In order to provide entrepreneurs of small and medium enterprises (SMEs) in India with an extensive cyber protection package, Onsurity has teamed with DBS Bank India to offer CyberSure. According to data from the National Crime Records Bureau, cybercrime cost Indians more than ₹7,488 crore in losses in 2023 only. SMEs are particularly vulnerable to cyber threats because they frequently lack the money and knowledge necessary to put in place strong digital protection measures. CyberSure provides a range of value-added features with an amount insured of INR 10,000 per customer to solve this.
For the first month, DBS Bank India will pay the 10,000 qualified small and medium-sized business owners. Users can stick with the plan after the first free month by subscribing to an inexpensive monthly membership.
Key features of the plan include:
- Full insurance protection against cyber theft, accessible to all customers via a straightforward monthly subscription plan.
- Constantly checking the dark web to protect users’ identities by looking for indications that a data breach may have disclosed their secret credentials. CyberSure will instantly notify the user and provide clear information on how to protect their identity in the event that any credentials are discovered.
- Enhancing cybersecurity awareness through interactive learning modules and movies in local languages. These lessons make cybersecurity a seamless and essential part of consumers’ everyday lives by covering subjects including password safety, social engineering, phishing, and personal information protection.
- A comprehensive digital health check that provides consumers with a digital health score and a speedy assessment of their digital well-being.
Speaking about the partnership, Kulin Shah, Co-founder and Chief Operating Officer, Onsurity, said, “SME business owners often juggle multiple responsibilities, but cyber safety demands specialized 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.”
At the most recently found Global Fintech Festival, one of the biggest fintech conferences in the world organized by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC), the companies formalized their partnership by signing an Agreement of Understanding.
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