As financial technology, or FinTech, keeps advancing at lightning speed, so do cyber-attacks. Cyber criminals identify vulnerabilities in payment platforms, putting billions of dollars and private data at risk. With 75% of the world’s customers already having access to FinTech services, it just keeps going with digital payments and online banking growing. A staggering 75% of customers across the globe now use at least one FinTech product, a figure that will continue to rise as online banking and digital payments become increasingly more mainstream. Thierry Zoller, J.P. Morgan Mobility Payments Solutions S.A.’s Chief Information Security Officer, is a front-line fighter against such threats. With almost three decades of experience, his technical expertise in cybersecurity, strategic perspective, and passion for technology propel his mission to protect mobile payments in a world that is rapidly becoming cashless.
Thierry identifies three basic challenges that are prevalent in many different sectors, though each takes place under the specific circumstances. The first is the Asymmetry of Offense, where attackers have an easier and less expensive way to attack than defenders have to fend them off. New technologies such as AI can exacerbate the situation by introducing more vulnerability and attack surfaces. The second challenge is the talent shortage, as there is a significant gap between the demand for skilled cybersecurity professionals and the available supply. The shortage hinders organizations from being able to protect themselves adequately against threats, with high burnout and stress rates that only exacerbate retention.
Finally, Thierry identifies Organizational Embedment as a key challenge. Cybersecurity must be embedded across the organization, there must be costs attached to security programs, and there must be shared responsibility for security. It can be addressed by shifting from reactive to proactive practices, more collaboration, and more executive involvement, posing a big challenge for CISOs. In solving such a challenge, Thierry emphasizes that the CISO must be well-versed in critical skills as leadership, business, and risk management. Even with the transformation of the CISO role, from the technical-focused mindset to the general organization leadership, these are what are required in achieving an impenetrable, integrated cybersecurity strategy based on the company’s objectives.
Celebrated by The CIO World as one of Europe’s Most Influential CISOs of the Year in 2024, Thierry Zoller’s expertise highlights the critical need for proactive strategies to counteract the growing threat landscape, from the asymmetry of offense to the ongoing talent shortage.
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