IBM – Capturing the Cybersecurity Dividend in Banking, Oct 2023

The document discusses how leveraging security platforms can deliver business value in the banking sector by reducing cybersecurity complexity and improving return on investment (ROI). Banks use an average of 114 different security solutions from 42 vendors, creating significant complexity. 47% of banking executives consider complexity a primary barrier to security operations. Integrated security platforms enable faster incident response and provide higher ROI. Platformed financial institutions detect incidents 53 days faster and resolve them 55 days faster than those not using platformization. 97% of banking executives who have adopted platformization view security as a source of value, compared to 43% who have not.