Australia's digital payments sector is booming, but many financial institutions, particularly smaller ones, face significant challenges due to outdated identity security systems. These challenges are compounded by increasing cyberattacks, stringent regulatory pressures, inefficient manual processes, and the growing complexity of machine identities. In this byline, SailPoint's ANZ Managing Director Nam Lam explores how prioritising identity security can help FSIs mitigate risks, maintain compliance, and drive seamless digital transformation, safeguarding their operations and reputations in an ever-evolving landscape.