Managing Cybersecurity Debt in FinTech: A Practical Approach for Financial Risk Quantification and Strategic Decision Making
Abstract:
Managing cybersecurity risks within financial technology organisations is increasingly complex, with traditional qualitative assessments falling short in quantifying the financial implications of cyber threats. This paper presents an approach to implementing a Cybersecurity Debt Management Model, which integrates cybersecurity with financial risk management methodologies, demonstrating a structured method for operationalising the model within a FinTech IT environment. The model quantifies the financial impact of unresolved cybersecurity vulnerabilities, facilitating decision making, targeted resource allocation, and regulatory compliance. The proposed approach provides organisations with insights into managing cybersecurity debt, thereby promoting resilience and alignment of technical measures with strategic objectives.
AUTHORS
University of the Western Cape,
Cape Town, South Africa
Christo Coetzer is a cyber security innovator with over 20 years of industry experience. He is the Director & CEO of BlueVision, a global cyber security professional services business specialising in early intervention and threat detection. Alongside multiple industry certifications, he holds an MSc in Computer Science (Information Security) from Rhodes University and is pursuing PhD research at the University of the Western Cape, where he is developing a decision support model for managing cybersecurity debt in the South African FinTech sector. His research has been featured at the International Conference on Cyber Warfare and Security (ICCWS), most recently in 2025, where he expanded on the financial quantification of cyber risks.
University of Western Cape and CAIR
Cape Town, South Africa
Louise Leenen is an Associate Professor in the Computer Science Department at the University of the Western Cape (UWC) in South Africa. She completed her PhD in Artificial Intelligence (AI) at the University of Wollongong in Australia in 2009. Her research focus areas are AI in cybersecurity, and problem formulation and modelling. Leenen is a member of the Centre for Artificial Intelligence (CAIR) and leads the CAIR node in AI and Cybersecurity. She regularly serves in various positions on committees of national and international bodies such as the NRF, BRICS, and IFIP. She has authored or co-authored more than 80 journal and conference papers.
Published In
Journal of Information Warfare
The definitive publication for the best and latest research and analysis on information warfare, information operations, and cyber crime. Available in traditional hard copy or online.
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