IT security one of the top priorities in the financial sector

Ten post dostępny jest także w języku: polski

According to a Citrix study, since the beginning of the pandemic, as many as 85% of financial institutions in Poland perceive an increase in IT security threats. In response, nearly half believe that security has become a top priority at their organization over the past several months.

Zero Trust Policy

Cyber threats in the financial sector are becoming more and more common in connection with the COVID-19 pandemic. According to a Citrix report conducted on IT heads working in banking and financial institutions in Poland, as many as 85% of them noticed an increase in cyber threats. However, in response to increasing threats, as many as 9 out of 10 respondents believe they are adequately prepared for the current situation. Another 24% say they feel “very comfortable” with their strategy and current regulations.

The confidence of people responsible for IT security in the financial sector may result from a new approach. As we read in the report, already a third of institutions have implemented the Zero Trust model, requiring that all users, both in the organization’s network and outside it, be authenticated, authorized and constantly verified in terms of configuration and security status. Another 58% of organizations plan to do so in the next 12 months, and 5% later.

Remote working also did not prove to be a major challenge, with 86% of respondents stating that they were satisfied with the solutions used. On the other hand, for more than two-thirds (36%) of organizations, remote working was not new and they had already used such a model before.

Automation as an opportunity to eliminate staff shortages

However, there are areas in which financial institutions see potential threats. This is especially true in the area of staff competence and problems with filling the right positions in the coming years. 61% of respondents believe that their IT security teams will need to undergo new training. But at the same time, only 19% of organizations admit that they conduct security training for all employees once a year, and 67% once every 2-3 years.

Nearly half (44%) also believe that in the long run they will be forced to hire external employees. However, some organizations see opportunity in the growth of automation. 53% believe automation will help close gaps in IT security.