Failures and hostile cyber actions have profound impacts on enterprise performance—even enterprise viability. Yet, combined properly, the same technologies that are driving the digital enterprise can enable resilience at a level not possible before. Accenture Finance & Risk and Accenture Strategy research on the intersection of business and technology has provided some insight into what it takes for Banking executives to be prepared.
67% of Banking executives surveyed by Accenture said that their organizations experience significant attacks that test the resilience of their IT systems on a daily or weekly basis.
65% of risk management Banking executives surveyed by Accenture expect cyber risk to become more severe.
Only 10% of Banking executives surveyed by Accenture stated that they proactively run inward-directed attacks and intentional failures to test their systems on a continuous basis.
55% of surveyed risk management Banking executives have recruited cyber risk experts in the past two years and 39% plan to do so in the next two years.
However, just 38% of Banking executives surveyed by Accenture “strongly agree” that balancing spend-to-protect and spend-to-enable is mature and continuously managed in their enterprise.
Another 47% merely “agree,” signaling that there is still room to improve in this critical area.
Cause for alarm: Of all the Banks that Accenture surveyed, only 40% have a continuity plan that is refreshed as needed. Only 50% map and prioritize security, operational, and failure scenarios.
And only 40% have produced threat models to existing and planned business operations.
C-suite executives are seeing the advantage of robust digital capabilities and technologies outside the enterprise.
Multi-speed business and multi-speed IT requires real-time orchestration of myriad internal and external services.
Resilience cannot be added after-the-fact or on a sporadic, discretionary basis. It must be part of the fundamental operating model—ingrained at the outset into objectives, strategies, processes, technologies—and even culture.
Accenture Strategy surveyed more than 900 executives around the world on a variety of topics related to business resilience, multispeed business and IT, technology led innovation, and the digital agenda, 2015.
Industrial Internet of Things: Unleashing the Potential of Connected Products and Services; The World Economic Forum in collaboration with Accenture, 2015.
Accenture 2015 Global Risk Management Study - Banking respondents.
We bring together consulting, technology and outsourcing capabilities and assets—along with deep banking and insurance industry knowledge.
Accenture Finance & Risk Services Discussion Group
Banks And Insurance Companies Aware Of Cyber Risks: Opportunities Remain To Become More Resilient
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