IT, today is one of the quintessential aspects taken up and adopted in almost every field of operation, especially in banking, states Rohit Shukla, Dy General Manager (Security) & Chief Security Officer (CSO), IDBI Bank Ltd, while speaking with Arpit Gupta of Elets News Network (ENN)
Please elaborate to us your role as a CSO of a renowned bank like IDBI.
I am primarily performing the role of Chief Security Officer (CSO) and was also abreast with Information Security. Now we do have someone who takes care of Information Security also. The role broadly/primarily entails the following:
- As the head of Banks Security Function, to conceptualise, plan the strategy, to implement security resources and to maintain it at high level of functional efficiency at all times, being a sensitive banking security function.
- Also to plan, implement, training, discipline, and morale of bank’s security staff.
How do you perceive IT in banking in the years to come?
IT, today is one of the quintessential aspects taken up and adopted in almost every field of operation. Needless to say, banking adopted it to the highest concern. One has to appreciate that banking has now become a basic human need of the masses, and is a reliable tool for disbursement of all Central/State Governments mass schemes to the citizens of this country. IT is already largely driven by technology, which is seen as getting more and more intensely driven in the days to come.
Is this factor a challenge to the development in the banking sector? Tier II and III cities, by and large, have smaller offices and branches of the bank. Since most banks are riding on the banking software Finacle, a platform which provides the Core Banking Solution (CBS) system for most banks. We would be glad to announce that all branches and sub-offices of the banks are upgraded to the same technology platform as the corporate centre.
What according to you are the major security and risk management concerns for a banking institution today?
Banking itself being a high-risk operation, dealing in cash and valuables in lockers, besides ATMs invites a lot of risk inherently. Risk management concerns are as follows:
- Physical guarding and securing of all assets, cash, lockers and customers banking interests at all times
- Threat of frauds, burglary, spam, phishing, and other online frauds and deceptions
- Guarding cash in transit and at Currency Chests
What measures do you have to counter mobile banking and internet banking risks to enhance banking security to customers?
Broad measures to combat risks are:
- Frequent intimation to customers by emails and SMS to increase their awareness of potential threats
- Intensive usage of passwords, PIN numbers, biometric access and being alert against spam, phishing, etc
- Having strong and viable online security systems and checks and balances
As a bank you can educate your customers, but they have to take certain steps to protect themselves. How well are they protecting themselves from the threats that you see in the marketplace?
Fortunately, IDBI Bank inherently had a strong system of internal and external checks and balances in place as a culture. The same is imbibed and inculcated in the customers. The bank has not had any major issues on this account. The customers are constantly sent SMS and email alerts etc.
Banking has now become a basic need of the masses, and is a reliable tool for disbursement of all Central/State Governments mass schemes for the citizens of this country
Please share with us any security enhancement plans and measures and pipelines from your institution.
Our security enhancement plans broadly covers the following:
- Setting up of security command centres, which constantly track all activities at ATMs and branches and evaluate potential threats etc
- Engaging mobile quick reaction teams for human response
- Deploying state-of-the-art security electronics viz. CCTVs, DFMDs, SHHMDs, Access Control Systems
- Utilising RFID technology and its tags