Strategic Analysis of Cybersecurity Challenges for Nationwide

This document is a strategic analysis focused on cybersecurity challenges faced by Nationwide, a building society with a unique mutual structure. It outlines the distinctive cyber risks associated with its democratic governance model, which includes member voting systems and communications that can be exploited by sophisticated attackers. The analysis highlights the significant increase in voice phishing attacks and the vulnerabilities that arise from the organization's mutual ethos. It emphasizes the need for a cohesive security strategy that aligns with evolving regulatory requirements, including NIS2, DORA, PSD2, and GDPR. The document presents a 120-day roadmap for strengthening security across digital and branch channels, detailing critical considerations for financial services operations. It identifies four main threat vectors: cloud-conscious attacks, identity-based attacks, cross-domain attacks, and social engineering. The analysis concludes with a unified security architecture approach that aims to safeguard financial data, build operational resilience, and enable secure digital transformation, addressing the complexities of modern cybersecurity challenges.