Introduction The Bharat BFSI sector is navigating a complex regulatory landscape, with stringent requirements for data protection and privacy. Hardware Security Modules (HSMs) are crucial for securing cryptographic keys and ensuring compliance, but they can be challenging to implement and integrate…
Four Best Practices for Test Data Management in the Banking Sector
While managing test data may not be as exciting as what financial institutions can do with analytics, poorly managed test data holds an existential risk. Imagine a rare bug that failed to be uncovered during testing—something that reported a balance of…
Ensuring Consumer Data Privacy in Financial Services
It used to be—even just a few years ago—that consumer advocacy groups were complaining that legislation had not “caught up” with technology, and that huge data privacy gaps existed. But today, gaps in data privacy regulation are only half of the…
SOX Compliance and Data Privacy: What Companies Need to Know
The Sarbanes-Oxley Act (SOX) was passed by the United States Congress in 2002 to protect the public from fraud by business entities such as corporations. The purpose of this act is to increase transparency in financial reporting with a formal system…
Data Security Challenges in Financial Service Industry
The industry most targeted by cybercriminals is the financial services industry. Because of the sheer volume of sensitive financial data carried by this industry, it serves as a hotspot for cyberattacks. 47.5% of financial institutions were breached in the past year,…