The cybersecurity landscape for financial institutions and finance technology (fintech) has changed dramatically in the past few years, and 2023 will likely be no different.

In 2022, for example, distributed denial-of-service (DDoS) attacks targeting financial firms increased by 22% worldwide, compared to the previous year, according to a joint report published by the Financial Services Information Sharing and Analysis Center (FS-ISAC) and Internet infrastructure firm Akamai. Financial institutions in Europe saw an even greater jump, with 73% more DDoS attacks, the report stated.