Building Trust With Robust Security: Future of FintechsRazorpay CISO Hilal Lone on Sharing Intelligence, Strategies to Deter Attackers
The threat posed by cybercriminals and fraudsters creates shared risks across the financial services industry including fintech companies. In fact, fintech has one of the largest attack surfaces in the industry. But fintech firms can balance rapid innovation with security and work with each other and governments to repel attackers, said Razorpay CISO Hilal Lone.
Razorpay has invested heavily in cybersecurity and works with other fintechs and government agencies in sharing information and techniques. "It's really important for the fintech industry to coordinate with each other and share intelligence when they can, and that's what's happened," Lone said.
Security does not need to be an impediment to the business, he said.
"How we make sure that security does not impede the agility is to make sure it's part of the process and the release cycles that you have," he said. "We want to make sure security is not seen as something that is going to be a blocker, but an enabler. You will see how it makes products much better, stronger and resilient."
In this video interview with Information Security Media Group at RSA Conference 2023, Lone also discusses:
- Incorporating security by design and privacy by design in the software development life cycle;
- The impact of the regulatory environment and how to respond;
- Advice for CISOs on working with IT and the business.
Lone has more than 15 years of experience in cybersecurity. Prior to joining Razorpay, he held several leadership positions and was the CISO of Dream11, one of India's largest gaming platforms.