The financial industry faces big challenges around increasing regulations and the persistence of cyberattacks. We frequently see these incidents featured in the headlines. Financial services firms are 300 times as likely as other companies to be targeted by a cyberattack—and dealing with those attacks and their aftermath carries a higher cost for banks and wealth managers than for any other sector1. Online banking, mobile applications, ATMs and contactless payments are bringing greater flexibility to customer experiences and are changing the methods of cybersecurity in the financial industry, through new regulations and approaches. As new technologies and services are introduced to your business, your attack surface expands as well. With this increasing complexity, the odds of a risk or exposure going undetected, releasing to market and being exploited become much higher.
How can businesses understand the effectiveness of their current cybersecurity measures against a real attack, while also addressing these new challenges?