The BFSI industry in India has been burgeoning in various ways, ever since technology and its usage started to replace the physical procedures involved in the entry and maintaining of the enormous data and large volume transactions. As a matter of fact, the sector can be categorically identified as one of the largest contributors towards the growth of the economy, at the same time it has linked all essential individual information in a single string for the entire populace of the country.
With Prime Minister Narendra Modi taking minute interest in taking Banking to the last mile, the BFSI sector too has been a major source of Information generation, thus contributing to the sea of data. Adding on to this, newer technologies as, associating an individual’s Adhaar information to his Banking details has enabled in multiplying the scope of growth of information.
Needless to mention all these data and information are confidential and are of immense intellectual value to the nation.
With the advent of technology in the BFSI sector, it not only made easy the handling and processing of these data in the nest possible manner, but it also ensures several methods and techniques to ensure the safety of these information. However, there are several instances in the banking domain across the world, where such delicate data has been mal-utilized and are threatened by the same technology, of their safety.
Not only it’s about the Information Security or InfoSec of this vital information generated across the country in the banking domain, the physical security involved in protection of financial institutions has been equally important to ensure safety and security. By breaching traditional security systems to threaten the safety of banks, the offenders have challenged the security manual involved in the Indian BFSI sector.
With the idea of discussing the threats and challenges related to the BFSI sector- both digitally and physically, the modern technologies involved in securing networks and ensuring physical and digital safety to financial institutions and data, thus leaving behind the scope for further developments in this sector—Elets BFSI Security Summit 2016 look forward to gather eminent stakeholders from the industry together with bankers who are working day in and out to ensure safety to the robust network.