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If you will be covering the news, please find below a comment from this Rob Norris, Director Enterprise & Cyber Security, Fujitsu.

The news that 79% of banking chief executives are concerned or extremely concerned about cyber threats affecting their growth prospects comes as no surprise. Just yesterday we saw yet another high profile act of cyber theft created by the Carnanak hack, highlighting the prominence and sophistication of cyber threats.

Banking chief executives are right to be concerned about these threats as awareness is the first stage of effectively dealing with these pending fears. This echoes our own research of 176 UK and Ireland IT decision makers which revealed that only a third of financial services organisations are certain they could maintain security in event of IT failure. However, banks should not shy away from digital services due to these concerns. According to Fujitsu’s recent ‘Digital Inside Out’ study into digital enablement in the UK, the financial services industry is the standout sector when it comes to offering digital services. The industry tops the table in terms of importance to (62%) and satisfaction with (64%) consumers. When examining individual digital services used in our everyday lives, online banking is the most used (67%) and valued (63%) across the nation.

In order to both meet customers’ demands whilst remaining secure, banking organisations must first be aware of the risks which will most affect their business and then prepare themselves for a potential breach. Once aware of the overarching risks in the landscape they next need to focus on the threat that is relevant to them. It is key that organisations can respond to threats in a well-defined and practiced manner - becoming proactive in their approach to security. Being reactive and waiting for incidents and events to happen will keep businesses on the back foot.”