THE CYBER GAME HAS CHANGED FOR FINTECH
Could 2025 be the year that reshapes cybersecurity in the fintech services industry for good? With increasingly sophisticated cyber threats and emerging technologies such as AI affecting every sector, many believe the financial services industry is on the cusp of a major transformation. If that is the case, the industry must adapt. According to Cybersecurity Ventures, global cybercrime costs are expected to rise by 15% annually over the next five years, reaching $10.5 trillion by 2025. This growing threat landscape is driving a fundamental shift in cybersecurity strategies. As Mikko Hypponen, a global security expert, speaker, and author, states:
“Financial institutions must recognise a simple fact. Traditional approaches are no longer sufficient. The game has changed. And 2025 could be the year the industry finally catches up.”
Let’s examine cybersecurity in finance and assess whether 2025 will be a year of significant change.
A PRIME TARGET FOR CYBERCRIME
The estimated cost of global cybercrime by 2027 is USD24 trillion – that’s not small potatoes! The finance industry has always been a prime target for cybercriminals, and with the evolving nature of cyber threats, concerns are mounting. Cybersecurity solutions provider Check Point Research predicts a surge in artificial intelligence (AI)-driven cyberattacks by 2025. While banks and financial institutions utilise AI for threat detection, cybercriminals have harnessed machine learning (ML) to outmanoeuvre traditional security measures. These attacks will become more sophisticated, personalised, and increasingly difficult to detect. One should not underestimate the capabilities of cybercriminals. Advanced tools such as AI and ML lack an ethical foundation and can be exploited by those who know how to wield them. This is precisely why financial institutions must adapt and implement robust measures to safeguard valuable data and assets.
THE IMPACT OF DORA
In a logical move, regulatory bodies are responding to these emerging threats with stringent new frameworks. One of the key developments set to shape 2025 is the introduction of new regulations aimed at mitigating systemic risk in the financial services industry. The Digital Operational Resilience Act (DORA) came into effect on 17 January 2025, with the goal of unifying and strengthening ICT risk mitigation requirements across financial entities. According to Gartner, financial institutions are expected to increase cybersecurity spending by $212 billion by 2025 in response to stricter regulatory measures. This regulatory push is further underscored by McKinsey’s analysis, which highlights the urgency for financial services to “de-risk” emerging technologies through stringent operational resilience measures. Overall, 2025 is set to be a year of more stringent regulation and a stronger push for significant penalties for breaches and non-compliance. This signals a shift from a reactive stance—where companies respond only after an incident occurs—to a more proactive approach, addressing threats before they escalate into full-blown crises.
ZTA – A NEW SECURITY PARADIGM
The consensus is that traditional perimeter-based security models are no longer sufficient to withstand the growing threat of advanced, technology-driven cyberattacks. Deloitte reports that by 2025, many organisations will be striving to adopt Zero Trust Architecture (ZTA). The premise of Zero Trust is straightforward: trust no one, verify everyone. This approach requires strict identity verification for every individual and device accessing resources on a private network. After all, according to an IBM report, 95% of all cybersecurity breaches involve human error. ZTA provides enhanced security for sensitive data and transactions within the financial sector. Many cybersecurity experts consider it essential for mitigating insider threats and securing remote work environments. In an industry where a single misstep can result in losses amounting to millions – not to mention severe reputational damage – ZTA is becoming a critical tool for closing security gaps. By 2025, many companies and organisations will need to decide whether to adopt ZTA. The more this approach is tested in real-world scenarios, the sooner its significance will be widely recognised.
THE NEXT CYBER FRONTIER
Quantum computing promises immense computational power, with processing speeds up to 100 million times greater than the fastest supercomputer to date. In 2015, Google and NASA reported that their D-Wave quantum computer had solved an optimisation problem in mere seconds—a task they claimed would have taken a classical computer 10,000 years to complete. While much of the focus is on the potential speed of quantum computers, Deloitte warns that these machines could break RSA and ECC encryption within minutes. As a countermeasure, experts in the financial industry must explore quantum-resistant cryptography. McKinsey highlights that quantum attacks could become feasible by the late 2020s and particularly pressing closer to 2030, which is not far off. This underscores the urgent need for quantum-resistant encryption methods. Sarvagya Upadhyay, Senior Research Scientist Manager at Fujitsu Research, says:
“Quantum computers have already initiated a paradigm shift in how researchers think about data security.”
With the quantum computing market expanding rapidly, a similar trend is expected for quantum-resistant cryptography.
IS FINTECH PREPARED?
Financial services have always been a high-stakes industry. As regulators tighten their grip and technology advances, 2025 could be the turning point where proactive, strategic cybersecurity becomes the norm rather than the exception. According to McKinsey, the key to success lies in de-risking emerging technologies by adopting a balanced approach that integrates robust cybersecurity measures at every stage of implementation. The financial sector cannot afford complacency. The volume of threats is increasing. Addressing these risks with a strategic, well-integrated approach is essential. Whether it involves adopting Zero Trust Architecture, complying with the Digital Operational Resilience Act, leveraging AI, or preparing for quantum threats, companies must ask themselves: Are we ready for what lies ahead?
PROTECT IT BETTER
2025 will mark the beginning of a turning point for cybersecurity in finance. The industry stands on the brink of significant change in the years ahead. Seizing this opportunity requires more than just new tools—it demands the right partners to help navigate an increasingly complex landscape. Whether your organisation is already on the path to implementing these changes or just beginning, the journey to robust cybersecurity starts with selecting the right expertise to provide guidance. Staying one step ahead will be essential to ensuring businesses remain resilient and safeguarded against evolving threats. As London’s number one cybersecurity and IT support for SMEs, Zhero is at the top of the game for Zero Trust and cybersecurity monitoring, EDR and cyber resilience. Our Protect It Better package has been carefully crafted and developed to proactively nurture and build a sustainable cybersecurity environment, giving your business a competitive advantage. We’ve incorporated the most advanced technology-as-a-service innovations and created Protect IT better. Protect IT Better follows a holistic approach that ensures you are always protected against modern-day cyberattacks. Reach out to Zhero today and get the best cyber protection that money can buy.
