Page 52 - Banking Finance October 2025

ARTICLE

Building Resilient

Banks through

Security Frameworks

like NIST, ITIL, COBIT

Sumit Roy
in Banking (Faculty IT & Digital Banking)
Chief Manager

Union Learning Academy
Union Bank of India
Powai, Mumbai

These frameworks provide structured approaches to managing risks, strengthening governance,
ensuring compliance, and embedding resilience in day-to-day operations. This article explores the
importance of such frameworks in the banking sector, their unique contributions, and how they
complement each other in creating a holistic security posture.

Introduction The Banking Sector's Risk Landscape
The modern banking ecosystem has evolved into a complex, Before delving into specific frameworks, it is essential to
technology-driven environment where speed, convenience, understand why banks need them. Some of the most press-
and digital accessibility define customer expectations. How- ing risks that financial institutions encounter include:
ever, this transformation has also widened the scope of 1. Cybersecurity Threats - Increasing incidents of
vulnerabilities and risks. Banks today face not only traditional phishing, ransomware, and sophisticated state-spon-
operational and credit risks but also sophisticated cyber sored attacks target sensitive customer and financial
threats, compliance challenges, and reputational risks. In data.
such a high-stakes landscape, adopting globally recognized 2. Regulatory Pressure - Banks must adhere to a wide
security and governance frameworks such as the National range of compliance requirements such as RBI guide-
Institute of Standards and Technology (NIST) Cybersecurity lines, GDPR, PCI DSS, and anti-money laundering regu-
Framework, Information Technology Infrastructure Library lations.
(ITIL), and Control Objectives for Information and Related 3. Operational Complexity - With multiple digital chan-
Technologies (COBIT) becomes critical.
nels, third-party vendors, and cross-border operations,
banks operate in highly complex ecosystems.
These frameworks provide structured approaches to man-
4. Customer Trust and Reputation - Any breach or down-
aging risks, strengthening governance, ensuring compliance,
time not only leads to financial loss but can also erode
and embedding resilience in day-to-day operations. This
customer confidence.
article explores the importance of such frameworks in the
banking sector, their unique contributions, and how they 5. Technological Advancements - With the rise of AI,
complement each other in creating a holistic security pos- blockchain, and cloud computing, banks must balance
ture. innovation with robust security practices.

46 | 2025 | OCTOBER | BANKING FINANCE