The financial services sector has benefited from multiple waves of automation, enabling it to reduce costs by eliminating certain human-to-human interactions. A new wave of automation is being driven by software bots performing automated, repetitive tasks online. Bots are not just about streamlining financial dealings with customers, but also how financial organizations interact with each other.
A more serious worry is that online fraudsters have also started making use of bots for malicious attacks on financial institutions. In 2017, robbing a bank is much more likely to be perpetrated by a cybercriminal with an army of bots than a mobster with a sawn-off shotgun. Online activists have used bots extensively to perpetrate DDoS attacks against online financial services, impacting availability. Overall, it is estimated that 46% of all online interactions are now driven by bots and that approaching half of this is down to bad-bots.
Financial organizations need to understand the effects of bot activity within their network. Find out how to protect against automated processes in the new eBook The Ultimate Guide to How Bad Bots Affect Financial Services.
What you will learn:
- About a new wave of automation in financial services
- How fraudsters use bots to penetrate the industry
- The motives behind the various attacks on the financial industry
- How to stop bots from hitting your financial services