Cost of Downtime in UK Financial Sector

This executive brief outlines the real cost of downtime for financial institutions in the UK, detailing the operational, reputational, and regulatory impacts of cyber disruption. It highlights that cyberattacks, IT failures, and regulatory breaches pose daily risks to these organizations, with consequences extending beyond lost transactions to include threats to client trust and compliance standing. The document presents real-world examples of cyber disruption and discusses the implications of key regulatory frameworks such as the UK GDPR and operational resilience rules from the FCA and PRA. Furthermore, it provides a practical path to achieving cyber resilience through modern infrastructure, emphasizing the importance of proactive cyber controls and recovery capabilities in the context of evolving regulatory expectations. The brief also includes a case study of a ransomware incident affecting an international insurance provider, illustrating the financial repercussions and necessary improvements in resilience strategies.