Upcoming GDPR Regulations to Spur Action, Greater Transparency with Consumers
Paris, 2 February, 2017 – Banks and insurers enjoy a significantly higher level of trust from consumers in the cybersecurity of their systems (83%) than any other sector (with e-commerce firms at 28% and both telcos and retailers at 13%). However, the financial services industry doesn’t share the same sentiment. Just one in five banking executives (21%) are highly confident in their ability to detect a breach, let alone defend against it. This is the finding of a report published today by Capgemini’s Digital Transformation Institute, titled ‘The Currency of Trust: Why Banks and Insurers Must Make Customer Data Safer and More Secure’.
Capgemini’s Digital Transformation Institute conducted a survey with 7,600 consumers in France, Germany, India, the Netherlands, Spain, Sweden, United Kingdom and United States, who shared their views on data privacy and security within the financial services industry. In addition, Capgemini’s Institute talked to 183 senior data privacy and security professionals in France, Germany, India, Spain, United Kingdom and United States representing bank and insurance firms, each with global revenues greater than $500 million, to understand their approach to cybersecurity and data use. 40% of organizations surveyed have revenues above 10 billion USD. A copy of the report can be downloaded here.
With more than 180,000 people in over 40 countries, Capgemini is a global leader in consulting, technology and outsourcing services. The Group reported 2015 global revenues of EUR 11.9 billion. Together with its clients, Capgemini creates and delivers business, technology and digital solutions that fit their needs, enabling them to achieve innovation and competitiveness. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business ExperienceTM, and draws on Rightshore®, its worldwide delivery model. Learn more about us at www.capgemini.com.
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About the Digital Transformation Institute
The Digital Transformation Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in the United Kingdom and India.