A key issue is the fast deployment of in banking services. -driven technology improves productivity and customer knowledge, but 83 % of bankers report difficulties in aligning safety measures with the frequency of implementation.  ,
This problem is well-founded: virtual threats are growing in size and style, with AI-powered attacks becoming a major concern.
The increase of photoshopped technology illustrates this threat. Over the past year, algorithmic attacks targeting bank employees and customers have surged by 243 %, making them the most common digital risk lenders now face.  ,
According to Accenture, 85 % of these problems are attributed to fraudsters, underscoring the increasing risks posed by AI-driven fraud.
Compliance vs corporate security
One of the biggest obstacles to better security lies in approach. Some banking leaders see cybersecurity largely as a conformity requirement rather than a basic business strategy.  ,
And, while bankers are strongly regulated, their third-party providers usually operate with far less supervision. This creates a major security distance, as banks remain responsible for managing risks that extend beyond their immediate command.
This connect affects consumer respect, Accenture reports. Only 28 % of banking customers believe their bank effectively communicates how it protects their data.  ,
Additionally, 74 % of banking executives say they struggle to maintain digital trust as fraud risks increase, and only 40 % of customers fully trust their bank to be transparent about cybersecurity measures.