Securing Digital Fintech Platform Value Proposition and Security - PowerPoint PPT Presentation

Securing Digital Fintech Platform Value Proposition and Security Challenges Agus F. Abdillah Jakarta - 28 th Nov, 2018 1

Securing Fintech

1 Introduction 2 What Being Platform Means? AGENDA What is Value Proposition for Digital 3 Technology Innovators? Security challenges in the evolving 4 Fintech landscape

About Telkomtelstra Customers is a joint venture between PT Telkom Indonesia and Telstra. T Telkomtelstra Leveraging the strengths of both Telkom Indonesia and Telstra, we bring an unparalleled combination of deep local market expertise and global managed solutions experience. Managed large enterprise from Founded in various industries 2014 Ready to Sell at Supported by 150+ employees with world class certification May 2015 Managed Managed Managed Unified Professional Network Services Security Services Cloud Services Communication Services CONFIDENCE in Right Kind of Toolset DELIVERING SOLUTION : Telkomtelstra are driven to give new excitement to Indonesia Market in the World-Class delivery excellence right Company from the start Accreditation 4

1 Introduction 2 What Being Platform Means? AGENDA What is Value Proposition for Digital 3 Technology Innovators? Security challenges in the evolving 4 Fintech landscape

What Being a Platform Means? New Business Models that uses technology to connect people, organization, and resources in interactive ecosystem in which amazing amount of value can be created and exchange Media Services (Platform Revolution, Geoffrey G. Parker) Core Interaction elements: Telco & IT information 1 Services Engage Transport & (participants) Travel Service Stock Weather Talent Medical Record Platform Supply Demand e-commerce Traffic News Business Goods and or (Exchange/Flow) Services Fintech 2 Consumer Cleaning Transport Hospi- Delivery Health Goods Service tality (filters) Service Money HR & Talent 3 Service Pay (Value Unit) The rise of the platform has already transformed many major industries and more equally important transformation are on the way

What Being Disrupt by Digital Fintech Platform? Alternative lending platforms Deposit and P2P lending Lending Shifting customer preferences Core Interaction elements: Third-party API Mobile 3.0 information 1 Virtual technologies Engage Non-traditional payment scheme Mobile money (participants) P2P Remittance Stock News Payment Medical Currency Cryptocurrency Record Platform Cashless world Supply Demand Integrated billing Capital Mobile payments Goods and or Business Alternative capital-raising Raising Services platforms (Exchange/Flow) Crowdfunding Virtual exchanges and smart contacts Insurance Disaggregating forces 2 Digital distribution Gold/ Logam Commodity Delivery Autonomous vehicle Mulia Connected world (filters) Wearable Money Autonomous Vehicle Capital 3 Empowered investors Investment Pay Retail algorithmic trading Social trading (Value Unit) Automated advice and management The lending and payments sector is anticipated to experience a high level of disruption with the emergence of online platforms that facilitate lending and borrowing between individuals and businesses, peer-to-peer personal loans, and innovative models for lending to small and medium enterprises.

What Being Disrupt by Digital Fintech Platform? Cloud Applications (SaaS) Web & Mobile Cloud Platforms Scaling Engaging (PaaS) QR Connected Customer Ecosystem Security Application Experience Biometric (SecaaS) API ECX Network Application Face Recognition Supply (NaaS) Demand Intelligent DiD Data Analytic IOT Wearable ITO Collaboration Intelligent Digital Vehicle Tracking of SCM / Digital Contract Work Things Place Municipal CCTV HCM

1 Introduction What Being Platform Means? 2 AGENDA What is Value Proposition Digital 3 Fintech Platform? 4 Security challenges in the evolving Fintech landscape

What is is Valu lue P Proposit ition o of D Dig igit ital F Fin intech Pla latform? Used data to Shift inside people, Scale more Unlock new create resources and function efficient source of community that exist outside the value creation feedback loop business, either and supply complementary or replacing The rise of platform is disrupting because it is reconfiguring value creation to new source of supply , reconfiguring value conception by enabling new force of consumer behavior and reconfiguring control through community driven curation . (Platform Revolution, Geoffrey G. Parker)

