Intelligent Issue 05 | Page 12


Cyber-confidence high in financial sector yet security threats escalate

Over nine in 10 ( 94 %) financial services companies are confident in their cybersecurity posture . However , high confidence is being tempered by an increase in successful cyberattacks against the sector , suggesting that further cybersecurity improvements must be made .

Research from Bridewell has revealed that finance organisations are outperforming their peers across the UK ’ s Critical National Infrastructure ( CNI ) in cybersecurity confidence and maturity . Organisations are taking on average just 13 days to discover a cyberattack , detecting and mitigating security threats much faster than any other CNI sector . In contrast , the transport and aviation industry takes almost two months ( 51 days ) on average to do the same . The finance sector ’ s high-confidence , highperformance security posture reflects the relative maturity of organisations ’ Digital Transformation programmes .
But with cyberattacks rapidly expanding in volume and sophistication , 69 % of finance organisations have experienced an increase in threats during the last 12 months . Furthermore , the industry has seen the second-largest rise amongst all UK CNI ( 81 %) in cyberattacks following the outbreak of the Russia- Ukraine war , suggesting the sector is far from immune to geopolitical cyber-warfare .

eFinance signs partnership MoU with F5 to protect and optimise Egypt ’ s Digital Transformation priorities

eFinance has signed a Memorandum of Understanding ( MoU ) with F5 , a multi-cloud application services and security specialist , to help protect and optimise Egypt ’ s Digital Transformation priorities .

eFinance , a partner of choice for Egypt ’ s growing digital economy and financial transformation , as well as in-country public cloud provider , is now set to offer F5 ’ s extensive solutions portfolio to organisations across the country .
Initially , the partnership will focus on cloud and cybersecuritybased technologies .
“ We are delighted to partner with F5 , which is already supporting many of eFinance ’ s customers in Egypt ,” said Atef Mohamed , IT and Cloud Director , eFinance . “ Our mission is to enable organisations across the country to lead cutting-edge , transformative initiatives that are aligned with vital social development goals . F5 is an ideal partner for us in this respect .”
F5 offers a unique portfolio of automation , security , performance and insight capabilities . It empowers customers to create , secure and operate the applications – whether monolithic or modern – that help reduce operational cost and complexity , protect users ’ experience and create business value .
“ eFinance is integral to the Egyptian government ’ s Digital Transformation strategy , so it is a huge honour to finalise this MoU ,” said Bassem Saleh , Sales Lead for Egypt at F5 . �
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