Your Cyber Risk Readiness IQ
Business Strategy Implication
Seize the opportunity to embrace change AND defend against vulnerabilities
Reduce cyber risk as your digital operations evolve
The strategies put in place to support the growth and profitability of your institution create constant change and can have short and long-term ramifications for cyber risk. Similar to how you manage other risks, they are best addressed proactively before an issue arises.
That’s why you need a cyber risk management solution purposefully built for banking. One that integrates risk assessment, cybersecurity, governance and fraud detection products and services. Since change is constant, your cyber risk readiness should be, too.
Key Takeaways
Highlights from the PwC 2023 Global CEO Survey and what it means for you.
40% OF CEO RESPONDENTS (FINANCIAL SERVICES) SAY THAT WITHOUT TRANSFORMATION, THEIR ORGANIZATIONS WILL BE FINANCIALLY UNVIABLE IN A DECADE.
The inability to innovate could lead to failure to survive. Becoming proactive with cyber risk helps enable the digital innovation you need.
48% of those surveyed are increasing investments in cybersecurity or data privacy to counteract disruptions, including geopolitical conflict, in the economy.
Cyber resilience generates customer trust and loyalty. Without both, you risk greater regulatory scrutiny, a higher chance for fraud and increased likelihood your customers will go elsewhere.
76% of companies are automating processes and systems, while 69% are implementing solutions including cloud, AI and other advanced technologies.
To survive and thrive, you must invest in digital transformation. Planning for cyber risk needs to happen simultaneously and not after implementation, when it can be too late to prevent or detect a breach.
How does your FI measure up?
Take this quick self-evaluation to understand your cyber risk readiness and how you stack up against your financial industry peers.
The outcome will help you identify areas where you are strong or where you have vulnerabilities or gaps and provide tangible recommendations for improving your cyber risk maturity.
About the Cybersecurity Benchmarking Report
In late 2022, DefenseStorm surveyed information security and IT professionals across the US. The goal was to benchmark the progress that companies are making against five components of effective cyber risk management. Based on their survey responses, respondents were grouped into four maturity levels:
Further Resources for You
Insights
Cyber Risk: Are you Complacent or Proactive?
Community Bankers Association of Georgia's publication shares how DefenseStorm stays ahead of threats.
Case Studies
With broader and deeper access to data not previously available, Gesa teamed up with DefenseStorm to streamline investigations and stop threats before they became attacks.
Insights
DefenseStorm's 2023 Annual Threat Report
DefenseStorm experts share key insights about what makes your financial institution vulnerable in the new year. Read more in the DefenseStorm 2023 Annual Threat report.