Financial firm cyberattacks were analyzed in a recent report by Agio. According to the report, 77% of firms reported an increase in attack frequency, and 87% said attacks were more severe. These firms unanimously (100%) said they would look to outsource their cybersecurity programs to third-party providers to shore up their cyber defenses.

Among this year's survey respondents, firms that currently insource their cybersecurity programs reported they initially chose to do so to protect hybrid work environments (62%), consolidate cybersecurity and managed IT services (41%) and tap industry-specific and regulatory expertise (33%).

Among these same firms (those who primarily insource their cyber programs), those three reasons now rank as the biggest drivers for moving cybersecurity programs to a third-party provider. The report also found that respondents unanimously agree it is essential for cybersecurity and technology teams to work as a single, holistic unit to bolster a firm's cyber posture. 

Read the full report here.