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Cybersecurity is a complex challenge growing in importance that isn't just an IT problem – it's a broader risk management issue. Cyberrisk not only affects banks and government agencies; its implications expand through all industries. To counter new and emerging threats, you need to learn from previous threats across those industries hit hardest to proactively meet the challenges ahead. To broaden awareness and offer lessons learned, this paper looks at cybersecurity challenges and opportunities through the lens of financial services. From a survey of 250 banking executives, along with in-depth expert interviews, it reveals that harnessing big data assets in a proactive manner across the fraud and cybersecurity domains will help combat the ever-changing nature of attacks.
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