In this episode of TechTalk Detroit, Chuck Lobert and Brian Spurgeon explore how COVID-19 impacted the financial services sector.
💼 The Effects on the Finance Industry
COVID-19 reshaped nearly every industry. However, the effects on the finance industry have been especially complex and ongoing.
Financial firms adapted quickly to remote work, but not without significant cybersecurity and compliance challenges.
Chuck and Brian explain how this transition tested many firms’ preparedness and highlighted key vulnerabilities.
🔐 Can Financial Firms Stay Secure While Remote?
Security and compliance are top priorities for remote financial operations. Without strong safeguards, firms face major risks.
“In finance, remote work increases cybersecurity concerns,” says Chuck. “It’s an advantage—but one that needs serious attention.”
While firms may be compliant in the office, working from home introduces new exposure to threats.
Brian emphasizes the importance of reviewing security practices: “Re-audit yourself to ensure you still meet all compliance requirements.”
🔎 Real Cyber Threats Facing Financial Firms
The effects on the finance industry include a rise in targeted attacks and phishing scams using COVID-19 themes.
“New exploits use the pandemic to trick users,” Chuck notes. “Unfortunately, we expected this kind of activity.”
To stay secure, Chuck and Brian recommend five critical actions:
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Use a VPN: Encrypt data to protect remote connections.
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Implement MFA: Add a second layer of login protection.
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Verify Payments by Phone: Always confirm financial transfers directly.
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Stay Updated: Regularly patch software to close security gaps.
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Train Employees: Teach staff to spot phishing and social engineering attacks.
🧠 Lessons for Financial Businesses
The effects on the finance industry go beyond short-term disruptions. Long-term planning and proactive security are essential.
Chuck warns against sacrificing cybersecurity for convenience: “Remote work shouldn’t come at the cost of protection.”
🤝 Need Help with Secure Remote Work?
If you’re unsure about your cybersecurity strategy, don’t go it alone.
Vision Computer Solutions can help you assess your systems, improve remote work processes, and reduce risk.
🎧 Final Thoughts
COVID-19 continues to reshape how financial services operate. The effects on the finance industry are still evolving.
Listen to this episode of TechTalk Detroit to learn how your firm can adapt—and stay protected.
👉 Tune in now to hear practical solutions for secure, remote finance operations.
Like this article? Check out the following blogs to learn more:
TechTalk Detroit: Working From Home
On-Demand Webinar: Can Your Business Survive a 2-Week Quarantine?
Do You Know How To Support Your Employees’ Productivity While They Work From Home?
