The Challenges to innovations in Bank Security

The opportunities that Industry 4.0 provides come into the banking sector with great power, especially in banking security. Information technologies, telecommunications, security systems and monitoring merge into an integrated security system. It is still impossible to say exactly what bank security will look like in the future. It is important to keep in mind that the integrated security system will be able to self-organize; the processes in it will be automated according to the identified need. Despite the high degree of perfection of banking security, people will remain a significant part of the Industry 4.0 world – as managers who will use their intellect to set all processes and procedures in advance. For Industry 4.0, banks need to introduce a variety of innovations to help achieve the required level of security that responds to dynamic changes in the banking environment. The object of research in this paper are the commercial banks operating in Bulgaria. The implicit innovations that banks have to put in place to meet the requirements of European legislation as well as those of a selective nature have been defined. The state of banks in relation to the introduced innovations has been revealed.