Financial industry has always been a place where cyber-attacks and data breaches happen, due to the massive amounts of customer data it holds. How can financial institutions deal with the ongoing cybersecurity issue to build digital trust? Let’s get started!

Based on Norton’s latest report, it is estimated that more than 800,000 people are under the threat of cyber-attacks per year. And according to a research done by Security Intelligence, financial industries have suffered roughly $5.72 million in losses directly connected to data breaches in 2021. That means financial services companies are currently facing an increasing cyber-attacks and are more vulnerable than ever before.

What is Cybersecurity?

In short, cybersecurity is the practice of risk conversation on organisations measuring and mitigating risks. Cybersecurity is the core of the digital journey, and is particularly essential for financial institutions.

How do financial institutions improve their cybersecurity?

Here are three main measures to effectively improve companies’ cybersecurity:

  • Implement Zero Trust

The Zero Trust methodology can ensure only those who are authorised can obtain data in the system. This strategy will reduce the number of hackers accessing the companies’ data.

  • Right and agile strategies in place

For example, it could be delivering timely threat identification and response through situational awareness and threat intelligence.

  • Scenario planning and resilience

Establish a strategic plan that includes measures that need to be implemented when cyber-attacks happen. For example, it could be the responsibility or communications policies of different departments.

Investing in infrastructure of cybersecurity technology and implementing agile strategies are crucial, but are they enough? We need education on cybersecurity as well!

Education: the key to building the digital trust

With the cyber-attack issues becoming more serious, providing employees with cybersecurity training is the fundamental strategy to enhance their cybersecurity knowledge and awareness.

Get ready to learn all the skills in cybersecurity, with Danny Lopez, the CEO of Glasswell. Explore the course now!

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Learn the skills of Fintech

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Frequently Asked Questions

The Centre for Finance, Technology & Entrepreneurship (CFTE) is a global education platform that aims to equip financial professionals and organisations with the necessary skills to remain competitive in a rapidly changing industry. Our leading training programmes, curated by global industry experts, help talent build skills to join the digital revolution in finance. CFTE’s courses are globally recognised with accreditations from ACT, IBF, CPD, SkillsFuture and ABS.

At CFTE, our mission resonates with every learner’s goals to rapidly advance in their career, to thrive in their next project or even to lead the disruption in finance with their own venture. To help you do this, CFTE gives you the tools you need to master the right skills in digital finance. We bring exclusive insights from leaders that are steering the developments in the financial sphere from global CEOs to disruptive entrepreneurs. With CFTE you don’t just learn what’s in the books, you live the experience by grasping real-world applications.

If you are looking for rich insights into how the Financial Technology arena is transforming from within, we can help you get the latest knowledge that will stir things up in your career. CFTE offers leading online programmes in digital finance, covering an expanse of topics like – Payments, AI, Open Banking, Platforms, Fintech, Intrapreneurship and more, that will help you conquer the financial technology landscape. With this expertise at your disposal, you will be on track to turbocharge your career.

You will be learning from a curated line-up of industry leaders, experts, and entrepreneurs hailing from Fortune 500 companies and Tech Unicorns, among others. They will each be presenting their knowledge and experience in the field of digital finance. No matter if you are embarking on a new journey or fortifying your role, these lecturers and guest experts will guide you through the perspective of established institutions like – Starling Bank, Wells Fargo, tech giants like – Google, IBM, successful startups such as – Kabbage or Plaid, among many more!