Vietnam Cyber ​​Security Joint Stock Company (VSEC) – a provider of MSSP cybersecurity services – has proudly received the Cybersecurity Excellence Awards 2026 in the Financial Services category. This means VSEC has achieved international certification for its system protection capabilities in the banking, finance, and insurance sector (BFSI). 

The financial sector continues to be a prime target for attacks. 

According to VSEC’s Cybersecurity Report 2025 and Trend Forecast 2026, the banking and finance sector continues to be the most targeted area in cybersecurity events. Specifically, 43% of server-side events and 48% of network device-side events belong to the BFSI sector. 

“In the financial sector, where any disruption can cause significant losses, cybersecurity is no longer a backroom protection but has become an integral part of core operations,”   a VSEC expert stated. 

A notable finding is that many organizations only detect incidents after their systems have already been compromised. Over 90% of businesses conducting Compromise Assessments report evidence of malware presence in their systems. This indicates that attacks are becoming increasingly long-term, capable of remaining hidden before stealing data or causing disruption – especially in BFSI environments where data is highly valuable and connectivity is increasingly extensive. 

International recognition requires capabilities that go beyond technology

In the context of increasingly complex and persistent threats within systems, international cybersecurity awards such as the Cybersecurity Excellence Awards are increasingly prioritizing verifiable capabilities in practice, rather than just focusing on technology or product portfolios. 

The evaluation criteria focus on the ability to detect problems early, conduct data-driven analysis, and effectively handle incidents in a continuous operation environment – ​​particularly important for the financial sector. 

This also clearly reflects the role of MSSP units: not only providing tools, but also offering monitoring, detection, and response capabilities based on real-world experience. For the BFSI (Banking – Finance – Insurance) sector, the core value lies in the ability to identify risks early, minimize the duration of threats, and ensure system continuity. 

This shows that observations in the financial sector also reveal a clear shift: from evaluating technological capabilities to assessing actual operational capabilities – the core element that MSSP models aim for. 

Holger Schulze, founder of Cybersecurity Insiders and organizer of the Cybersecurity Excellence Awards emphasized that, as the program marks its 10-year milestone in recognizing excellence in cybersecurity, VSEC’s commitment to innovation, consistent dedication, and leadership have set a strong example with meaningful impact across the industry.

MSSP – A suitable approach to the financial security problem

Financial institutions are inherently highly mature in adopting modern technology and possess highly skilled IT teams. Given the significant need to optimize operating budgets while simultaneously updating technology and enhancing team quality, it’s understandable that these institutions utilize both in-house and outsourced security services. The challenge lies in choosing a reliable security service provider that meets the organization’s high standards.  

As an MSSP, VSEC focuses on providing monitoring, analysis, and incident response capabilities based on real-world data and implementation experience in financial systems. This also helps organizations gain deep industry knowledge and quickly deliver solutions tailored to their specific needs. 

Financial Sector Cybersecurity Service Model (BFSI) 

Through this, businesses can easily access advanced cybersecurity capabilities without investing all their internal resources, while ensuring continuous monitoring and incident response. The Prevention – Detection – Response lifecycle operating model, combined with an understanding of system and market specifics, is becoming a key factor in the context of an increasingly expanding financial ecosystem with multiple layers of connections between banks, fintech, and third-party services.