A survey of security executives at 275 global banks revealed that 78% were confident in their overall cyber security strategy. More than half (51%) said they would be able to identify the cause of a breach, 51% said they could measure the impact and 50% said they could manage the financial risk caused by a cyber security event. Robert Capps, VP of Business Development at NuData Security commented below.
Robert Capps, VP of Business Development at NuData Security:
“Banks are under a barrage of attacks every day and although this sector has made great strides, their ability to detect a breach and take immediate action is limited as reflected in this survey. Online fraud is one of the biggest challenges for the financial community and that can be significantly mitigated with new technologies such as passive biometrics and behavioural analytics. While banks feel that there is a shortage of talent available, these new technologies can help them close that gap. These technologies also ensure a frictionless experience for customers while weeding out fraudulent transactions.”