A widening gap exists between IT and business in many UK financial services companies that poses severe operational and security risks for mobile and online services, a recent report claims.

According to the IDC Financial Insights White Paper commissioned by US internet content delivery network Akamai, the gap is an unintentional consequence of business decision-makers within financial institutions lobbying for new and enhanced digital services and being stonewalled by IT departments fearful of the growing security threat from mobile malware.

Furthermore, the research has shown that the UK financial services sector needs to evolve its product and service offerings in order to meet the needs of a customer base which is both increasingly diverse and demanding. Fundamental to this process is enhancing service channels, with a particular emphasis on making improvements to the user experience associated with online and mobile banking. The research also advises that security must be integral to this process, as attack sophistication and volume increases.