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The Impact of Immigrants On the Revitalization of Global Banking Through Cybersecurity

Adekola Adams Temitope Esther Lewis Olayinka Esther Abudu

Subject area: Science,Engineering and Technology  ·  Area of research: Cybersecurity

Abstract

This research explores the important role immigrants play in seeking to address escalating cybersecurity challenges within the global banking sector and their transformative contributions to the industry's revitalization. Cyber threats are becoming increasingly complex and pervasive, therefore, the need for diverse proficiency and innovative approaches has never been greater. Immigrants bring a wealth of technical skills, unique problem-solving capabilities, and culturally informed perspectives that play an instrumental role in the fortification of cybersecurity frameworks. (Fintech Futures, 2018; Merrill, 2024) Beyond the technical contributions they provide, their presence fosters cross-cultural collaboration, enhances global knowledge exchange, and promotes adaptability in navigating the interconnected financial landscape. This paper highlights how leveraging immigrant talent not only strengthens the sector?s resilience to cyber risks but also catalyzes innovation and operational excellence. By advocating for inclusive workforce strategies, the study emphasizes the importance of maximizing immigrant contributions to secure the future of global banking and drive its evolution in an era of digital transformation. (Tarun, 2022; Committee on STEM Education, 2021).

Keywords

Cybersecurity, Immigrants, Global Banking, and Technology.

References

[1] Al-Bassam, S., & Al-Alawi, A. (2019). The significance of cybersecurity systems in helping manage risk in the banking and financial sector.

[2] Anne Morris (2024) Immigrants’ Economic Contributions to the UK https://www.davidsonmorris.com/immigrants-economic-contributions/#:~:text=According%20to%20a%20report%20from,UK%20economy%20in%202019%20alone.

[3] Blueliv (2023) https://outpost24.com/de/wp-content/uploads/sites/2/2023/07/outpost24-finance-whitepaper.pdf

[4] Committee on STEM education of the National Science and Technology Council (2021) Best Practices for Diversity and Inclusion in STEM Education and Research. https://www.whitehouse.gov/wp-content/uploads/2021/09/091621-Best-Practices-for-Diversity-Inclusion-in-STEM.pdf

[5] Diptiben Ghelani (2022). Cyber Security Threats, Vulnerabilities, and Security Solutions Models in Banking. American Journal of Computer Science and Technology. Vol. x, No. x, 2022, pp. x-x. doi: 10.11648/

[6] Fintech Futures (2018) Immigration in the Banking Technology Industry: A Positive Story. https://www.fintechfutures.com/2018/01/immigration-in-the-banking-technology-industry-a-positive-story/

[7] House of Commons Science, Innovation and Technology Committee (2022) Diversity and Inclusion in STEM: Government Response to the Committee’s Report. https://publications.parliament.uk/pa/cm5803/cmselect/cmsctech/1427/report.html

[8] Katja Tuma., & Romy Van Der Lee (2022) The role of diversity in cybersecurity risk analysis: an experimental plan https://www.researchgate.net/publication/366534382_The_role_of_diversity_in_cybersecurity_risk_analysis_an_experimental_plan

[9] KPMG (2018) Global Perspectives on Cyber Security in Banking https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2018/05/global-perspectives-on-cybersecurity-in-banking.pdf

[10] Lin Rose Walker, Esq. and Scott R. Malyk, Esq. (2024) Thinking Outside the Box: U.S. Immigration Options for Cybersecurity Professionals. https://meyner.com/wp-content/uploads/2021/10/Cybersecurity_and_immigration_v4_Meyner_and_Landis_Gil_Sans.pdf

[11] Mckinsey (2023) https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/cybersecurity/cybersecurity-trends-looking-over-the-horizon

[12] Nick Merrill (2024) The Cybersecurity Workforce Has an Immigration Problem. https://www.techpolicy.press/the-cybersecurity-workforce-has-an-immigration-problem/