Digital Pl Platform Monetization : : What a and W Whom t to C Charge Monetization Principles: Capturing the Maximal Value of Platform and or Services Created Charging transaction Fee to • Services • Charging for access to Platform and or Services What to Charge: • Charging for enhanced access to Platform Different organisation have different needs, different budgets. Most of revenue • Charging all customers can be generated by top spenders. • Charging most user full price while subsidizing “the stars” Propose a catalog of A-la-Carte services Charging some user full price • Whom to Charge paid on a usage based consumption. while subsidizing who are price sensitive.

Di Digital De Design gn Transition on t to Monetize From FREE to FEE – “ Users First Monetization Later ” – only after a value unit has been created and exchanged with result that are satisfactory to both the producer and consumer should the platform business itself seek to capture a share of that value. Key Design Principles: If possible, avoid charging for the value Also, avoid reducing access to value that users previously received for free. that users have become accustomed to receiving Instead, when transitioning from FREE Consider potential monetization to FEE, strive to create new, additional strategies when making your initial value that justified the charge platform design choices.

1 Introduction What Being Platform Means? 2 AGENDA What is Value Proposition Digital 3 Fintech Platform? 4 Security challenges in the evolving Fintech landscape

Potential Security Attack and Breach to the Digital Fintech Platform? Indonesia is the third most targeted country after India and USA Financial Service the most targeted industry

Potential Security Attack and Breach to the Digital Fintech Platform? Email : Phising, Spam URL : Man in the middle, DDoS Attack Web : Malware, Phising, Scaling Query Parameter : SQL Injection Deface Engaging Connected Customer HTTP headers : HTTP Poisoning Mobile Apps : Malware, Ecosystem Rootkit, Worm Experience Post content : Cross Site Scripting Socmed : Phising, Malware, ECX API Fraudulent Accounts, Account Library : Resource Hijack, Cross T akeover Origin Resource Sharing Supply AV/VR : Denial of service Demand Attack Intelligent DiD Data Analytic Sensor : DDoS Attack Digital Workplace : Phising, Botnet Attack, Devices : Mirai IOT ITO Botnet, DDoS Attack, BYOD : Malware, Phising Performance : Resource Intelligent Digital hijack, crypto-miner of Work Interface : Session hijack, Things Business Apps : DDoS Attack, Place Account enumeration Malware, Trojan Network : Buffer overflow, UDP exploit

Sec ecurit rity a and p privacy challen enges f es faced ed b by F Fintec ech companies es The financial services sector handles sensitive information Data Access & Insight about individuals and enterprises. As more data now available in digital format is easier to analyzed but also more susceptible to security breaches. Data Security Breach As more services go online, data ubiquity, and consequently data security, are proving to be a major challenge for Fintech. As the penetration of online and Use of Data phone banking services increases, enterprises are able to gather tremendous amounts of data about customers and visitors, which is analyzed to generate insights Data Privacy & Protection According to PwC’s Global Fintech Survey 2016, almost 56% of the respondents identified information security and privacy as threats to the rise of Fintech which included personal information, financial and health information.

Telkomtelstra Security Solution We help customer navigate the complexities of the Security Services market, sourcing solution from best in breed vendor, to address the full range of their requirements. Network End Point Traditional perimeter CPE-based Desktop/ server, mobile and IoT security solutions inclusive of security solution. physical data center controls Service: Next Gen Firewall Security Check up Vulnerability Assessment Content Penetration Testing Security Prevent Cyber Security Health Check Application and Network Compliance Strategy information-based security solutions Network Architecture Assessment Service: Secure Web Cloud Risk Assessment Mitigate Detect Gateway; Email Security for Office Assessment 365 Security Inteligence Collection and correlation of large and Cloud disperse event data to build insight Virtualized appliances and and prevent attacks Service: Security Intelligence platforms of security solutions Service: Firewall on Azure 17

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