HDFC Bank is taking steps to improve risk management and security in response to increasing threats like phishing attacks and more mobile users. It is partnering with RSA Security to provide more secure transactions for customers. The bank is also implementing adaptive risk modeling, access controls, privacy and data integrity measures to authenticate and authorize users securely. Moving some services to cloud computing aims to provide convenient online access while maintaining security.

1. HDFC Bank
Business Risk Management
Submitted by
• Ashish Anand
• Amey Mhasalkar
• Avisheke Barua
• Kunal Singh

2. Suitability of steps in Risk Management
Privacy in Banking Industry
Authentication RBI
HDFC Bank
Guidelines
Authorization
Access
Adaptive Risk
controls for
Modeling
Privacy data
Level of
Integrity Application
intervention
Software
α risk score
Non-repudiation
Smart Card & Back up data
Biometrics systems
• Money lost in phishing attacks
• More no of mobile users increasing so a higher secure system necessary to be in place
• Signing up with security provider RSA to provide a secure transaction to the customers
• Worries of making the customer’s job tedious by transactions

3. RSA Security customer interface and
Security
Combination Benefit of pay Just the issue
Cooling period Using cloud Issue of
of validation for use so a of building a
of 24 hrs for computing securing the
and saving upon Broadband
verification services data
authentication the revenues connection
• More convenience on the part of bank
• A grater revenue build up in a long term perspective because of pay for use policy
• The online customers had reached a critical mass so the security systems were necessary
• The onsite model may also be a higher fixed investment for the firm and 100% utilization
is also not assured of
• The issue before hand was to provide secure access to all or active users as they had the
inconvenience of travelling to the bank for activation
• Fear of loosing the customer base