Cybersecurity threats continue to grow, and companies across sectors are anticipating increased defense spending to prevent or reduce the damage caused by these attacks in the future. According to a recent Deloitte survey of more than 1,000 industry executives, 57% of respondents expect their companies to increase cybersecurity spending in the next 1-2 years. Some … Read more
Outdated systems contribute to rising fraud threats Clients of banks and payment systems are increasingly becoming victims of fraud. In 2023, nearly 36% of all U.S. banking customers experienced some form of fraud, losing more than $10 billion, three times more than in 2020. Fraudsters exploit vulnerabilities in legacy systems using phishing, account takeover, and … Read more
Banks function in a digital economy where threats are constantly rising – there were twice as many unique cyber incidents in the third quarter of 2023 compared to the previous year. Building guardrails for banking customer data across a customer’s journey has gained paramount importance – from customer acquisition, as well as through customer engagement, … Read more