As the economy transitions from post-COVID to prerecession conditions, a sea of change is washing over the cybersecurity industry. Changing economic conditions and evolving approaches to secure digital assets will create a frothy cybersecurity sea in 2023 for chief information security officers (CISOs) and other risk leaders at financial services firms.
These changes will be good for some and not so good for others. The not-so-good has come to technology vendors selling to financial services firms who have been forced to make tough choices, including laying off personnel. In contrast, the good has come to the private equity community, which has taken advantage of depressed company values to build up investment portfolios.