Impact of Cybersecurity on Supply Chain: Banking Sector Case Study

With the world's economy taking on a digital character, it is important now more than ever to integrate cyber-security in supply chain operations, especially in banking, where aspects of the data, such as confidentiality, integrity and availability are very critical. The study examined the effect of cyber-security actions on the banking industry's supply chain in its ability to recover, sustain and manage risk. This work used a questionnaire that targeted managers and clients and involved 30 managers and 260 digital banking clients. Out of the data collected, 200 were legitimate for analysis using PLS-SEM V4 and IBM SPSS V26. In our survey, we also discarded 30 responses as they did not provide valid responses to the survey including having a standard deviation of zero and identified as outliers using Cook's distance. The research explored current approaches in risk mitigation through a variety of mechanisms such as zero-trust architecture,incident response frameworks, and vendor risk assessments. The results showed that well-established, knowledgeable managers were aware of and taking cyber-security actions. This makes it clear that stakeholders need to regularly evaluate cyber security practice training and talks.However, clients providing banks a passing mark to collaboratively educate clients regarding cyber-security risks better given they were satisfied with the level of security in their accounts.