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Home » Cyber Security News » AI in Indian BFSI & IT: Strengthening cybersecurity against fraud

AI in Indian BFSI & IT: Strengthening cybersecurity against fraud

AI in Indian BFSI & IT: Strengthening cybersecurity against fraud

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Banks, fintechs and insurance companies rely heavily on AI for fraud detection, identity monitoring and behavioural analytics.
Banks, fintechs and insurance companies rely heavily on AI for fraud detection, identity monitoring and behavioural analytics.

Banking, financial services and insurance (BFSI), information technology services and telecom are emerging as the front-runners in India’s adoption of artificial intelligence (AI) in cybersecurity, driven by high-stakes threats such as fraud, credential theft, ransomware and network-level attacks, said experts.

“Banks, fintechs and insurance companies rely heavily on AI for fraud detection, identity monitoring and behavioural analytics. Regulatory pressure and instant payment ecosystems make automated threat detection essential,” said Ravindra Baviskar, director of sales engineering (India & SAARC) at Sophos, a global cybersecurity firm.

IT/ITeS is close behind, according to him. “These companies manage global customer data and distributed cloud environments, so AI-assisted threat detection and response help handle scale, alert fatigue and sophisticated attacks,” he said.

A December 2025 joint report by the Data Security Council of India and Palo Alto Networks confirmed this, saying technology/IT/ITeS and BFSI were the lead adopters and describing IT firms as early adopters and innovation drivers in AI-enabled security, focused on “continuous compliance monitoring and anomaly detection”.>

  • Published On Feb 26, 2026 at 09:01 AM IST

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