The third annual CyberTech100 has been revealed, detailing the must-know names in the industry.
This new list, which was launched by specialist research firm FinTech Global, highlights 100 of the world’s most innovative solution providers helping financial services firms combat cyberattacks, protect customer information and mitigate digital risks.
A panel of analysts and industry experts voted from a list of over 1,000 companies. Winners were picked for their innovative use of technology to solve a significant industry problem, generate cost savings or efficiency improvements across the security value chain.
CyberTech within the financial services has seen a huge shift in popularity, particularly as more businesses accelerate their digitalisation strategies. With an average cost of $4.24m per data breach, according to a report from IBM, companies are eagerly looking to increase their security budgets.
FinTech Global director Richard Sachar said “Financial institutions are 300 times more likely to be the target of a cyber-attack compared to other companies. As such security executives in financial services must stay on top of the latest innovation and threats in the market to proactively prevent data breaches and avoid reputational damage.
“The CyberTech100 list helps them do just that by identifying the top new technologies which can be part of an integrated cybersecurity risk management strategy.”