IT disaster recovery, cloud computing and information security news

Sophisticated cyber threats are biggest technology fear for financial and public sector in 2018

The financial services industry and public sector are aligned in their concerns about data and system security, with both citing a fear of harmful cyber threats emerging in 2018, according to a new study from digital workplace provider Invotra.

The research, conducted among 504 senior IT managers working across public sector and financial organizations, found that 79 percent of those in the public sector, and 85 percent of respondents in the financial services sector, consider data and systems security to be their biggest priority. Both groups also said that the most notable impact of high profile cyber attacks hitting the headlines was greater scrutiny on existing systems. When asked how well equipped their organization is to defend itself against cyber attacks, the financial sector showed greater confidence, with 94 percent saying they had a strong line of defence, compared to 88 percent in the public sector.

Fintan Galvin, chief executive officer at Invotra said, "We commissioned this research to understand digital challenges facing the financial and public sectors. Both sectors are under pressure to modernise systems, make them accessible, and to keep pace with emerging technologies; all the while tackling sophisticated security threats. These are real hurdles for IT professionals today so it's no wonder they have concerns for the year ahead.”

Exploring respondents’ feelings about their organization’s investment in emerging technologies, including blockchain, artificial intelligence, predictive analytics and biometrics, 46 percent of public sector IT professionals believe about the right amount has been invested but over a third (37 percent) would like to see greater investment. In the financial sector, over half (54 percent) believe current investment levels are appropriate, but a fifth believe their organization is spending too much on emerging technologies. A far smaller proportion (23 percent) thinks too little is being spent.

Invotra’s study was commissioned between 21st-29th November 2017. 504 senior IT decision makers in the public and finance sectors were interviewed by Opinium.

www.invotra.com


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