Data from the National Crime Records Bureau[i] revealed that in 2023 alone, Indians suffered losses exceeding INR 7,488 crore due to cyber fraud. SMEs often lack the resources and expertise to implement robust digital protection measures, making them particularly vulnerable to cyber threats. To address this, CyberSure offers a suite of value-added benefits, with a sum insured of INR 10,000 per customer. DBS Bank India will cover the cost of the first month for 10,000 eligible SME owners. After the initial free month, users can continue with the plan through an affordable monthly subscription.
Key features of the plan include:
- Comprehensive insurance coverage for digital theft, available through a convenient monthly subscription plan for all users.
- 24/7 dark web monitoring to safeguard users' identities by scanning the dark web for signs of their private credentials being exposed in a data breach. If any credentials are found, CyberSure will promptly alert the user and provide clear instructions on how to protect their identity.
- Engaging edutainment modules with videos and interactive content in regional languages to enhance cybersecurity awareness. These modules cover topics such as personal information protection, social engineering, phishing, and password safety, making cybersecurity an integral and effortless part of users' daily lives.
- A thorough digital health check that offers users a quick evaluation of their digital well-being and a digital health score.
Speaking about the partnership, Kulin Shah, Co-founder and Chief Operating Officer of Onsurity, said, “SME business owners often juggle multiple responsibilities, but cyber safety demands specialised attention, especially given the sophisticated threats we face today. Our monthly subscription-based model offers SME owners peace of mind, allowing them to focus on growing their business while we handle their cyber protection. With DBS Bank India’s strong presence in the SME sector, we couldn’t have asked for a better partner to bring this essential product to market.”
Sudarshan Chari, Managing Director & Head – SME Banking, DBS Bank India, said, “As cyber threats become more complex, SMEs need robust and accessible protection to secure their operations and data. CyberSure provides an additional layer of security, allowing entrepreneurs to focus on what matters most: growing their businesses. This aligns seamlessly with our brand promise of 'live more, bank less.’ Onsurity’s expertise in providing tailored tech solutions complements our efforts, further empowering SMEs. We will continue to leverage our strong ecosystem partnerships to deliver solutions that go beyond traditional banking and address the unique challenges faced by SMEs.”
The companies formalised this partnership by signing a Memorandum of Understanding at the recently concluded Global Fintech Festival, one of the largest fintech conferences in the world organised annually by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC).
