According to our most recent State of Software Security Report, the financial services industry has fewer security flaws in its applications than last year. Great news, right? That said, the reduction in security flaws isn’t as significant as we would hope to see. The financial services industry has traditionally been recognized for having the least amount of security flaws.

As technology explodes, so do the threats. Point solutions emerge as security players innovate in order to keep up. This creates the need for consolidation, as the fragmented solutions become too much to manage. We’re entering a consolidation phase now, the process of distilling, refining, and letting the cream rise to the top. We sat down with cybersecurity veteran and vigilante, Chris Wysopal, to get his perspective on emerging trends in cloud-native security.

The global financial services industry is undergoing a seismic shift and not enough people are truly aware of what this means. By November of this year, banks and other financial institutions must have in place a new process for payment systems that uses the ISO 20022 standard instead of SWIFT. This must be active by November and by 2025, all financial institutions will have to be compliant.