Indian banking institutions are leading the charge of digital innovation by integrating social mediums with their banking services. However, Indian banking players face several challenges in terms of security because the financial sector is highly prone to cyber-crimes. BFSI institutions can host their servers in a third-party data center managed by a specialist where they can get the benefit of greater security and enhanced redundancy. Leading data center providers also have multiple levels of security which consist of network security, dedicated firewalls, host security and application security. Financial institutions can store their critical data assets in the cloud, so that they can recover all their data in an event of a disaster.
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