It may not be surprising if security professionals observe digital transformation with anxiety. As some may be competent, others will be expected to find themselves going forward, against the rush of transformation supporters excitedly pushing their digital plan.
Fintech Innovation told Chester Wisniewski, chief research scientist in the Office of the CTO at Sophos to observe quickly of where security lies among those in the financial services industry.
Those financial institutions are being compromised is not a topic worth debating anymore. The actual worry is that the number, type, and size of each settlement is growing. He refers to the growing number of business email hacks occurring at businesses, and how this is fallen into the financial services industry – as banks are the chief financers of most of these businesses – what other place else would a company keeps its monies if not the bank.
Check the full video as Wisniewski explains how the financial sector is dealing, or not, with compromised customers and its activities towards the business of banking.
“Digital transformation turns a financial institution’s risk management strategy upside down. Before digital, security was focused on identifying human error and psychology. Post-digital, it is about the technological ways systems can be manipulated because machines do what they are told,” said Wisniewski.
The 2019 Digital Transformation Market Trends Report records cloud migration, Internet of Things and AI as the top investment priority. Security is listed into IT cloud migration exercise – which makes sense, and indicative of the importance placed on security – somewhere between its important but not any more vital than cloud migration.