The Risks of Technology in Banking

Leveraging technology has helped the banking sector significantly, lowering the risk of physical robberies as money increasingly moves digitally as well as the cost savings associated with consumers interacting with digital platforms; however, this also makes the banks a major target for criminals who are after customer data; these risks increase with more devices being connected into the banks and the fact that costs of launching an attack are low; cyber attacks are now top of mind for banking executives; the Financial Times shares some of the recent breaches and how banks are weighing the benefits and costs of technology like cloud computing. Financial Times

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