CYBERSECURITY
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Cybersecurity is , in an unfortunate sense , the gift that continues to give . As the industry develops at an incredible pace – think new and innovative market entrants bringing unique digital banking experiences , a shift to mobile and other disparate devices that enable ‘ any time , any where ’ banking , and new initiatives such as Open Banking and PSD2 – so too does the volume and sophistication of the threat . To discuss that risk in more detail , FinTech magazine questioned Daniel Cohen , Director of Fraud & Risk Intelligence at RSA Security . Here ’ s what he told us .
How has the cyber threat changed as the financial services sector diversifies from one dominated by incumbents to one populated by a growing number of fintechs , startups and innovative technologies ?
Just as the financial sector has diversified , so too have the threats it faces . While digital innovation has opened a lot of opportunities for organisations , it also creates new digital risks that need to be managed . Take , for example , the number of digital touchpoints that consumers can engage with to access financial services , which have increased dramatically through initiatives such as Open Banking and PSD2 regulations .
DECEMBER 2019