Today's world is filled with innovative and flexible digital services that suit the ever-changing needs of consumers. Such services, that are often personalized and adapted to new habits, require an extensive collection and processing of personal data, which then enable the creation of intuitive and easy-to-use standards. The digital demand is growing in all sectors. And therefore, the amount and variety of data being processed on a daily basis has never been higher. Consumers are clearly benefiting from innovative, out-of-the-box and unique solutions. But as service providers, we have a tremendous responsibility in making sure that these solutions remain secure and transparent,comments Vincent Bouckaert.
Furthermore, cyberattacks are increasingly frequent and can have devastating consequences when successful, whether they target individuals at home or large corporations or public bodies. In many cases, such attacks cause a loss of trust from customers or citizens, sometimes leading to bankruptcy for highly publicized cases against companies. The financial services industry is of course not immune from cyber-attacks, and its actors must follow basic cyber hygiene principles.
How recent and powerful cyberattacks impacted the financial services industry
Over the years, many financial institutions were hit by cyber criminals with varying goals, ranging from thefts to extortion and even to political/ideological leverage. There are many examples showing that the number of cyberattacks is growing:- A national bank was attacked and many of its services were impacted, including the banks ATMs, internal network, mobile apps, etc.
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