DSCI hosts its first Financial Security Conference- ‘FinSec Conclave’ in Mumbai

DSCI hosed the first edition of its Financial Security Conclave – FinSec Conclave in Mumbai on 10th and 11th of April. The conference focussed on creating robust cybersecurity & privacy agenda for the BFSI vertical that would, on one hand, spur innovation, create capabilities and on the other hand would ensure a resilient ecosystem.

FinSec facilitated a congregation of decision makers, thought leaders, policymakers, regulators, Fintech innovators from the sector and other associated domains. In the two-day conference, over 50 speakers and 300 participants deliberated on contemporary and emerging technology trends, security and privacy challenges, financial security domain and sharing best practices and learnings.

With 26 sessions, FinSec hosted plenaries, keynotes, roundtable meetings, parallel tracks covering the topics like ‘When Innovation exposes you to Privacy Liabilities’, ‘Securing the future of payments in a connected world’, ‘Implement effective security through integration’, ‘Protect Data at its source’, ‘Ontology of Financial Cyber threats’, ‘Contours, approaches and collaborations to secure digital payment ecosystem’, ‘Innovations in automating cybersecurity’, ‘What we learn from the frauds’ and more.

FinSec also featured deep-dive workshops on topics such as ‘Building a business-driven Financial SOC’, ‘Fraud Management in Finance Industry’, ‘A New Security Paradigm – Threat Hunting’, ‘Data enriched financial products &services’, ‘Fraud Happened: Response, Reaction, and Action’ ‘Securing Mobile Apps & Client Identity in Digital Economy’ and more.

GK Pillai, Chairman, DSCI said “Against the backdrop of increasingly complex and sophisticated cyber-attacks, it is even more important that leaders from financial security domain and security industry collaborate and partner to mitigate the threats. In the first year itself, FinSec Conclave has become a knowledge sharing platform for banking institutions, digital payment organisations, Fintech start-ups, non-banking financial companies.”

He further said, “Boards of Financial companies need to regularly review the state of cyber risks and take action to mitigate and respond from cyber-attacks.”

Debjani Ghosh, President, NASSCOM said “As merchants and consumers become digital-first, India’s payments economy continues to grow from strength-to-strength. With millions of Indians moving online, fintech have catalysed rapid innovation by paving the way for financial inclusion. In this scenario, it is crucial to maintain the integrity of user data and build digital security awareness among citizens. Ultimately, the prime imperative for a successful digital transition will be to develop security infrastructure that is congruent with the pace of change.”

Rama Vedashree, CEO, DSCI said “Amidst the technological flux and potential of digital is the steadfast challenge of ensuring Safety & Security of the BFSI sector at an enterprise and country level.

It is imperative for the BFSI sector to stay hyper-vigilant and evolve its Cyber Security & Privacy agenda to safeguard against the malicious elements that are continually trying to attack the systems and inflict damage, even cripple the economy. The conclave had the rich discussion on several contemporary and emerging business and technology trends that we are witnessing in the domain and its innovation landscape.”

Some of the leading organisation including Visa, Cisco, Cyberbit, and BSA- The Software Alliance, Imperva, V-Key, SANS, Crowdstrike and Klassify have partnered the conference. The Conference brought 18 technology companies and nine start-ups showcasing their innovative product and services at the conference.