Financial institutions and other allied organisations have been charged to prioritise cybersecurity since cyber-attacks if not curtail could erode trust and confidence in those institutions.

According to the Chief Enablement Officer of ABSA Bank, Ebo Richardson, institutions should rank cybersecurity same as they do with the other important indicators such as liquidity and Non-Performing Loans.

Speaking at the Joy Business Innovare Executive Insight Conference on Business Value of Cybersecurity, Mr. Richardson said creating value using cybersecurity is important to growing business.

He said organizations prone to cybersecurity should create security cultural programmes all the time to ensure their systems are safe.

He added that “It is impossible to have an information security programme without looking at the people aspect of it as well. There is the need to have security cultural programmes that will enable users or employees to be risk averse in relations to the things they do in the organization on a day to day basis.”

He further added: “let’s access what the technologies are and also take inventory of their information assets and begin to look at the threats that are likely to impact these assets. Based on these analysis, controls can be implemented to safeguard these assets”.

The event which drew security information experts and practitioners from various field was to help bring critical understanding to business leaders on the business value of cybersecurity.