If you’re a financial services firm that has not yet started the process of migrating to the Windows 11 operating system (OS), time is running out to make the switch. Microsoft will stop providing mainstream support for Windows 10 on October 14, 2025, meaning computers still running Windows 10 will no longer receive security updates or patches, bug fixes or assistance.
Any firm still running on the older operating system without extended support after this date will increase its chances of suffering a cyberattack. With Windows 10 machines likely to be left unpatched, businesses will become more vulnerable to everything from malware to phishing, zero-day attacks, and even ransomware.
That’s a particular concern given that financial services is one of the sectors most frequently targeted by cybercriminals and among the industries where the implications of cyber-breaches are most severe. According to the recent IBM Cost of a Data Breach Report 2024, the average cost of a data breach in the financial industry is now US$ 6.08 million. This is 22% more than the global average of $4.88m, making finance the second most expensive industry for data breaches behind only healthcare.
Further underlining the need for them to make the switch in a timely manner, Windows 11 delivers a wide range of cybersecurity-specific benefits for financial services firms.
For example, the new OS authorizes hardware-based security measures such as Secure Boot by default and Trusted Platform Module (TPM) 2.0, which together significantly enhance protection against rootkits, bootkits, and advanced persistent threats. These measures ensure that firmware and software tampering are much more difficult for bad actors to perpetrate, offering robust layers of defense beyond traditional antivirus software.
On top of this, Windows 11 also offers enhanced virtualization-based security features, including enhanced Hypervisor-protected Code Integrity (HVCI), for example. For financial services businesses, these improvements translate directly into stronger protection against sophisticated malware designed to infiltrate intellectual property (IP) and important financial data.
Crucially, transitioning to Windows 11 will help organizations align more closely with regulatory requirements such as regional compliance mandates and regulations like PCI DSS and GDPR. This in turn will help firms avoid incurring substantial fines and the consequent impact on reputation as well as helping to preserve trust with clients and stakeholders.
Given the wide range of security enhancements that the new OS will provide, delaying any further is not an option. For most firms, there is still a lot to do to become compliant with Windows 11.
Moving to Windows 11 will involve undertaking a thorough audit of all endpoint devices, many of which may not be compatible with the new OS. It is likely that you may have to purchase and ship multiple replacement systems, and supply chain issues are likely in the inevitable rush of businesses looking to meet the deadline.
Yet, firms should not be deterred by the perception of the migration process as daunting. Engaging with trusted managed services providers can streamline the process, ensuring minimal operational disruption and maximum compliance. At Abacus Group, our team of experts can assess hardware readiness, facilitate controlled migrations, and train staff on updated security protocols.
The transition to Windows 11 is much more than just another software upgrade – it is a strategic imperative for financial firms looking to protect themselves against ever-evolving cybersecurity threats.
Stay tuned for our next blog, in which we will explain steps to a successful transition.
To find out how Abacus Group can help, contact us now.
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Founded in 2008, Abacus Group is an innovative, award-winning IT and Cybersecurity managed service provider offering an enterprise integrated platform specifically designed for the unique needs of the financial services industry.
