Financial institutions brace for cybersecurity threats in 2021

When CSI asked bankers to identify the one issue that would most affect the financial industry in 2021, cybersecurity was the clear winner. With 34% of the vote, it far outranked the other two leading issues—meeting customer expectations (20%) and regulatory change (17%).

Interestingly, bankers expressed this viewpoint before news of the SolarWinds hack splashed across our news feeds in mid-December. As the scale and long-term implications of this unprecedented cyberattack continue to emerge, it’s worth examining what bankers had to say about cybersecurity in the CSI 2021 Banking Priorities Survey and taking some extra precautions to protect against this persistent threat.

Where Bankers See the Greatest Cybersecurity Threat in 2021

The survey presented bankers with a list of specific cybersecurity threats in 2021 and asked which one posed the greatest threat to their institution. The responses clearly reflect a landscape altered by the coronavirus pandemic, which drove society to remote work environments and digital services, making everyone increasingly vulnerable to cyber manipulation and exploitation.


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