VP Cyber Security at Motilal Oswal Financial Services Ltd
Looking forward to hear from you on priority. What is your take/comments on the Evolution of digital platforms, disrupting the way of banking – an imperative for change in the BFSI Sector? Do you think it will help faster the movement, increasing transparency or reduce security, increasing cybercrimes? Please elaborateLooking forward to hear from you on priority. What is your take/comments on the Evolution of digital platforms, disrupting the way of banking – an imperative for change in the BFSI Sector? Do you think it will help faster the movement, increasing transparency or reduce security, increasing cybercrimes? Please elaborate
Evolution of digital platforms & disruption is key game changer for the business. It’s really helping the business to spread its reach & acquire new avenues to generate business. In earlier days’ time to market was key latter it became fast to market & now its first to market. The business wants to bring new innovative technologies for the customer & they want it as fast as they can so that they can take benefit of early entrant. These changes are imperative & CISO now have to evolve themselves to handle Digital Risk along with traditional Risks. The role of Digital Risk will evolve over the period of time at a great extent, this role will required to understand business & security in balanced manner to safeguard the organization as the possibilities of increasing Digital Risk.
As digitisation increases in the BFSI sector, the Fraud-as-a-Service is the new normal, are we prepared enough to counter attack?
Fraud as service is in demand specially in BFSI & it’s a major Risk at this point in time, we need to think cyber security as major requirement of the organization & have to invest wisely in various areas of cyber security to reach to mature level to combat any counter attack.
One advise that we should follow to prevent cybercrime in the long run? As we believe prevention is better than cure
Cyber Security has become an integral part of corporates & it’s now no more a topic of Information Technology department but it’s a Topic of Board now. We have to see Cyber Security completely different then Information Security, todays Cyber Security is more to do with defending your organization from sophisticated new age targeted attacks with the help of cutting edge tools & technologies rather than only focusing on policies & procedures. India Inc. is getting prepared from sophisticated cyber-attacks thankfully from the push from Govt & respective regulators which are ensuring that the boards should take interest in cyber security so we are now moving in right directions to become mature in Cyber Security. we should think about proactive cyber defense as our main strategy to become cyber resilient which includes investing in cyber security tools & technologies, adapting new processes & nurturing talents in cyber security.
Your views on The Economic Times BFSI Innovation Tribe and how important do you to feel is the need of organizing such summits, , that we all can collaboratively work towards the common goal
ET BFSI Innovation tribe is really playing a good role for collaboration, the need of hour is having precise information which can be used for multiple purposes & ET BFSI tribe summits are helping to stay updated, current.