How tech can used to mitigate exposure to cyber-attacks
The Chief Executive of Stanbic IBTC Holdings Plc, Demola Sogunle says over the past three years, the bank has had to increase its investment in cybersecurity. CNBC Africa’s Esther Awoniyi caught up with him on the side-lines of the second edition of the Art of Technology and discussed the relevance of technology in managing bank’s exposure to cyber-attacks.
Fri, 04 Dec 2020 14:26:16 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Increased investment in cybersecurity: Stanbic IBTC has boosted its cybersecurity investment over the past three years to combat evolving cyber threats and protect sensitive data.
- Private sector's role in fostering tech startups: Sogunle emphasized the significance of private organizations in supporting and nurturing tech startups through initiatives like hackathons and innovation labs.
- Adapting to the future of work: The COVID-19 pandemic has accelerated the shift towards remote work, necessitating investments in broadband infrastructure and digital skills development for long-term readiness.
As the global landscape continues to evolve, the conversation around cybersecurity and technological innovation becomes increasingly vital. In a recent interview with CNBC Africa, the Chief Executive of Stanbic IBTC Holdings Plc, Demola Sogunle, shed light on the bank's proactive approach to mitigating cyber-attacks and embracing tech startups in Nigeria. Over the past three years, Stanbic IBTC has significantly increased its investment in cybersecurity, recognizing the critical need to safeguard sensitive data and financial information from sophisticated threats.
Sogunle highlighted the importance of leveraging the expertise and experience of Standard Bank, the parent company of Stanbic IBTC, to enhance their cybersecurity measures. By tapping into resources from various jurisdictions where the group operates, Stanbic IBTC has been able to strengthen its cybersecurity framework and stay ahead of emerging risks.
The interview also delved into the role of the private sector in nurturing tech startups and fostering innovation in Nigeria. Sogunle emphasized the need for private organizations to actively support and mentor startups, citing initiatives such as hackathons and innovation labs as effective means of engaging young talents and driving technological advancements. With Nigeria's youthful and innovative population, the private sector plays a pivotal role in fostering a vibrant tech ecosystem and positioning the country as a hub for technological innovation.
Looking towards the future of work, Sogunle discussed the profound impact of the COVID-19 pandemic on remote work practices. With a significant portion of Stanbic IBTC's workforce operating remotely, reliable broadband infrastructure and digital capabilities have become indispensable for ensuring business continuity and productivity. Sogunle underscored the importance of continued investment in technology infrastructure and skills development to prepare Nigeria for the evolving demands of the future workforce.
In an era where cyber threats loom large and technological advancements reshape industries, the insights shared by Demola Sogunle highlight the strategic imperatives for businesses in Nigeria to navigate cybersecurity challenges, empower tech startups, and embrace digital transformation for sustained growth and resilience.
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