CHANGES in the banking sector associated with new digital initiatives have ushered in an unprecedented number of cybersecurity risks.
As seen in recent times, key activities in the financial ecosystem can be disrupted by cyber incidents, so risk management and secure network protocols have become indispensable. With cybercriminals relentlessly pursuing financial gain, data breaches are becoming more frequent and sophisticated, highlighting vulnerabilities in this industry.
We are facing a highly competitive landscape in which traditional banks, financial technology disruptors and fintechs are aiming to win the market, and for success in this, delivering a seamless digital experience is crucial. However, such institutions must be aware of potential vulnerabilities while trying to win the innovation race. Adopting digital technologies is essential, but so is ensuring that these technologies are safeguarded against constantly evolving threats.
Cybersecurity in banking
Within the changing digital landscape of the banking system, security teams are at the forefront of this complex battle. The financial sector is a favourite target for cyber attackers seeking monetary gain,…
