With the digitalization of banking landscape & functions most of the conventional banking operations are now performed digitally , including Core banking, Net- Banking, Mobile Banking, etc…
Banks need to specially invest in digital and cybersecurity due to the fact that they do daily business involving big data like customers personal information, records, financials, account number, etc…
This acts as a gold mine for any entity in the banking sector and also acts as a prime target for cyberattacks, identity thefts, disruptions like DDoS attacks, server hacking etc; resulting in cybercriminals helping themselves siphoning off huge amounts of money.
In order to safeguard its invaluable data mine a banking organization must have a robust & effective security infrastructure & framework in place. So as to continue & protect its business & intellectual property from falling in the wrong hands.