Cybersecurity in Banking - Thematic Research

This report explores the impact of cybersecurity in the banking space. It includes an overview of the cybersecurity value chain, provides case studies of cybersecurity solutions used in banking, examines market size and growth forecasts, and discusses the key players in the space.

Cybersecurity is the body of technologies, processes, and practices designed to protect networks, computers, programs, and electronic data from attack. Cybersecurity in banking has become more important than ever as the rapid evolution of digital banking has resulted in customers finding it more convenient to manage their finances through online channels, exposing banks and financial institutions to increased levels of cyber threats. To fend off cybercriminals, banking providers are looking to utilize newer and more advanced security infrastructure and services.

Scope

• Banking is a highly targeted sector for cyberattacks. The reasons the sector is prone to growing cyberattacks include increasing use of digital channels to compete with fintech companies as well as the growth in digital currencies.
• According to GlobalData estimates, the global cybersecurity industry in the retail banking sector will grow from $7.9 billion in 2020 to $11.6 billion in 2025 at a compound annual growth rate (CAGR) of 8.1%.
• Banks are unleashing the power of digital technologies to predict and prevent cyberattacks before they happen. Cybersecurity technologies will help banks shore up their reputation as trusted and secure providers as they digitize amid increased openness.

Reasons to Buy

• Understand cyber risk and its current and future impact on the industry.
• Understand how key challenges the banking sector is facing have accelerated the need for greater cybersecurity.
• Identify the leading adopters and specialist vendors for cybersecurity.