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Banks and other financial institutions (FIs) use online banking to enrich their portfolio of services and operate more efficiently.
However, while digital banking has propelled revenue and profitability, it has also raised cybersecurity concerns.
Research shows that the finance industry is the second-most targeted industry for cyberattacks.
This alarming trend indicates that the finance industry needs to invest in more sophisticated threat detection solutions to prevent costly breaches because they can cost $3.7 million to resolve.
FinTechs are innovating the digital banking landscape and they can enhance the workflow and customer experience for digital banking.Learn more: https://diro.io/fintechs-and-the-financial-industry-revolution/