Tech Risks: Older Technologies vs Newer Technologies
Banking Frontiers|September 2024
Both older (legacy) and newer technologies come with their own sets of risks. Knowing the details of each is vital:
Tech Risks: Older Technologies vs Newer Technologies

In today’s rapidly evolving technological landscape, understanding the risks associated with both older and newer technologies is crucial for maintaining robust cybersecurity measures.

OLDER TECHNOLOGIES

Older technologies are often times a challenge due to the lack of support, absence of security patches and (sometimes) reduced knowledge in the market to keep it running, observes Spain based Flavio Carvalho, CISO at Iberia at Crédit Agricole Personal Finance and Mobility.

Hemant Kumar, CISO at Bajaj Auto Credit explains that older technologies often lack the robust security features of modern systems. They may not receive regular updates or patches, making them more susceptible to exploits and breaches. As technology advances, older systems may also struggle to integrate with newer hardware or software. This can lead to inefficiencies and additional costs for maintaining or updating these systems.

He adds that manufacturers may discontinue support for older technologies, making it difficult to find replacement parts, skilled technicians, or updates. This can also affect compliance with regulatory standards. Older technologies may not be able to handle current demands or workloads, leading to reduced performance and productivity. Maintaining and repairing outdated technology can be costly and timeconsuming. These systems might require specialized knowledge or parts that are no longer readily available.

Bu hikaye Banking Frontiers dergisinin September 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Banking Frontiers dergisinin September 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BANKING FRONTIERS DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Finance gears up for festivities
Banking Frontiers

Finance gears up for festivities

BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:

time-read
4 dak  |
October 2024
Non-cash transactions can touch a phenomenal level by 2028
Banking Frontiers

Non-cash transactions can touch a phenomenal level by 2028

Capgemini Research Institute’s World Payments Report 2025 highlights the era of account-to-account an instant payments:

time-read
3 dak  |
October 2024
The Confluence of Artificial Intelligence and Cybersecurity: AI as the Game Changer
Banking Frontiers

The Confluence of Artificial Intelligence and Cybersecurity: AI as the Game Changer

In an increasingly interconnected world, safeguarding our digital assets has become paramount. Enter the dynamic duo: Cyber security and Artificial Intelligence (AI).

time-read
3 dak  |
October 2024
A new trinity in digital lending space
Banking Frontiers

A new trinity in digital lending space

Three platforms in the lending space are poised to change the way lenders offer credit and borrowers access funds in India:

time-read
4 dak  |
October 2024
Finance gears up for festivities
Banking Frontiers

Finance gears up for festivities

BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:

time-read
4 dak  |
October 2024
Small MFI, International Engagements
Banking Frontiers

Small MFI, International Engagements

Mitrata Inclusive Financial Services in the midst of transformation growth

time-read
3 dak  |
October 2024
MFIs: Big Impact Big Changes,
Banking Frontiers

MFIs: Big Impact Big Changes,

Even as MFIs are fueling economic growth for the underprivileged, what is interesting is that they are transforming themselves in areas like HR, technology, funding, leadership, collections, and more. Banking Frontiers presents the initiatives and initiatives at 9 such organizations:

time-read
3 dak  |
October 2024
Climate Risk Forum for CROS
Banking Frontiers

Climate Risk Forum for CROS

Excerpts from a discussion on shaping the future of climate change resilience in India:

time-read
3 dak  |
October 2024
Seamless Supply Chain Finance
Banking Frontiers

Seamless Supply Chain Finance

Deep insights emerge from this fireside chat at NBFC's Tomorrow Conclave.

time-read
6 dak  |
October 2024
Star Health sees strong demand from the IT sector
Banking Frontiers

Star Health sees strong demand from the IT sector

Biju Menon, Chief Business Officer at Star Health Insurance, looks at the evolution of employee health insurance from multiple perspectives:

time-read
4 dak  |
October 2024