Protecting Bank Customer Data Throughout the Life CycleBank CISO Venugopal Parameswara Discusses the Top Privacy Considerations
Privacy protections must be important considerations throughout the life cycle and in all touchpoints involving customer data collected and used by financial institutions such as Equitas Small Finance Bank, says Venugopal Parameswara, the institution's CISO.
Safeguards should be applied and upheld from the point when the bank solicits a potential new customer and onboards a new client to when an individual makes various changes over time to the kinds of bank services and products consumed, he said.
"Collecting financial and personal information, storing it securely, processing it and ensuring it is only accessed in a secure manner without having any breaches is very critical for us," he said.
In this video interview with Information Security Media Group at RSA Conference 2023, Parameswara also discusses:
- Automating data discovery and classification;
- Data minimization challenges;
- Other critical data privacy considerations.
Parameswara leads cybersecurity programs, statutory and regulatory compliance and certification programs. He has nearly 25 years of experience in information security, cybersecurity, auditing, security governance and compliance program management, threat intelligence, business continuity, and disaster recovery.