Bug Bounty Adoption in the Financial Services Industry

The financial sector is a prime target for cyber attacks due to the sensitive and valuable information held by banks and financial institutions. The industry has seen a significant rise in web application attacks, with 82% of all web app attacks targeting financial services organizations, up from 31% in 2015. In response, financial institutions are increasingly adopting crowdsourced application security testing programs, with a 400% increase over the past three years, and reporting higher payouts per bug, on average $323. These private bounty programs offer benefits such as access to controlled testing environments and sensitive data testing, which are valued by organizations like Western Union, which has seen success in harnessing the volume, diversity, and quality of a crowdsourced security testing crowd.

No tracked trend matches for this post yet.

Use this post, company, and trend context to find content marketing opportunities, perform competitive analysis, or address product feature gaps via the Plushcap MCP server or the Plushcap API.