The Hidden Costs of Downtime in Financial Services
Downtime in financial services inflicts significant financial damage, causing a revenue loss of $37M annually, nearly one-quarter of organizations’ total downtime costs. The true impact goes beyond revenue, affecting customer trust, brand reputation, and operational efficiency.
In “The Hidden Costs of Downtime in Financial Services,” we explore the major drivers behind these disruptions, the root causes, and the strategies leaders are adopting to build more resilient operations.
The average annual downtime cost for financial services organizations stands at a staggering $152M. Human error remains the top cause, contributing to 55% of cybersecurity-related downtime, highlighting the need for enhanced employee training and robust security protocols.
To combat downtime, 56% of organizations have turned to generative AI features embedded in existing tools, automating routine processes and enabling faster response times.
For a deeper look at these challenges, actionable insights, and a comprehensive checklist to minimize the impact of downtime, download our guide now.
Download this PDF to learn how to safeguard your operations against costly disruptions.
