Security is, along with his sister, prudence, the key property of the bank. Without it, it has no reason to be; And the same statement applies to digital banking. Without digital security, known as cybersecurity, there is no reliable online banking and, therefore, its future is put in question.
One fact reflects the importance of cybersecurity in the development of financial institutions: 90% of clients would switch to another financial company if their bank was the victim of a cyber attack. And that, in a scenario in which these types of assaults are a first-order risk for banks, and with the fact that 52% of those who have suffered an online robbery have recovered nothing or almost nothing from the stolen.
The proliferation of thefts, using methods ranging from the most elementary phishing – which plays with user ingenuity – to the most sophisticated formulas of hacking, is such that European supervisors (ECB and EBA) prioritize the creation of anti-terrorist barriers. Entities are already there, but supervisors are going to require internal audits to assess the risk derived from technology.
The banks will defend themselves against a threat that not only concerns individuals and companies that place their trust in it, but the network in general, with advanced and very efficient procedures and methodologies. That is, evolving the entire financial system.