The BFSI space is now adopting financial technology faster than ever, banking and finance service industries and their back-end operations have now become digital. With a digital-first mentality, the complete industry is aboard the digitalization concept, the mobile-first approach is giving a fillip to the fintech industry. Thus with the use of upcoming technology, the vital and sensitive data of banking and financial systems are much more prone to attacks, the attackers are on a constant lookout for their next prey for malicious cyber-attacks, phishing, malware, and bots.
According to Deloitte India report, the banking industry is the most targeted segment, with the sector faced nearly 22% of cybersecurity attacks in India in 2018-19 also in the Financial Stability Report (FSR), the Reserve Bank of India (RBI) pointed out that the banking industry remains a target choice for cyberattacks, especially after the Covid-19 pandemic lockdown, with an increasing number incidents ofcyber threats. Reserve Bank of India has recently updated the guidelines on Cyber Security Framework, where it has highlighted the urgent need to put in place a robust cyber security/resilientframework to ensure adequate cyber-security preparedness among banks on a continuous basis.
And this is where INSIGHT BUSINESS MACHINES comes into play as a partner that can help you furnish compliance needs, offer robust and round the clock scrutiny, find and remove vulnerabilities. We ensure that we help you solve all your pain point right from fulfilling the IT guidelines issued by the RBI to Non-compliance with KYC/Anti-Money Laundering norms as well as the IRDAI (Insurance Regulatory and Development Authority of India) guidelines for the insurance sector. We help you resolving datacentre complexity, data storage, network management, cloud management, 24×7 uptime & monitoring as well as regulation on cybersecurity by SEBI (Securities and Exchange Board of India).
Furthermore, we assist you in securing your major four layers i.e. data, application, operating system and network layer to ensure we shield your cyberspace. We conduct periodic Security Audits like VAPT ensuring protections against cybercrime and security loopholes for its in-depth assessment of a company’s IT infrastructure and personnel roles. All in all, we are your one-stop solution for effective cyber crisis management and services.