Navigating the AI-powered development era in financial services

Australian and New Zealand financial service institutions are under pressure to innovate quickly while maintaining robust security and regulatory compliance, with many exploring Generative AI to accelerate software development. However, this increased velocity comes with a catch, as the use of AI coding assistants has intensified vulnerability management challenges, leading to significantly less secure code and an increased risk of security vulnerabilities. To adopt AI-powered coding safely, FSIs must enhance LLMs with proprietary data, rigorously test AI-generated code, keep human experts involved in overseeing AI operations, implement automated tools to review code, and adopt governance frameworks and guidelines. Developers also need practical tools and training to understand the risks of vulnerable code, and security champions or mini-CISOs within development teams must be appointed to drive security implementation. Ultimately, prioritizing speed and security is crucial, with developer-first platforms like Snyk providing 2.4x faster scans and automated one-click remediation to take the manual work out of fixing vulnerabilities.