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Security Watch India (SWI) successfully organized the 4th edition of the Secure Banking Conclave 2016 on May 17, 2016, at The Lalit Mumbai
Jul 07, 2016
Publisher: Safe Secure
Security Watch India (SWI) sucessfully organized the 4th edition of the Secure Banking Conclave 2016 on May 17, 2016, at The Lalit Mumbai.
The theme of the event was “Mobile Payments and Cyber Security”.
The one day conference and exhibition centered on the revolution in banking that is being brought about by the extensive penetration of mobile devices in India.
This year’s conference looked at various issues like Digital Banking Trends and Mobile Innovations, Identity, Security & Fraud Prevention, Mobile and Digital Payments Security, Authentication and Cyber Security.
Some of the eminent speakers at the conclave were
Mr. A.P. Hota, Managing Director and CEO, National Payment
Corporation of India (NPCI), and Chairman, Mobile Payment
Forum of India (MPFI); Mr. Dhananjay Kamlakar, IPS,
Joint Commissioner (Economic Offence Wing), Mumbai;
Gen. J.J. Singh, Chairman Advisory Board, SWI;
Mr. Arup Patnaik, IPS (Retd), Member SWI Advisory Board,
and Former DGP, Maharashtra Police; and Mr Maroof Raza,
TV Commentator, Columnist and Strategic Security Expert.
The Indian banking industry has been witnessing some major metamorphosis over the last few years which have been to a great extent made possible by India’s mobile revolution.
Today, India’s one billion plus mobile connections is playing a key role in taking banking to the doorsteps of the unbanked.
In other words the mobile phone is becoming the last mile connectivity to make financial products available to every Indian.
The emergence of mobile payment as a major vertical has been vindicated by the decision of the RBI to give license to 11 entities to start a new category of differentiated banking namely payment banking. However, proliferation of internet based payments and ecommerce has also brought with it the associated issues related to cyber security.
Securing the payment gateways from unscrupulous hackers has to be an indispensable priority of the bankers and mobile telephone service providers in order to gain the confidence of users.
While addressing the mobile payments session, Mr. Hota, MD and CEO, NPCI, said: "At NPCI, more than one-third of the technology is spent on security as it is one of the most important verticals today. Cyber security risk is the most important risk today, it is like a war."
Mr. Kamlakar noted that we aim for a card-based society from a cashless society, but due to the vulnerability of the risk involved, the society still prefers cash over card. So, there is still a robust change that is needed. The conclave was supported by the Mobile Payment Forum of India. NPCI and Deloitte were the knowledge partners.
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