 "banks, loans, credit, NBFC, HFC")
Digital lenders are bumping up spending on technology to prevent cybercrimes and protect customer data as their services become popular, 'Financial Express' (FE) reported.
The Reserve Bank of India (RBI), in guidelines issued in 2022, asked banks and non-banking lenders to ensure compliance with various technology standards related to cybersecurity, the report added.
“Data will be the new gold for next generation. So, it is super important to ensure that it is protected because now people are more conscious about data sharing,” Credit Wise Capital founder Aalesh Avlani was quoted as saying in the FE report.
“As a fintech, we
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