Bridewell

44% of financial institutions cited complying with cyber security regulations as the single most pressing challenge.

33% of financial organisations increasingly use AI for automated incident response.

89% of financial organisations expressed concern about AI-powered phishing attacks.

70% of financial organisations expressed worry over state-linked cyber actors such as Russia.

22% of financial organisations increasingly use AI for threat intelligence.

Fear of China-backed threats has fallen sharply from 80% to 57% among financial organisations.

It takes financial organisations nearly 16 hours to respond to supply chain attacks on average.

35% of financial organisations view cloud security as a high challenge.

63% of financial services firms will increase cyber security investment over the next year.

30% of financial organisations view incident detection capabilities as a high challenge.

39% of financial organisations view remote and hybrid work practices as key security concerns.

69% of financial organisation expressed worry over state-linked cyber actors such as Iran.

More than a fifth of financial organisations will be boosting budgets by up to 10%

81% of financial organisations express confidence in their ability to secure IT infrastructure.

31% of financial organisations are turning to regional security partnerships to address the skills gap.

39% of financial organisations are turning to reskilling to address the skills gap.

39% of financial institutions reported heightened concerns around data privacy.

The average response time to ransomware attacks is 6.71 hours among financial institutions. Last year's average response time to ransomware attacks was 6.62 hours.

More than half (52%) of financial organisations plan to outsource to address the skills gap.

37% of financial institutions reported heightened concerns around the security of critical assets.