Cyber security the biggest priority for finance firms

Research commissioned by digital workplace provider Invotra has found that 85 per cent of senior managers in the financial services industry consider data and security systems to be their top priority after sophisticated cyber-attacks were revealed to be their biggest fear for 2018.

The survey of 504 senior managers found that despite cyber-attacks being a top concern in the financial sector, confidence is at a high amongst financial services professionals, with 94 per cent believing that they are well-equipped to defend against attacks.

Priority

The study also found that data and security systems are a top priority for senior managers in the public sector, with this being cited by 79 per cent of respondents, whilst 88 per cent believe that they have a strong line of defence when it comes to cyber-attacks.

Digital transformation was also a main focus of the study, with respondents being asked how well they believe the public and private sector are responding to digitisation.

Financial services professionals were found to be feeling particularly confident about digital transformation, with just 19 per cent believing that the sector is behind others, whilst just 8 per cent believe that digitisation is an aspiration and not a goal that is achievable.

Pressure

Commenting on the survey, Invotra CEO Fintan Galvin said: “It’s clear from our study that finance technology professionals understand the need to drive change. But, they are charged with providing an accessible digital workplace with meaningful results in terms of improving people’s work lives, whilst facing sophisticated security threats. And, there is, of course, pressure to do more with less.”