BankTech Asia 2018 - Manila Series
Registration of BankTech Asia 2020 - Technology Risk Management Series
Opening Remarks by Mr. Selva Nagappan, Managing Director, BankTech Asia 2020
Combat Risk vs Technology
Globalisation has led to increased spending in cybersecurity. McKinsey & Co. stated that cybersecurity accounts for 10% of total IT spending which some experts are saying that it is not enough as banks are 300 times more vulnerable to cyber threats than any other sector. The cybersecurity risks faced by a bank has only increased with the rise of digital services directly to customers. In this session, the speaker focuses on:
- How are risk managers in banks managing the coordination of IT risk management across the different sectors of banking with implementation of new innovative online services?
- With the new normal of Working From Home, if there is any cyber threat detected, are banks ready with the tools to combat and stop the threats?
Panel Discussion: Next Generation Operational Risk Changing Everything!
A top priority of any bank is handling operational risk. According to Dr. Tom Huertas from Ernst & Young, over the past ten years the losses tied to operational risks have soared. Organizations are now looking to work together to forge partnerships between the operational risk sector in banks and technological functions to allow banks to adopt these risk management technologies faster than ever. Banks need to ensure that their services are top par to protect themselves from cyber terrorists and protect the safety of a bank. In this session, the panelists will focus on:
- The importance of technology risk management in this era of digitization.
- With the implementation of real-time risk monitoring, banks have been less prone to cyber attacks. However, are these real-time risk monitoring able to predict cyber threats with the current technology advancements?
Morning Refreshments & Tour of Exhibition Hall
Bringing the Big Guns (Technology) To Take Out An Unprecedented Threat (COVID-19)
Criminals are creatures of opportunity and the recent COVID-19 outbreak is just another chance for them to strike! Through a research by McKinsey & Co., they found that banks are ensuring that appropriate controls are in place in all altered workplace settings. The trade-offs between contingency measures and risk appetite are also well considered. In this session, the speaker will focus on:
- What systems have banks created to make sure client data and other transactions are handled well while working out of the bank?
- The chances of fraud that are not traceable while working away from the bank is high. What strategies did banks use to make sure fraud did not occur?
Panel discussion: Clients vs Shift in Working Patterns by Banks
Financial services is one of the industries that heavily rely on brick-and-mortar space. Clients are the main source of revenue for a bank and fulfilling their needs are very important to retain them. In this session, the panelists will discuss on:
- The acceptance of clients to work in digital modes with banks such as providing digitally signed documents rather than documents with wet signatures.
- The risk of non-timely actions where real time operations are highly dependent on time, sensitive values and high connectivity systems.
Cryptography Breaking The Walls Of Mobile Banking
Mobile banking has changed how banking is seen and risk managers handle risk. Operating systems for android are usually more prone to being attacked by default. Applications require additional security mechanisms in order to sufficiently protect the users from malwares. Statista states that total digital payments in Malaysia is expected to grow by 10.8% annually, reaching USD $ 17 billion by 2023! In this session, the speaker will focus on:
- With the sudden rise of mobile banking usage, how are banks making sure that the existing and current cyber threats systems are able to support all the new applicants?
- If anytime mobile banking is hacked, are Malaysian banks ready with a backup plan to save their consumers from such threats?
Networking Luncheon & Tour to Exhibition Hall
Being Cyber Resilient To Ride The Wave
Banks are bombarded by cyber attacks and security threats on a regular basis, so much so that they are the norm in the industry now. The constant threat of cyber attacks makes it vital that banks develop and implement a cyber resilience strategy that covers a wide range of tools and initiatives. In this session, the speaker will focus on how authorities can and should implement cyber resilience and the initiatives along with capabilities needed to deliver it.
Panel Discussion: Stopping Money Laundering In Its Tracks!
The person that said “Crime Doesn’t Pay” was probably an expert Chief Risk Officer that handled the Anti Money Laundering department of a bank. Criminals are always trying to find ways to ‘wash’ the money they make, be it from a car wash or a government initiative. On 1 January 2020, Bank Negara came up with an edited anti money laundering guideline that states areas of higher risk are subjected to enhanced controls to ensure criminal activities are avoided and taken down. In this session, the panelists will focus on:
- How are banks dealing with the issues that come with money laundering that are ultimately improving the banking system?
- What are the criteria of transactions that are flagged by banks for further detailed checking and how are banks responding to it?
Evening Refreshments & Tour to Exhibition Hall
Next Step Goes On The Hybrid Multi-cloud
Malaysia is always right behind the latest trend, in this case it is hybrid multi-cloud computing. According to research, about 60% of financial services expect their banking environment to adopt multi-cloud to be used on both on-premises and externally hosted cloud infrastructures . A hybrid model in banking would mean banks could easily carry out a full range of security activities by giving the user a multitude of services and tools which will help banks to handle constant evaluations. In this session, the speaker will focus on:
- What does the future of banking security look like with the use of the hybrid multi-cloud?
- What steps can banks take to ensure their data is secure and the bank thrives with the use of hybrid multi-cloud technology?
Panel Discussion: The Cyber Threat Intelligence
Handling cyber threats have gotten a lot tougher than it was 10 years ago. Banks are focusing a lot more resources to cyber threat intelligence to handle any threat before it is too late. Criminals are using more sophisticated methods to commit fraud without detection. According to a survey carried out by Accenture, the banking sector is at risk of losing USD $347 billion in just the next 5 years. In this session, the panelists will discuss:
- How are banks using cyber threat intelligence to protect their clients from falling victim to fraud?
- What does the cyber threat intelligence of the future banking landscape look like?