Cybersecurity, large groups and startups

Head of Cross-Business Cybersecurity - CASA

CEO - Le Village by CA Paris

The Crédit Agricole Group contributes to the society’s digital transformation and supports its customers by providing them with efficient and secure digital banking services.

The threats we face are constantly evolving and criminal groups use the latest innovations in the digital world in a very agile way. The example of the “fraud against the president” of a treasurer in Hong Kong in 2024 thanks to AI and the “deep fake” technique is a very good illustration of this.

We must therefore approach these threats through the prism of new technologies and adapt our security response very quickly.

Innovation for cybersecurity as a lever to secure the digital transformation of society and our customers

The Cybersecurity and IT Risk division of the Crédit Agricole Group structures its approach to innovation in the service of cybersecurity, allowing it to address topics as varied as AI in the service of cybersecurity, post-quantum cryptography, blockchain in the context of digital currencies or augmented or virtual reality in the context of the metaverse.

Cybersecurity start-ups: a dense ecosystem in full evolution seen as accelerating the innovation of the Crédit Agricole Group

The digital world is creating a thriving start-up ecosystem, including in cybersecurity. The Crédit Agricole Group is constantly listening to this world via the network of Villages by CA, its presence at the Cyber Campus or in its exchanges of places and a central role that allows it to regularly exchange on the latest technological advances, build a dedicated watch and therefore feed its innovation process.

Paradigm shift: from a start-up watch to active collaboration in both directions

In order to respond in a more agile way to new threats, it is now necessary to go further in these exchanges with the ecosystem of start-ups oriented cybersecurity by developing the co-construction approach.

The two ecosystems are of course complementary by providing each other with expertise for better security at the service of our customers.

Ongoing competition between financial institutions and cybercriminals

Banks and insurance companies have always been committed to the permanent fight against fraud and crime. It is a silent but fierce competition, where each side continually innovates to take advantage. For decades, financial institutions have dominated this fight through their resources, expertise, and ability to invest heavily in advanced safety nets.

But today, the situation is different. Criminal groups have adopted a new approach: they now operate as startups, with an agility and a very strong capacity for innovation. With no organizational burden, no regulatory constraints, they test, fail, improve, and repeat their attacks at a frenetic pace. Cryptography, artificial intelligence, automation... They master cutting-edge technologies and immediately reinvest their gains in new offensives.

In the face of this threat, which is evolving faster than ever, financial institutions are facing a major challenge: how to stay ahead of the curve?
 

Cyber startups: a strategic and indispensable response

Against this backdrop, a dense ecosystem of cybersecurity startups emerged. Agile, innovative, and able to experiment quickly, they are now strategic partners for large financial institutions. Not only do they provide cutting-edge technological solutions, but they also provide the speed of innovation needed to keep up with the rapid pace of cybercriminals.

Far from competing with major banking and insurance groups, these startups are an essential link in effective defense. Their ability to adapt allows them to complement and increase overall financial sector protection.
 

Towards model hybridization: adapting or enduring

While working with startups is essential, it is precisely on this hybridization of models that the Village by CA, the largest start-up accelerator in Europe, plays a central role. At the intersection of large groups and innovative start-ups, they facilitate strategic synergies, thus accelerating the transformation of financial players in the face of new cyber risks.

However, these collaborations alone are not enough. Large financial institutions also need to rethink their own resilience. How can they integrate some of this agility internally? How can they promote more entrepreneurial approaches to anticipate and respond to constantly evolving threats?