Veracode's State of Software Security Report.

Veracode recently released findings from its State of Software Security (SOSS) Volume 10 report showing the finance industry fixes 76% of flaws in its software, well above the average 56% across all industries. Yet the report also found financial services institutions were the second slowest industry, only behind healthcare, to remediate software flaws, taking over two months (67 days) on average.

The report studied levels of security debt, defined as the amount of unaddressed flaws that accumulate in software over time, across the financial services, government and education, healthcare, infrastructure, manufacturing, retail and technology industries.

Paul Farrington, Chief Technology Officer, EMEA at Veracode commented: "The financial services sector in particular has undergone rapid digital transformation, leaving many large financial institutions with a hotchpotch of new and legacy systems. This has led to a vast amount of security issues, which is particularly precarious in such a heavily regulated industry that stores a wealth of personal data. To overcome these challenges, financial services organisations have had to upskill quickly, and over the past 10 years we've seen a vast improvement in the overall state of application...

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