With the acceleration of digital transformation in the financial sector, it is easier than ever before to open accounts or apply for loans and mortgages. Whilst these digital services can significantly enhance the customer banking experience, it brings new security challenges for the industry to address.
While every industry is subject to cyber-attacks, the banking and financial services sector remains a lucrative target for cyber criminals who want to get their hands on sensitive, personal data. The average cost of a data breach in the financial services sector is among the highest of any industry, at $5.85 million (Varonis, 2021).
Drumz plc (LON:DRUM) is an investing company whose policy is to invest principally but not exclusively in the technology sector within Europe. On 4 September 2020, Drumz made an investment in Acuity Risk Management Ltd, which operates an award winning software business specialising in risk management.