With the shift to digital banking, millions of Indian customers rely on their banks online for everything such as for balance checks and fund transfers. As services go digital, cyber risks rise too.
Did you know that Check Point Software’s report reveals that Banks in India face an average of 2,525 cyberattacks per week, much higher than the global average. Between 2018 and 2022, Indian banks experienced 248 reported data breaches, according to the government. These figures highlight that continuous testing and proactive security are essential.
Thus, Indian banks must rigorously test their systems using proper web application penetration testing to protect customer’s money and data? Let’s find more about this topic!
Why Do Banks Use Web Application Security Testing?
Indian regulator RBI mandates regular VAPT. According to RBI directives, banks must conduct vulnerability assessments every six months and full web application penetration testing annually for critical systems that interface with customers. Additionally, outdated RBI-enforced cyber norms have pushed banks to heavily focus on risk governance and cybersecurity controls .
According to a (Boston Consulting Group) BCG report, Indian banks are spending significantly less on cybersecurity, only about 5% of their IT budget, compared to 7–8% globally. This spending gap may undermine the depth and frequency of penetration testing.
How Web Application Penetration Testing Protects You?
Web Application Penetration Testing helps guard against account breaches, data leaks, and unauthorized transactions. Here’s how banks use it to stay secure:
- Simulates real-world attacks on applications to uncover hidden vulnerabilities.
- Covers integrations like UPI platforms, APIs, payment gateways, and customer portals.
- Tests run post-implementation and during major upgrades to ensure safe changes.
- Banks must not only fix identified issues but sustain compliance over time.
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If you’re looking for an expert partner to deliver robust security testing—aligned with CERT-In and regulatory standards; Peneto Labs can help safeguard your financial applications effectively.
Why You Must Choose Peneto Labs as a Partner for BFSI Web Application Penetration Testing?
When it comes to banking, financial services, and insurance (BFSI), the stakes are extremely high. Even a minor vulnerability in a web application can lead to financial fraud, regulatory penalties, or permanent loss of customer trust. This is where Peneto Labs steps in as a trusted cybersecurity partner.
At Peneto Labs, we specialize in web application penetration testing for BFSI platforms, ensuring that banking portals, mobile banking apps, payment gateways, and insurance platforms remain secure against ever-evolving threats. Our deep technical knowhow makes us a reliable choice for financial institutions that need compliance-ready audits.
Here’s what sets us apart for BFSI security:
- Certified Pentesters with BFSI Experience: Our team holds OSCP, OSCE, GCIH, and GWAPT certifications and has worked with top banks, NBFCs, and insurers across India.
- Manual and Automated Pentesting: We go beyond scanners to identify complex issues like chained exploits, authentication flaws, and logic errors.
- Compliance Alignment: Our reports are structured to meet CERT-In requirements, RBI advisories, and industry audit standards, making it easier for BFSI companies to stay audit-ready.
- Free Retesting Within Audit Window: To validate fixes and help BFSI companies avoid repeat vulnerabilities.
- Safe-to-Host Readiness: Before deploying new features or updates, we ensure systems are secure to go live.
- Close Collaboration with Tech & Compliance Teams: We bridge the gap between security, IT, and compliance teams to ensure quick remediation without disrupting operations.
Final Thoughts
Many banks get web application penetration testing done from a professional web application penetration testing vendor such as Peneto Labs. If you belong to BSFi industry, make sure your bank is safe from digital attackers. You must not leave room for high-profile breaches. Your financial institution’s cybersecurity budgets need to upgrade as per evolving cyber threats.
With cyberattacks on the financial sector rising year after year, BFSI companies cannot afford to take risks. Peneto Labs provides the expertise, precision, and compliance-driven approach needed to secure critical banking and financial applications.