Data Protection August 13, 2024

Cost of a data breach 2024: Financial industry

3 min read - According to the IBM Cost of a Data Breach 2024 report, the average global breach cost has reached $4.88 million — a significant increase over last year’s $4.45 million and the biggest jump since the pandemic. For financial industry enterprises,…

Risk Management January 26, 2024

DORA and your quantum-safe cryptography migration

5 min read - Quantum computing is a new paradigm with the potential to tackle problems that classical computers cannot solve today. Unfortunately, this also introduces threats to the digital economy and particularly the financial sector. The Digital Operational Resilience Act (DORA) is a…

Banking & Finance August 30, 2023

Cost of a data breach 2023: Financial industry impacts

3 min read - According to the IBM Cost of a Data Breach Report 2023, the global average cost of a data breach in 2023 was $4.45 million, 15% more than in 2020. In response, 51% of organizations plan to increase cybersecurity spending this…

News April 17, 2023

UK banks stay confident as financial cyberattacks surge

4 min read - Financial service companies are undergoing a near-continuous digital transformation. As the competition heats up, banks must implement cutting-edge technologies to improve operations and enhance the customer experience. But this shift toward modernization comes with conditions, such as an increased focus…

Intelligence & Analytics March 30, 2023

2022 industry threat recap: Finance and insurance

5 min read - The finance and insurance sector proved a top target for cybersecurity threats in 2022. The IBM Security X-Force Threat Intelligence Index 2023 found this sector ranked as the second most attacked, with 18.9% of X-Force incident response cases. If, as…

Risk Management March 20, 2023

The role of finance departments in cybersecurity

3 min read - Consumers are becoming more aware of the data companies collect about them, and place high importance on data security and privacy. Though consumers aren’t aware of every data breach, they are justifiably concerned about what happens to the data companies…

Data Protection August 3, 2022

Cost of a data breach: Banking and finance

4 min read - The importance of cybersecurity has touched almost every industry. Beyond that, robust cybersecurity is table stakes for several sectors, particularly health care and the banking and finance industry. Not only is financial data at risk, but so is customer trust.…