[13] Renee Tarun ( 2022) Why Cybersecurity Needs a More Diverse and Inclusive Workforce https://www.weforum.org/stories/2022/12/how-boosting-diversity-cybersecurity-skills-gap/

[14] Reuters (2014) https://www.reuters.com/article/technology/jpmorgan-hack-exposed-data-of-83-million-among-biggest-breaches-in-history-idUSKCN0HR23T/

[15] Rocío Lorenzo, Nicole Voigt, Miki Tsusaka, Matt Krentz, and Katie Abouzahr (2023) https://www.bcg.com/publications/2018/how-diverse-leadership-teams-boost-innovation

[16] Ross Haleliuk (2024). How the top cybersecurity talent can immigrate to the United States. https://ventureinsecurity.net/p/how-the-top-cybersecurity-talent

[17] STEM WOMEN (2023) 10 Practical Steps for Inclusive Recruitment in STEM ISE Insights https://insights.ise.org.uk/diversity/blog-10-practical-steps-for-inclusive-recruitment-in-stem/

[18] Venture in Security https://ventureinsecurity.net/p/how-the-top-cybersecurity-talent

[19] World Economic Forum (2022) Global Risks Report https://www.weforum.org/publications/global-risks-report-2022/

[20] World Economic Forum (2024) Collaboration is key to tackling cybercrime. Recent takedowns show whyhttps://www.weforum.org/stories/2024/11/collaboration-key-tackling-cybercrime-cybersecurity/

How to cite this paper

Adekola Adams , Temitope Esther Lewis , Olayinka Esther Abudu "The Impact of Immigrants On the Revitalization of Global Banking Through Cybersecurity" Iconic Research And Engineering Journals Volume 8 Issue 6 2024 Page 741-750
Adekola Adams , Temitope Esther Lewis , Olayinka Esther Abudu "The Impact of Immigrants On the Revitalization of Global Banking Through Cybersecurity" Iconic Research And Engineering Journals, vol. 8, no. 6, Dec. 2024
Adekola Adams , Temitope Esther Lewis , Olayinka Esther Abudu (2024). The Impact of Immigrants On the Revitalization of Global Banking Through Cybersecurity. Iconic Research And Engineering Journals, 8(6).
Adekola Adams , Temitope Esther Lewis , Olayinka Esther Abudu "The Impact of Immigrants On the Revitalization of Global Banking Through Cybersecurity" Iconic Research And Engineering Journals, vol. 8, no. 6, Dec. 2024.
@article{1706782,
      author = {Adekola Adams , Temitope Esther Lewis , Olayinka Esther Abudu },
      title = {The Impact of Immigrants On the Revitalization of Global Banking Through Cybersecurity},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {6},
      pages = {741-750},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1706782.pdf},
      abstract = {This research explores the important role immigrants play in seeking to address escalating cybersecurity challenges within the global banking sector and their transformative contributions to the industry's revitalization. Cyber threats are becoming increasingly complex and pervasive, therefore, the need for diverse proficiency and innovative approaches has never been greater. Immigrants bring a wealth of technical skills, unique problem-solving capabilities, and culturally informed perspectives that play an instrumental role in the fortification of cybersecurity frameworks. (Fintech Futures, 2018; Merrill, 2024) Beyond the technical contributions they provide, their presence fosters cross-cultural collaboration, enhances global knowledge exchange, and promotes adaptability in navigating the interconnected financial landscape. This paper highlights how leveraging immigrant talent not only strengthens the sector?s resilience to cyber risks but also catalyzes innovation and operational excellence. By advocating for inclusive workforce strategies, the study emphasizes the importance of maximizing immigrant contributions to secure the future of global banking and drive its evolution in an era of digital transformation. (Tarun, 2022; Committee on STEM Education, 2021).},
      keywords = {Cybersecurity, Immigrants, Global Banking, and Technology.},
      month = {December},
  }