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Feeding an insatiable beast: Financial institutions prioritize cybersecurity and customer experience on digital journey | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware

The pressure for financial institutions to bolster their technology is growing alongside the rise of fintechs and the evolution of customers who demand quick, customized service. As digital capabilities blossom and competition gets fiercer, banks and credit unions are devising fresh strategies to acquire new customers and new ways to serve existing ones. This report from American Banker – the banking-focused publication of Arizent – analyzes the state of digital banking in 2023.

Key findings

  • Banks and credit unions are racing to take advantage of the technologies that best serve their customers. More financial institutions than ever before are setting down their swords to partner with financial technology companies, often a faster and more cost-efficient way of adopting new technologies.
  • Ensuring that adequate cybersecurity measures are in place has become an even more important priority for all institutions. More frequent and sophisticated instances of hacking, phishing and identity theft have prompted banks and credit unions to beef up efforts across the security landscape. 
  • Banks now recognize the importance of focusing on customer experience as a way to drive business growth and improve customer satisfaction. For all financial institutions, gaining and keeping customers are the drivers of digital banking strategy. 


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