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Gartner Forecasts Security and Risk Management Spending in India to Grow 12% in 2024

  GenAI-Driven Attacks Require Changes to Application and Data Security Practices and User Monitoring End-user spending on security and risk management (SRM) in India is forecast to total $2.9 billion in 2024, an increase of 12.4% from 2023, according to a new forecast from Gartner, Inc. Indian organizations will continue to increase their security spending through 2024 due to legacy IT modernization using cloud technology, industry demand for digital platforms, updated regulatory environment, and continuous remote/hybrid work. “In 2024, chief information and security officers (CISOs) in India will prioritize their spending on SRM to improve organizational resilience and compliance,” said  Shailendra Upadhyay , Sr Principal at Gartner. “With the introduction of stringent government measures mandating security breach reporting and digital  data protection , CISOs are facing heightened responsibility in safeguarding critical assets against evolving cyber threats.” Gartner a...
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Banking on Mobile Services


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Published on Tuesday, 03 July 2012 12:09


Pakistan's Allied Bank is deploying a mobile commerce solution from Sybase 365 to boost its mobile financial services. The deployment will enable the bank to integrate mobile banking capabilities into its current banking products, enabling it to tap into a large base of potential customers.





There are approximately 130 million mobile users in Pakistan - particularly in remote rural areas where access to banks, ATMs and the Internet remains limited. "We have been looking for a service provider with global recognition for launching mobile banking services," says Zia Ijaz, group chief commercial and retail banking group at Allied Bank.



"With many successful mobile banking deployments in its portfolio, Sybase 365 is the right partner to help us implement a mobile banking strategy to tap into the unbanked and underbanked population of Pakistan," says Ijaz. Sybase 365, a subsidiary of Sybase, will team up with Abacus Consulting for the deployment at the Allied Bank.



"Pakistan is the fifth largest mobile phone market in Asia and one of the fastest developing markets for branchless banking in the world. The proliferation of mobile banking continues to help vast communities and fuelling the local economy," says Matthew Talbot, senior vice president of mCommerce, Sybase 365.



"Mobile is emerging as the most important banking channel for customers.” In addition to Allied Bank, Sybase 365 will also be launching mobile banking services for Habib Bank Limited in Pakistan and ONE Bank Limited in Bangladesh.                      

Pakistan is considered one of the fastest developing markets for branchless banking in the world. This is made possible due to clear regulations and a regulator that is willing to listen to the private sector and provide incentives for branchless banking. According to a 2011 CGAP report, branchless banking regulation was first introduced in Pakistan in April 2008.

The State Bank of Pakistan (SBP) has played a critical role in promoting branchless banking in the country. The government is further encouraging the move by piloting the use of branchless banking to distribute government payments.

By Angela Sutherland

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