2023 THALES
DATA THREAT REPORT

Securing Digital Markets

The security challenges faced by financial services organizations cannot be overstated. As the managers and custodians of financial assets and related sensitive data, these organizations are under constant attack from bad actors and receive increasing scrutiny from regulators, while trying to address customer and competitive demands for greater digital access.

The latest Financial Services Edition of the Thales Data Threat Report explores the perspectives of 140 financial services (FiServ) respondents in 18 countries regarding their understanding of the evolving security threat landscape, and challenges and strategies for protecting data, whether in the cloud, on-premises or across hybrid environments.

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Awareness of changing risks is high among financial organizations, but this hasn’t accelerated how organizations address them

 

Securing data in cloud is considered complex

The proportion of FiServ respondents who agree with this sentiment has increased to 55% from 44% last year, a potential byproduct of increasing multicloud operations.

Identity and encryption management complexity can be serious issues

69%of FiServ organizations surveyed have five or more key management systems.

 

 

Multicloud is today’s reality

74%

particularly in FiServ, with the average number of cloud providers now exceeding two (2.16), growing 12% in the last year. Three-quarters of FiServ respondents (74%) have two or more cloud providers.

 

The average number of SaaS apps used by FiServ

 137

FiServ respondents report greater use of SaaS applications, which increases the number of points where data must be secured. The average number of applications in use jumped 67% over three years, from 82 to 137.