New Survey Says Banks Spend Thousands Per Employee on Cybersecurity

A new survey from Deloitte and the Financial Services Information Sharing and Analysis Center shows that financial firms spend an average of $3,000 per employee to protect themselves from cyber attacks; the data shows that banks have increased these budgets more than 3 times in the past few years; “Money alone is not the answer,” said Julie Bernard, a Principal in Deloitte’s cyber-risk division, to American Banker. “How a security program is planned, executed and governed is as important, if not more.”; the survey took a look at about 100 financial firms. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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