ICYMI: PR has an important role to play in cybersecurity and fintech
Welcome to ICYMI – a weekly snapshot of European news stories that have given me pause for thought. ICYMI is a chance for you to go beyond the front-page headlines and find out what other stories may be worthy of your attention.
Cybersecurity and fintech are closely linked. Financial technology promises to make managing our money easier, quicker, and more efficient. But the more we rely on digital and online banking, the more exposed and vulnerable we become to cybercrime. Cybercriminals are constantly coming with new and innovative ways of targeting victims, and so cybersecurity companies are constantly trying to stay ahead of or catch up to these bad actors.
In fact, cybersecurity is one the “big three” tech topics that dominate online discussions among the technology influencers we track as part of the Tyto Relevance Index. According to our latest quarterly research, cybersecurity accounted for 12% of all the social media posts we analyse published by European tech influencers over the past three months.
Three recent media stories highlighted the link between cybersecurity and fintech. First, there was a troubling story published by The Guardian in the UK about how some university students are turning to cyber fraud to boost their income. According to police, sites on the dark web are making it easier for users to scam people and commit crime, with tutorial videos and a “customer service” to help users install the necessary software. Developments in technology and resources like these websites mean that fraudsters no longer need technical skills, like that ability to code, to commit cybercrime.
At the other end of the scale is this story from Le Figaro in France about this year’s big sporting event: the Paris Olympics. According to the report, technology companies like Atos, Orange, and Visa are actively preparing for the games. A Technology Operations Centre is already in action in Seine-Saint-Denis, where more than 2,000 experts will be working to ensure smooth technological operations during the event. Visa is prepping to handle all the transactions, including alternatives to bank cards, and cybersecurity is a major priority: the authorities anticipate up to four billion potential cyberattacks during the games, and so are running hundreds of scenarios to prepare for any situation.
Finally, Het Financieele Dagblad, one of the main daily nationals in the Netherlands, reported on the growing collaboration in cybersecurity and fintech between Spain and the Netherlands as the Spanish King Felipe and Queen Letizia visited the country. According to the report, Spain’s fintech sector has experienced significant growth in recent years while traditional banks lagged behind. In fact, Spain now boasts more than a thousand fintech companies, making it the fifth country globally in terms of fintech quantity. The emergence of these fintech firms has helped to diversify Spain’s economy, which has historically relied on tourism. The collaboration between Spain and the Netherlands in fintech and cybersecurity highlights the significance of cross-border partnerships in tackling modern financial challenges and the increasingly pertinent threat of cybercrime.
From a PR perspective, it’s clear that there is an important need to educate audiences about both topics. As PRs, we have an important role to play in amplifying the voices of cybersecurity and fintech firms, either to reassure readers that their money and data is safe, or to inform them on the best practices to protect themselves in today’s digital environment.
