Financial Services

Industry insights

As the digital channel in financial services evolves, cybersecurity has become a business risk, not just a technical risk.

Financial services findings

What is the state of information security in the financial services sector?

Here’s what we learned from our 993 respondents:

  • The constantly evolving cyber-threat landscape is driving the increase in security incidents. The marked increase in the number of detected incidents, in our view, is likely driven by the changing cyber-threat landscape. As the digital channel in financial services continues to evolve, cybersecurity has become a business risk, rather than simply a technical risk.

  • Regulatory compliance remains the top driver of security spending for financial services respondents. Compared with other industries, financial services respondents prioritize regulatory compliance as a driver for security spending. That’s not surprising in a highly regulated industry, but a security model centered on existing compliance standards will not adequately address today’s evolving security threats.

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