Cyber Security in the BFSI Industry

A deep dive into the evolving state of cyber security in Australia’s BFSI industry, trends in types of cyber-attacks, AI-driven threats that have surfaced in recent years, and how Nagarro can help you build a powerful cyber security strategy.

Almost 35 years ago, a Cornell University student in the US created a harmless worm with no intention of causing any monetary theft or data loss. But it crashed thousands of computers, rendering them useless. That was the first time a cyber-attack was ever reported in the world. And the world was never the same again!

Cyber-attacks since then have come a long way in terms of the nature and the range of attacks, along with the wide ambit of loss they cause. Even after these 35 years, we are still not prepared to counter the cyber-attack coming our way. Cyber-attacks are only becoming more sophisticated with rapid AI advancements making cyber incident detection harder.

In this white paper, we will explore cyber-attacks from all possible angles. We will dive into:

1. The extent of damage caused by them in terms of revenue, other collateral damage

2. The current state of cyber security in place and

3. The actions being taken to be better prepared as we move towards an all-digital world.

4. How Nagarro can help meet the cyber security needs of a banking institution.