Consulting Principal Philip B. Casanova (PBC) was a panelist at the BusinessWorld Insights webinar last December. With the theme, Safe Banking: Data Security on Online Payment Services, the webinar discussed addressing security issues in digital finance and consumer tips for safe online transactions. Other panelists included representatives from financial services and cybersecurity companies.
The panelists spoke on how the pandemic caused a surge in digital transactions and the rise in cybersecurity attacks and breaches. PBC explained that financial institutions must maintain consumer trust while providing convenience and better service and security. He also emphasized that financial institutions should not only view cybersecurity as a technical issue but as an organizational issue that involves all stakeholders – employees, customers, and platform providers.