About 80 per cent of financial institutions struggle to contain cyber threats automatically, as network disruptions increasingly affect customer transactions, digital banking and internal operations, a global survey has found.
The report by Nile, a provider of Secure Network-as-a-Service, found that only 20.5 per cent of organisations automatically detect and quarantine threats in real time. The remaining 79.5 per cent rely on manual intervention and struggle with limited visibility or delayed detection.
The survey gathered responses from 322 IT, security and risk professionals across banking, insurance, payments, capital markets and fintech.
Network reliability emerged as another pressure point, with 57.1 per cent of respondents reporting disruptions monthly or more frequently. Such incidents affected customer transactions, trading activity, digital banking access and internal operations.
Cybersecurity and regulatory risk were the leading ongoing network challenges, accounting for 24.2 per cent of responses, followed by rising operational costs at 22.4 per cent.
Yet cost was the leading consideration for network redesign. Lowering total cost of ownership accounted for 25.2 per cent of responses, making it the top priority ahead of security.
The report also found that only 21 per cent fully segment third-party access with enforced policy controls, while 59.3 per cent reported a moderate to significant manual burden to maintain audit readiness.
“Financial services run on trust, and trust increasingly depends on the network, especially when any disruption or security failure can quickly impact customers and raise regulatory concerns,” Chief Marketing Officer of Nile, Shashi Kiran, stated in the report.
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