Esat Yaşar Çağlayan, Head of Information Systems Security at Anadolubank, discussed the cyber risks facing the banking sector in the coming period.
Çağlayan stated:
“Looking ahead to 2025, there are many threats in the banking sector, but this also creates many opportunities. One of the biggest challenges is actually supplier management. Because every bank has multiple suppliers, and managing and monitoring them is, frankly, one of the most important issues in terms of information security. Beyond that, end-users, new partners developing with evolving technology – API partners, API security partners – can be summarized as the risks for banking in the coming period.”
Banking Sector Outlook for 2025
2025 is projected to be a period of intense threats and opportunities for the banking sector. Technological advancements, digitalization, and global economic dynamics are reshaping banks’ business practices and strategies. One of the biggest challenges banks will face in this process will be supply chain management. The fact that banks work with multiple suppliers, and the management and monitoring of these suppliers, is critically important from an information security perspective. Furthermore, new technological partnerships such as APIs and API security are among the risks that need to be considered in the banking sector.
The Importance of Supply Chain Management
Banks collaborate with many suppliers to maintain their services. Managing these suppliers is crucial for the operational efficiency and information security of banks. Any disruption in the supply chain can directly affect the quality of service provided by banks. Therefore, banks need to invest more in supply chain management and manage these processes more effectively.
Information Security and Risk Management
Information security has always been a priority in the banking sector. Cyber threats are expected to increase further by 2025. Banks need to update their information security strategies and be more proactive in this area. Risk management should not be limited to cyber threats but should also encompass operational and strategic risks.
The Role and Security of APIs
APIs play a significant role in banks’ digital transformation processes. They are used to provide better service to customers and develop new business models. However, API security is also a major concern. Banks need to invest in API security and follow best practices in this area.
Digital Transformation and Technological Innovations
Digital transformation is an inevitable process in the banking sector. Technological innovations enable banks to improve customer experience and increase operational efficiency. Banks need to consider customer needs and market trends when defining their digital transformation strategies.
End-User Experience
End-user experience is a critical factor for banks to gain a competitive advantage. Customer expectations are constantly changing, and banks need to respond quickly to these expectations. User-friendly interfaces, fast and secure transaction processes are among the factors that increase customer satisfaction.
Future Preparation and Strategic Planning
It is important for banks to review their strategic plans and develop flexible strategies for the future as they prepare for 2025. Technological innovations, customer expectations, and market dynamics should be considered in this process. The ability of banks to adapt quickly to changing conditions is critical for gaining a competitive advantage.
The banking sector will face many opportunities and threats in 2025. Issues such as supply management, information security, APIs, and digital transformation should be among the strategic priorities of banks. Banks need to adopt a proactive approach in this process and shape their future strategies accordingly.
About the Wise
