The financial services industry is currently experiencing a sea change. Key drivers of this change are causing the industry to morph into an open marketplace and bringing along some unintended consequences. Despite their best efforts, financial institutions find themselves increasingly vulnerable to cyber attacks as criminals find ways to exploit inherent weaknesses in this new environment.

While financial institutions have taken significant steps to strengthen their cybersecurity programs, they continue to be thwarted by the speed of technological change, the overlay of a digital ecosystem, and by the sophistication and coordination of the threats.

In this paper, we examine the latest threats facing the industry, the steps you can take to help mitigate those threats and explore how our greatest hope of success in defeating those threats lies in collaboration and communication—effectively abolishing the silos that currently exist.