cyber attacks

In September 2023, after months of discussions, Nord/LB's stakeholders gave the green light for the implementation of a new bank management IT system. The multi-year programme is crucial for the future profitability of the bank. COO Christoph Auerbach gives Börsen-Zeitung an update on the project.

Banks are facing geopolitical challenges that can no longer be met with conventional risk management methods. ECB Banking Supervision identifies three main channels via which shocks can reach the banking system.

Banks are facing more and more professional cyberattacks, says IT expert Thomas Schumacher. The brazenness of the perpetrators is also increasing. In the USA, a hacker group recently reported a bank it had attacked to the SEC for allegedly not reporting the incident.