Security related visibility tools will be game changers, says Yes Bank CISO Rajesh Thapar

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The wave of digitisation has metamorphosed banking into an operational model that is more interactive and open, having more mediums to exchange information (Internet, mobile, APIs, etc) vis-a-vis before when the physical branches were more prevalent.

In the current scheme of operations, when digitisation is picking pace, identity theft is the most prominent reason of most of the breaches in the recent past and thus, managing identity related aspects is of paramount importance, be it the identity of the host, server, IP address or even the device.

Rising cases of identity based attacks
Hitherto, the identity of the person was a natural authentication, because the transactions were happening in the branch. “With digitisation, it is very important to authenticate the sender of the traffic first, to establish if the person or the interfacing infrastructure or application component is the same as it claims to be. As organisations continue to find more value in digitisation, several novel ways are being explored to tackle the issue of these impending threats while balancing the ‘openness’ and seamless nature of conducting communication and business. Identity validation and…

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