Standard Chartered Bank's Jim Byrden to highlight importance of cyber resilience, AI in banking at upcoming summit

Standard Chartered's Managing Director of Assurance and Testing in Group CISRO, Jim Byrden, shares valuable insights on emerging technologies and cybersecurity ahead of his speaking engagement at the Asian Banking & Finance Summit in Singapore this September.

Byrden, a seasoned professional with extensive experience in the risk department, oversees a team that aims to ensure the bank's cyber posture is strong. "My team and I provide assurance to the bank about its cyber posture through a team of assurance experts and Red Team offensive testers," said Byrden.

He emphasised that his team's role is crucial not just for Standard Chartered Bank but also for the entire industry, as it helps reinforce the bank's position to service its customers effectively.

Byrden is scheduled to speak twice during the summit. First, he will participate in a panel discussion focusing on the pros and cons of Artificial Intelligence (AI) in the banking sector. He will also conduct a solo talk on cyber resilience.

"I'll be bringing a cyber risk point of view. Cyber risk is not just a concern for the Chief Technology Officers or CIOs. It's something the regulators care about, and it's something customers care about," Byrden noted.

According to Byrden, one of the main takeaways for attendees of the summit should be an understanding of how emerging technologies, such as AI, are shaping the future of the banking industry. "The paradigm shift is creating opportunities as well as challenges that we need to be conscious of," he said.

When asked about the most pressing challenges facing the banking industry, Byrden pointed out that apart from economic factors like inflation and interest rates, technology is rapidly evolving, and banks have no choice but to adapt.

"It could be a differentiator for how banks do business in the future. It might even propel some small banking startups to change the way we bank," Byrden stated. He also highlighted the potential for technology to create equal opportunities within the financial sector, a topic that will be discussed in depth during the panel.

As banks continue to face evolving threats, especially in the cybersecurity landscape, Byrden believes that the industry needs to be proactive in safeguarding itself and its customers.

"As a bank, we're constantly facing threats because they evolve and become more sophisticated. We need to be on the front foot and make sure we are protecting our organisation and the interests of our customers," he said.

Byrden's talks at the summit will touch on these aspects, sharing insights on how Standard Chartered Bank is taking steps to protect its customers and what lessons other organisations can glean from their strategies.

Byrden's participation at the Asian Banking & Finance Summit is part of a broader initiative to disseminate valuable information, stimulate discussions, and provide actionable insights into the future of banking and finance in Asia. His expertise in both cyber resilience and the potential impacts of AI make his sessions must-see events for attendees seeking to understand the challenges and opportunities lying ahead for the financial sector.