Onsurity has announced a strategic collaboration with DBS Bank India to introduce CyberSure, a comprehensive cyber protection plan tailored for Small and Medium Enterprises (SMEs) across India. This partnership addresses a critical need in the SME sector, given the alarming rise in cyber fraud incidents. According to the National Crime Records Bureau of India, cyber fraud resulted in losses exceeding Rs 7,488 crore in 2023 alone.
SMEs are particularly vulnerable to cyber threats due to their limited resources and lack of specialized cybersecurity expertise. Recognizing this, Onsurity and DBS Bank India have developed CyberSure to offer a robust cybersecurity solution designed to mitigate these risks. The CyberSure plan features a range of protective measures and services, including comprehensive insurance coverage against digital theft, 24/7 dark web identity protection, and interactive educational modules available in regional languages. Additionally, the plan includes a thorough digital health check to ensure ongoing protection and system integrity.
To facilitate widespread adoption, the first 10,000 SME owners will benefit from the inaugural month of service at no charge. Following this initial period, DBS Bank India will implement a nominal monthly membership fee. This approach not only provides immediate access to essential cyber protection but also ensures affordability and continued support for SMEs.
Kulin Shah, COO and Co-founder of Onsurity, emphasized the significance of this initiative, stating, “The monthly pricing plan institutionalizes cyber protection for SMEs, allowing business owners to focus on their growth while ensuring their digital security is managed effectively through our partnership with DBS Bank India.”
Sudarshan Chari, Managing Director & Head – SME Banking at DBS Bank India, highlighted the strategic value of CyberSure, noting, “This innovative solution adds an extra layer of protection, enabling business owners to concentrate on developing their enterprises with the confidence that their digital assets are secure.”
The formalization of this partnership was marked by the signing of a Memorandum of Understanding (MoU) at the Global Fintech Festival, a prominent event in the fintech industry. This collaboration signifies a major step forward in providing SMEs with critical cyber protection, ensuring that they are well-equipped to navigate the complex digital landscape and protect their business interests.
Through CyberSure, Onsurity and DBS Bank India aim to empower SMEs with the tools and resources necessary to safeguard their digital operations, thereby enhancing their overall resilience against cyber threats.
