Creating a secure ecosystem in financial services

It used to be widely imagined that fintechs were attackers, lined up in opposition to incumbent financial institutions. Some are, but it is more realistic to think of fintechs and longer standing financial institutions as part of a larger combined ecosystem, with many fintechs providing services to financial institutions rather than competing for business. As a result, security is not a source of competitive advantage but rather a common goal ... as described in this initiative from the WEF. This way of thinking needs to be fully reflected in the enterprise security strategy and operating model of major financial institutions, and rolled out into their third party risk management approaches.