Legacy IT systems are still common across financial services, but the recent lockdown-driven shift to online banking has meant many are being stretched to their limits by digital demand.

This, coupled with the fact that most are on-premise - requiring physical maintenance in a time of remote working - means that the scale and complexity of IT upgrade projects has also increased recently.

One particularly risky element is File Transfer Protocols, which are usually only password protected, and therefore outdated in terms of modern multi-factor security standards. With more sensitive customer data being sent than ever, it's crucial that this is safe from cyber criminals – who are increasingly targeting financial services firms.

To get a better idea of the extent of the problem, and discuss some of the potential tech solutions, this podcast features a conversation with Gregory Mooney, community development manager for IT and security at Progress.