Analysis of the Impact of Cybersecurity on The Stability of Financial Institutions

Abstract

The issue of the impact of cybersecurity is a top priority for the functioning of a financial institution. Therefore, its provision becomes a priority in organizing the further activities of the institution itself. The article aims to analyze the current trends in ensuring the cybersecurity of financial institutions and its role in their functioning. The paper describes the theoretical foundations of the cyber protection concept. The authors also outline the specifics of cybersecurity and the leading technological solutions for achieving these goals. Special attention is paid to modern, innovative solutions to maintain the stability of financial institutions and the possibility of further development. An important area of research is the disclosure of the practical experience of information corporations in providing technical solutions to ensure the security of financial transactions and support the global financial system. The study presents the experience of Ukrainian financial institutions that use variable digital defense strategies and maintain their functionality based on an effective cybersecurity system in the context of a global military conflict. The results of the study include a detailed profile of effective practical solutions to ensure the stability of financial institutions based on the implementation of blockchain technologies. The authors pay attention to the issue of modern software, hardware, and management solutions to improve the quality of cybersecurity in the context of growing cyberattacks and digital threats to the stability of financial institutions. The research findings may be helpful for further analytical studies on the effectiveness of cybersecurity and the stability of financial institutions.