Financial Services Firms Improve Their Cyber Resilience and Prevent More Than 80 Percent of Cyber Breaches, Accenture Study Finds
Summary
The new technologies that banks and insurers are embracing – including cloud, microservices, application programing interfaces, edge computing and blockchain – will create new security risks, especially as cyberattacks evolve in sophistication.”“Cyber risks are moving beyond traditional enterprise boundaries as financial services becomes rapidly digitized and as open banking and third-party data sharing change how business gets done,” Thompson said.“AI, machine learning and robotic process automation can provide a consistent way to monitor for and combat these threats, but only if firms are willing to invest in them.”For the 2018 State of Cyber Resilience study, Accenture surveyed 4,600 enterprise security practitioners, including 821 from financial services (banking, insurance and capital markets), representing companies with annual revenues of $1 billion or more in 15 countries.Leveraging its global network of cybersecurity labs, deep industry understanding across client value chains and services that span the security lifecycle, Accenture protects organizations’ valuable assets, end-to-end.