Shri Business (New York) November 2, 2019 :Cybersecurity has been of great importance in the financial sector. It becomes all the more necessary since the very foundation of banking lies in nurturing trust and credibility.
With the increase penetration of technology, banking customers are expecting more digitalization and modernization in their financial services. Therefore, many organizations such as IBM Corporation, Intel Security and others are manufacturing cybersecurity systems for banks as they are focused on their customer’s requirements.
In addition, rising digitization and connectivity has triggered a rise in incidents of information breaches, compelling banks to support their security systems. Therefore, the banking sector is adopting web and mobile applications in their systems in order to prevent cyber attack. Moreover, this new cyber security technology helps in increased digitization and connectivity and more security in financial institutions. Furthermore, organizations are rapidly installing cybersecurity solutions either on cloud or on-premises.
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