Financial services firms had to make dramatic changes to their cybersecurity programmes to cope with the rapid shift to remote working due to the Covid-19 pandemic, a survey shows.
The Financial Services Information Sharing and Analysis Center (FS-ISAC) polled 871 cybersecurity professionals on which trends driven by the pandemic had the most impact on their programmes.
Remote working was cited by three quarters of respondents, while 11% said third party risk concerns led to dramatic change. Digital banking tools were ready to securely handle a huge increase in volume as only three per cent of respondents saw these tools driving significant programme changes.
As for the future, 46% reported their financial institution is likely to invest more in cybersecurity post-pandemic.
Steve Silberstein, CEO, FS-ISAC, says: "As the effects of this pandemic continue to unfold, CISOs and cybersecurity teams are constantly adapting their cybersecurity programs to meet a new reality that is everything but normal."