financial Services Really Think” also provides practical advice for resolving security, compliance, branding, integration, and efficiency-related problems.

According to Peter Proud, CEO of Forrit, “We know security and compliance are crucial given the extremely sensitive nature of information and stringent regulatory requirements in the financial services sector. Marketing professionals can be certain that they are lowering security risk while boosting compliance by adopting options like a cloud-based CMS that interfaces with the rest of their system and using templates.

CMS

Other discoveries

The report also looks at the worries that marketers have about localization, efficiency, and integration.

More than a quarter (26%) of those polled indicated their CMS has zero integration with other platforms.
The industries most likely to face this are insurance and reinsurance, with respective responses of 39% and 41%.

Across the board, financial services marketers highlighted other problems with usability (47%) and maintaining brand standards (38%).

Regardless of the size of the organization, Proud stated, “Nearly all the problems senior marketers mentioned in our research could be resolved by employing a single CMS platform. The simplest way to get past all the problems that marketers found with their CMSs is to adopt a single platform that is safe, adaptable, user-friendly, and scalable. It is more secure and can grow with your company as it expands.

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