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The Indian Cyber Crime Coordination Centre (I4C), in collaboration with the Reserve Bank of India (RBI) and FinTech SRO (FACE), has organised a cybersecurity awareness session for leading banks and fintech companies.
The session focused on emerging cyber threats, security risks associated with payout application programming interfaces (APIs) and measures to prevent cyberattacks on financial systems. More than 400 participants attended the session, reflecting broad participation from the banking and fintech sectors.
What Was Discussed During the Cybersecurity Session?
The session brought together representatives of leading banks and financial technology companies to discuss cybersecurity challenges affecting India’s financial sector.
According to an official communication from I4C, the discussions covered cyber threats facing financial institutions, vulnerabilities associated with payout APIs and preventive measures against cyberattacks. Payout APIs were a specific area of concern during the session, highlighting the importance of securing the technology connections used by financial service providers.
The meeting provided an opportunity for participating institutions to examine risks associated with these systems and discuss ways to strengthen protection against cyber threats. The programme focused on cybersecurity awareness and prevention within an increasingly interconnected financial services environment.
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Why Were Banks and Fintech Companies Brought Together?
The initiative involved I4C, the RBI and FinTech SRO (FACE), bringing together organisations associated with cybercrime coordination, banking regulation and the financial technology sector. The participation of banks and fintech companies placed cybersecurity risks affecting financial services at the centre of the discussions. By specifically addressing payout APIs, the session highlighted an area of technology shared by various financial institutions and service providers.
The discussions also covered ways to prevent cyberattacks, indicating an emphasis on understanding potential security risks and strengthening defensive measures. The involvement of more than 400 participants demonstrated the scale of engagement in the joint initiative.
How Does the Initiative Support Financial Sector Cybersecurity?
The session forms part of efforts by the participating organisations to strengthen cybersecurity awareness across India’s financial sector. I4C described the programme as an initiative aimed at improving cybersecurity among banks and fintech companies.
The discussion of cyber threats and payout API risks brought attention to the importance of protecting digital financial systems against malicious activity. The collaboration also provided a common platform for financial institutions and fintech representatives to engage on cybersecurity concerns. With banks and fintech companies participating alongside the RBI, I4C and FACE, the session emphasised coordinated attention to cyber threats and preventive security measures.
The initiative underscores the importance of continued engagement between financial institutions and cybersecurity stakeholders as they work to protect digital financial services.
