Doha: The role of cyber resilience is important for organisations today. It is not only based on the principles of business continuity but extends further to enhance the organisation’s immune system itself, said an official during a webinar held recently.
Doha bank hosted an online event titled ‘Cyber Resilience’ with industry technology & security leaders during which experts shed light on how to enable strong leadership which supports cybersecurity and cyber resilience framework.
Dr. R Seetharaman, Chief Executive Officer, Doha Bank said, “We are in a defining moment, extraordinary set of digital acceleration is taking place across the globe and global growth itself is converging on digital acceleration. We have extra ordinary set of opportunities for betterment of the humanity if we embrace technology and we can even measure and manage the productivity with a different acceleration.”
He noted that International Monetary Fund (IMF) has projected 5.9 percent global economic growth for this year. Speaking about the vaccination Dr. R Seetharaman pointed that as of today the global vaccination is 37 percent, highlighting Qatar itself had to go through challenging circumstances, but they administered well, adding that in economic alignment when it comes to the monetary and fiscal policy there is a tremendous amount of commitment and we have seen the business continuity without much disruptions and it was efficiently managed.
He said, “We have seen technology drives the cost reduction, the methodologies have changed, we have seen the reorganization in terms of business model – corporate or retail, treasury or investment and we have ample opportunities for us to change the business model akin to the risk but how do we map these risks and make sure sustainability is getting accomplished,” he added.
On solution for cyber security, Dr R Seetharaman’s video presentation noted that visibility and intelligence is the solution for cyber security. It said, “Start by building an adaptable cyber defense framework that works for today’s enterprise and understand where the data resides and how it is being used. In a world where everything is connected, performance is equally excellent and reaching perfection, right now you are at central point in the range of tornado of change, fueled by digitization, mobilization, automation.”
Dr R Seetharaman said, “The major risk needs to be recognized and protected against various cybercrimes. Essentially the digital disruption is transforming, and we need to understand the cybersecurity in age of digital transformation.” He concluded by saying it is very important to understand we need to evolve and survive.
Abhik Goswami, Chief Risk Officer, Doha Bank said that a well-established cyber resilience plan allows an organization to absorb internal and external shocks. He said, “Cyber-attacks is a broad term for different kinds of attacks such as hacking, phishing, malware, ransomware, denial of service. In daily lives we face these perils of modern era which is an era of great benefits but also of dangers and vulnerabilities. An era known as age of information where customer data is most precious commodity and social media – the great influencer.”
He noted that data breaches are an ever reality, the threat is real and significant but we can counter it. This is where comes the role of cyber resilience which is the ability of an organization to prepare for and respond to and recover from cyber threats. It is not only based on the principles of business continuity but extends further to enhance the organization’s immune system itself.
“A well-established cyber resilience plan allows an organization to absorb internal and external shocks ensuring continuity of operations by protecting key resources such as systems, data, people and property,” he added.
Ravi Baldev, Manager Systems Engineering Data Protection & Cyber Recovery Division from Dell Technologies; Bharat Raigangar, Head Cybersecurity & Risk Services, Wipro APMEA - India, Middle East & Africa; Amit Roy, Head Cybersecurity Services, Atos - META, Turkey & Africa; and Haider Pasha, Senior Director & Chief Security Officer Emerging Markets, ME & Africa at Palo Alto Networks also participated in the event.
