Enhancing cybersecurity in digital banking transformation: A framework for secure payment ecosystems

The financial services industry is undergoing a profound digital transformation, fundamentally altering how banks operate and engage with customers. At the epicenter of this revolution lies the payments ecosystem, which is rapidly evolving through the adoption of real-time payment networks, open banking APIs, and cloud-native infrastructures. While this transformation unlocks unprecedented efficiency and innovation, it concurrently expands the institutional attack surface, introducing complex and dynamic cybersecurity threats. This paper examines the unique vulnerabilities emerging within modern digital payment systems. It posits that traditional, perimeter-based security models are no longer sufficient to protect against sophisticated, multi-vector attacks. This research proposes a multi-layered, proactive cybersecurity framework grounded in Zero Trust principles, AI-driven threat intelligence, and data-centric protection. Through a detailed analysis of modern payment architecture and a use case for core banking professionals, this paper provides a strategic roadmap for financial institutions to embed security into the fabric of their digital transformation, thereby fostering trust, ensuring regulatory compliance, and securing the future of digital finance.