Analysing Secured Banking
Banking, Financial services and Insurance (BFSI) sector 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 enormous data and large volume transactions. As the inclination of banking sector towards digitisation is rising, the risk of getting exposed to various threats and breaches is also getting high. With the idea of discussing the threats and challenges related to BFSI sector- both digitally and physically, in tune with 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 Technomedia organised “The BFSI Security Summit 2016” at Vivanta by Taj – President, Mumbai on 15 December 2016. The grand summit witnessed the confluence of key decision makers and experts from banking, insurance, financial, government, law enforcement sectors and solution providers to develop common views on the extent of the challenges and the actions that require immediate or long term attention.
M Nagarajan, Chief Executive Officer, Surat Smart City
“When we are talking about digital upgradation, it is mandatory to think about the challenges. There are certain inhibiting factors that are responsible for adaptability. We are not able get complete benefits of digitisation because of low digital literacy.”
S Ganesh Kumar, Chief General Manager, Reserve Bank of India
“All of us want to go for digital transaction but we have fear of security. We need to have a customised security framework and offering made available to the customers.”
Sumnesh Joshi, Assistant Director General, UIDAI, Government of India
“Lots of initiatives have been undertaken by the government and the stakeholders in making the Digital India dream a reality. We all are witnessing the change in the ecosystem. In addition to this, digital payments have registered tenfold increase post-demonetisation.”
Technology Presentation by Murtaza Bhatia, Practice Head – Security & Datacenter Services, Dimension Data
“We are walking into a digital age and it is important to change our infrastructure to embrace the digital theme. All applications will have to be integrated with security.”
