Banking on resilience: 20 years of cybersecurity evolution

Abstract

Background: The rise in cyberattacks, particularly targeting financial institutions, poses significant risks. A shift towards cyber threat resilience, emphasising proactive strategies for recovery and adaptation, is essential. The financial sector must develop and implement holistic resilience strategies to ensure long-term operational preparedness against evolving cyber threats.
Objectives: The objectives of this bibliometric analysis were twofold. Firstly, to identify trends, patterns, and relationships in the literature on information system (IS) cyber resilience in the financial sector. Secondly, to explore how research on IS resilience has evolved and to identify key themes and emerging topics in the field.
Method: The study retrieved 228 documents from the Scopus database. Analysis techniques included citation analysis, coauthorship analysis, co-word analysis, and network analysis. The analysis was performed using Biblioshiny.
Results: The results reveal a significant uptick in 2018. Collaboration patterns support steady growth, but many developing nations are underrepresented. The study indicates a link between risk management and cybersecurity in the finance sector and supports the drive to develop resilience strategies and frameworks. Existing literature has primarily focused on cybersecurity measures and technical defences without sufficient attention to how organisations recover and maintain operations after a cyberattack. There is insufficient focus on enabling shared resilience cultures, as organisational preparedness goes beyond technology.
Conclusion: The bibliometric analysis highlights gaps in cybersecurity literature, emphasising the need for integrated frameworks, proactive strategies, and cross-disciplinary collaboration to enhance cyber threat resilience and preparedness.
Contribution: The study highlights the fragmented nature of cyber threat resilience literature in the financial sector.