How Evolving Cyber Threats and AI are Reshaping Bank Security

Article

In the last decade, TPRM has evolved in response to increased digital threats and adversary sophistication. The growing reliance on cloud services, fintech partnerships, and interconnected systems has expanded vulnerabilities, making proactive risk management critical. This article explores the shift from traditional cybersecurity measures to advanced, intelligence-driven strategies, highlighting the role of AI, vendor selection, and proactive threat detection in mitigating third-party risk.

Oct 01, 2024

Tom Kartanowicz, CISO, Europe and Americas, Standard Chatered Bank

How Evolving Cyber Threats and AI are Reshaping Bank Security

The views and opinions expressed in this content are those of the thought leader as an individual and are not attributed to CeFPro or any other organization

Adversaries are becoming more advanced, using complex methods and tools to target single vendors, which can expose multiple organizations at once.
Financial institutions are now focusing on proactive monitoring, including dark web intelligence sweeps to detect threats before they impact third-party vendors.
AI tools are streamlining incident detection and response, allowing analysts to focus on higher-order tasks while also raising concerns over adversaries' use of AI.
Institutions are implementing stricter vendor oversight, requiring proof of adequate risk management and response protocols after breaches, ensuring standards are met.