Digital banking has been growing and gaining momentum in recent years. More customers are using digital online services in every aspect of their lives, including banking. In 2021, mobile banking was the primary choice of account access for 43.5% of U.S. consumers, making it the most prevalent banking method. And in 2022, it’s estimated that over 200 million U.S. customers used digital banking.
This accelerated migration toward banking online has dramatically increased demands on network resources, and adds several major concerns regarding security, privacy, compliance and maintenance. Computer systems age faster than a bank vault, after all, and poorly maintained legacy systems are hard to protect.
This eBook takes a closer look at the growing trends in digital banking systems, the potential pitfalls of the same, and how to manage the cybersecurity risks involved with proactive planning and mitigation in financial institutions.