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Financial institutions are investing heavily in cybersecurity and AI-powered security tools, but new research suggests that adding more disconnected technologies is making it harder to detect breaches. According to Gigamon, 42% of financial firms say breach detection now takes longer despite increased spending, while 52% cite fragmented security tools as their biggest challenge. Nearly all firms that experienced a cyberattack reported material financial damage, including regulatory fines, higher insurance costs, and operational disruptions. The report also highlights growing concerns over AI governance, internal data leaks, and future quantum computing threats, with financial firms increasingly automating security processes while facing stricter regulatory requirements. It concludes that organizations should prioritize greater visibility across their technology environments over simply adding more security tools to better manage cyber risk and compliance.
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