Nikhil Kargaonkar, Director-Sales, Arcserve talked about strengthening data against ransomware, and data digitisation in the BFSI space, at the BFSI leadership summit held in Mumbai, organised by Elets Technomedia.
He stated that UPI transactions have reached the 5 billion mark in the month of March 2022, which depicts the extent of digitisation that is happening in the banking space. In fact, the insurance sector is embracing this entire internet era.
He also added that data security and data protection go hand in hand, and even cloud adoption is the trend these days. The challenging fact is how you address the entire digitisation space. Reserve Bank of India, and the Regulatory Development Authority of India clearly understand the issues that the entire sector is facing.
He further stated, that if the server goes down, it can come up and the services could be restored, but if the virtual money goes down then you cannot start the services again. The software that we have from a data protection recovery perspective is what you look for, and the endpoint protection view for the cloud can take our own data centres with guaranteed solutions.
Also Read | Cybersecurity in Banking: Bank hackers, ransomware, and more
“Once you are in the middle of the cyber-attack, you know your data is compromised, but what you’re looking for is peace of mind and genuinely, there is a sleepless night when this happens to you”, he concluded.
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