--- title: Infrastructure Access Considerations for Financial Services description: Financial services companies face outsized cybersecurity risk, with breach costs averaging $18.3M annually per Accenture data and the banking sector 300 times... canonical: https://daily.dev/posts/infrastructure-access-considerations-for-financial-services-fskvmxxpa twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Infrastructure Access Considerations for Financial Services | daily.dev og:description: Financial services companies face outsized cybersecurity risk, with breach costs averaging $18.3M annually per Accenture data and the banking sector 300 times... og:url: https://daily.dev/posts/infrastructure-access-considerations-for-financial-services-fskvmxxpa og:image: https://api.daily.dev/og/posts/FskvmxXPA.png og:image:alt: Infrastructure Access Considerations for Financial Services og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Infrastructure Access Considerations for Financial Services **[Teleport](https://daily.dev/sources/teleport)** · 6 min read · 0 upvotes · 0 comments ## Summary Financial services companies face outsized cybersecurity risk, with breach costs averaging $18.3M annually per Accenture data and the banking sector 300 times more likely to be attacked than other industries. Survey data shows 83% of organizations cannot guarantee former employees no longer have infrastructure access, and 70% still rely on passwords despite these being the leading cause of breaches. Budgets for infrastructure access technologies are expected to grow, with just-in-time access, zero-trust architectures, and passwordless access ranked as top priorities. The piece pitches short-lived identity-based certificates, and specifically Teleport's platform, as the solution, noting adoption by companies like Nasdaq, Goldman Sachs, and Square. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### What percentage of data breaches are caused by human error? About 88% of breaches are caused by human error, according to a joint study from Stanford University and security firm Tessian. Weak or stolen credentials, such as passwords, are cited as the leading cause of data breaches, yet roughly 70% of organizations still rely on passwords to grant infrastructure access. _Teams weighing password alternatives can track infrastructure security research on daily.dev._ ### How much does the average data breach cost a financial services company? Financial services companies face average annual cybercrime costs of $18.3M, the highest of any industry, according to an Accenture cost of cybercrime study. IBM data puts the general average breach cost at $4M, rising to about $6M within financial services specifically, with breaches taking an average of 206 days to detect and 73 more days to contain. _Engineers building the security case for their organization can follow breach cost data on daily.dev._ ### What access methods are financial services organizations prioritizing to replace passwords? Organizations rank just-in-time access (89%), zero-trust architectures (86%), and passwordless access (77%) as important or very important for future infrastructure access investment. Only 32% of IT, DevOps, and security professionals currently use short-lived identity-based certificates, despite them being cited as one of the most effective ways to prevent unauthorized infrastructure access. _Practitioners deciding between access control models can follow zero-trust and passwordless trends on daily.dev._ ## Similar posts on daily.dev - [Business continuity and cybersecurity: Two sides of the same coin](https://daily.dev/posts/business-continuity-and-cybersecurity-two-sides-of-the-same-coin-wjv1nmkaf) · CSO Online · 0 upvotes · 0 comments - [Is Cyber Facing an Affordability Crisis?](https://daily.dev/posts/is-cyber-facing-an-affordability-crisis--dagu9ljlu) · Dark Reading · 1 upvotes · 0 comments - [4 Best Practices for Effective Data Security Protection](https://daily.dev/posts/4-best-practices-for-effective-data-security-protection-306nnzqse) · Decube · 0 upvotes · 0 comments - [80\+ Cybersecurity Statistics for 2025](https://daily.dev/posts/80-cybersecurity-statistics-for-2025-ubc4cl4tq) · Spacelift · 0 upvotes · 0 comments --- Tags: [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/infrastructure-access-considerations-for-financial-services-fskvmxxpa) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Infrastructure Access Considerations for Financial Services","url":"https://daily.dev/posts/infrastructure-access-considerations-for-financial-services-fskvmxxpa","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/infrastructure-access-considerations-for-financial-services-fskvmxxpa"},"datePublished":"2026-08-23T12:21:46.519Z","dateModified":"2026-08-23T12:39:36.472Z","description":"Financial services companies face outsized cybersecurity risk, with breach costs averaging $18.3M annually per Accenture data and the banking sector 300 times...","image":"https://media.daily.dev/image/upload/s--2-1xRawN--/f_auto/v1722860399/public/Placeholder%2011","thumbnailUrl":"https://media.daily.dev/image/upload/s--2-1xRawN--/f_auto/v1722860399/public/Placeholder%2011","isAccessibleForFree":true,"articleSection":"Teleport","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"Teleport","logo":"https://media.daily.dev/image/upload/s--Dw-Bbw6O--/c_limit,w_256/f_auto,q_auto/v1787487494/logos/teleport?_a=BAMAMicg0","url":"https://daily.dev/sources/teleport"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/infrastructure-access-considerations-for-financial-services-fskvmxxpa","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"fintech","timeRequired":"PT6M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"Teleport","item":"https://daily.dev/sources/teleport"},{"@type":"ListItem","position":3,"name":"Infrastructure Access Considerations for Financial Services"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/infrastructure-access-considerations-for-financial-services-fskvmxxpa#faq","mainEntity":[{"@type":"Question","name":"What percentage of data breaches are caused by human error?","acceptedAnswer":{"@type":"Answer","text":"About 88% of breaches are caused by human error, according to a joint study from Stanford University and security firm Tessian. 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