The record
Written by software from the 1 report below. The points restate them; where one says why it matters, that is Prism's reading, not a reported fact.
- Banks are facing increased threats as technology becomes deeply embedded in core financial functions like payments, credit assessment, and regulatory reporting.
- Outages or cybersecurity failures at a single institution or third-party provider can now prevent customers from accessing their money.
- Management must treat technology resilience as a critical enterprise risk equivalent to balance-sheet stability.
- Oversight of artificial intelligence deployments and third-party dependencies is essential to maintain financial stability.
Who said what3
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Jain
3 quotes · 1 outlet
“Technology is no longer solely an enabler of banking. Technology architecture is becoming the risk architecture of a bank”
In the article
…“ Technology is no longer solely an enabler of banking. Technology architecture is becoming the risk architecture of a bank ,” Jain said at the SBI Banking Conclave. Also read: Sunrise Sectors: SBI chief Setty sees next wave of global investment taking shape A bank may have adequate capital and liquidity, sound governance and a strong…
“For customers, a technology outage is not simply a system issue; it is an inability to access their own money or complete an urgent financial transaction”
In the article
…lessons from such incidents extend beyond cybersecurity, he said, requiring banks to focus on capacity planning, legacy-system modernisation, change management, disaster recovery and third-party resilience. “ For customers, a technology outage is not simply a system issue; it is an inability to access their own money or complete an urgent financial transaction ,” Jain said. The scale of India's digital payments ecosystem makes resilience increasingly important. UPI processed 24.9 billion transactions worth approximately Rs 30 lakh crore in August 2026, according to Jain. He…
Coverage1
All filed from India
Named India · CrowdStrike · UPI · Jain · PK Mishra · Setty · State Bank of India
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