17 Jun

27th June 2020 – Cyber Security

Financial services undoubtedly are going through major transition in terms of innovation and new evolving business models. Emergence of Fintechs & Open Banking have changed the way banking services are consumed through better collaboration between banking / financial institutions and Fintechs/Startups. Banks and financial institutions have also been pushing adoption of digitization in massive way across all financial services. Even non-financial players, be it big techs like Google or Apple; startups like Uber or Swiggy are entering into financial services.

In parallel, there have been emergence of new technologies such as AI/ML, Robotics Process Automation, Internet of Things, APIfication and their widespread adoption across financial segment. While, all have contributed immensely to business benefits and customer experience, it has opened up plethora of cyber security  risks and challenges.

Cyber Security concerns in Financial institutions have always been the prime focus area of deliberations. The grave consequences of cyber-crimes have made Financial institutions to tighten their cyber security measures realigning new security measures over time. Cyber Security has also become key focus area for regulators to ensure high level compliance and protection.

Cyber Security in financial services is specifically designed program to deep dive into various dimensions of cyber security threats and mitigation measures.

This program is designed to

  • Understand Cyber Security emerging threats and vectors.
  • Deep-dive into impact of Cyber Security on digital programs within bank or financial institutions.
  • Walk through Cyber Security risks for business model of partnership between banks & Fintechs/startups.
  • Design Cyber Security framework to manage both innovation & risks.
  • Learn different financial risks of weak design in Application Layer.
  • Understand security risks as part of emerging technologies and best practices to manage.
  • Build sustainable security management program especially for Fintechs & startups.
  • Learn about ecosystem participants to collaborate on cyber security.
Target SegmentBanks
NBFCs
Insurance & Security Firms
Fintechs
Startups
Neo Banks
Target AudienceFounders/Cofounders
Mid to Senior Management
Chief Digital Officer/ Digital Banking/API Banking /
Open Bank Managers
Product Managers or Product Heads
Chief Technology Officers/Head-IT/Technology Leads
Chief Information Security Officer
Chief Risk Officers

Program Structure

Topic Coverage Details
Cyber Security FundamentalsBasics of Cyber Security & components

Importance of Cyber Security framework for Financial services

Emerging Cyber Threat landscape from cyber hacktivism to ransomware

Overview on Global Threat Report		Learn basics of IT Security on concept of CIA (Confidentiality-Integrity-Availability)

Understand importance of cyber security and changing risk profile in current age of financial services with emergence of Fintechs & adoption of Open Banking

Peek into new emerging threats and its working modalities, risks to financial services especially digital

payments and digital banking; and Fintech operations
Role of Emerging Technologies for Cyber SecurityUnderstand Opening of new threats due to adoption of new age technologies

Role of new age technologies in building control layer		Deep dive into role of new age technologies such as AI/ML, Robotics Process Automation, Internet of Things, Blockchain on opening of new threats as well as providing new control layer for Cyber Security
Security as part of Micro Services ArchitectureUnderstand transition of application development from monolithic to Microservices Architecture

Security framework and control layer for Micro services architecture and containerization model

Security risks and mitigation for Open Source adoption, Agile way of development

Security mechanism at API layer and communication		World of application development has moved from monolithic to Micro Services architecture and entire security model

Understand approach to security in new age application development and management

Look into perspective of Banks for their expectations in partnership model with Fintechs & Startups and security controls at Partner’s end
Defence in Depth Model for Next Generation Cyber Security FrameworkUnderstand various layer of security

Basic of concept of Defence in Depth model

Controls framework to build Defence in Depth in age of Digitization and Cloud computing

Develop resilience layer as part of defence in depth		Learn basics of controls layer across different technology layer with bank and process of due diligence to evaluate right set of controls for each layer

Understand various options available for CISO to evaluate a new cyber security framework adoption

Evolving a Cyber Crisis Management Plan
Regulatory overview of Cyber SecurityUnderstand regulatory framework for Cyber Security In India esp RBI guidelines on cyber security for financial Institutions

Data Protection Bill/GDPR

Role of Compliance framework such as PCI-DSS, NIST		Understand various regulatory requirements specified to deal with Cyber Security

Go through basics of Data Protection bill and its impact on partnership model of Banks and Fintechs on exchange of personal data

Importance of Cyber Security in age of digitization and Fintechs:

  • Cyber Security is on top of the investor’s mind and CEO/founder’s KRAs
  • More and wider adoption of financial services especially in unbanked areas
  • New innovation in Financial services across payments, lending and other segments
  • More and more adoption of cloud platform
  • Opening of banking ecosystem and emergence of API enabled business models
  • Cyber Security is more strategic decision now, then operational

Focus areas of session to benefits participants in Program

  • Managing cyber security measures at both ends of Fintechs & Banks for when they partner for a collaborative product or service
  • Cyber Security and risk management framework providing a secured infrastructure while ensuring a seamless customer experience
  • Alignment of Risk & Compliance in the entire process of building business models and partnerships in age of emerging cyber security threats
  • Cyber Security layer to be created around mobility as well as cloud infrastructure with the use of automation and artificial intelligence
  • Use of technology in enhancing the protection of personal data against cyber security theft or compromise
SAMEER SINGH JAINI
Sameer is a digital strategist focusing on removing friction across Banks, NBFCs, Fintechs and Software providers. He is working with Financial Institutions for establishing their digital strategy in alignment with business strategy. The digital strategy would generate value through increase in digital footprint / revenues / cross-sell. This would also reduce costs through productivity gains, automation and process realignment. Digital initiatives as part of strategy would include loan origination, Cross sell platform, Omnichannel platform, Analytics & AI, Mobility and Fintech tie-ups.Before starting his entrepreneurial journey, he was the Chief Technology Officer at DCB Bank. He was responsible for driving innovation and technology transformation across Digital Business, Core platform and Infrastructure. With more than 20 years of experience, Sameer has delivered high impact initiatives in DCB Bank like new lending and origination platforms, multiple mobility platforms, Aadhaar Based ATM, payments platforms, data centre migration, Infrastructure upgrade etc. Before joining DCB Bank, Sameer worked with Wipro as the Program Director and was responsible for driving implementation of Bhartiya Mahila Bank. Previously, Sameer worked with Infosys where he served from 2005 to 2012. During this period, he had managed multi-million dollar Finacle transformational assignments spanning across countries and cultures, like Core Banking Transformations in US & Czech Republic, Multi-country Direct banking roll-outs in Europe, Digital Implementation in Israel etc. He was also responsible for setting up pre-sales and implementation digital practice including Internet Banking and Mobility in Finacle. Prior to Infosys, he was part of core team responsible for launch of Kotak Mahindra Bank. He had led implementations across areas like Digital, Cash management, Treasury, Core Banking, Capital Market etc.

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