The rise in digital banking reflects a trend across all industries:
consolidating locations. From 2017 to 2021, 9% of all bank branch
locations in the U.S. closed down.
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.
Introduction
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.
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