Mr. Ajay Kaushik, Founder & CEO of Panacea Infosec Pvt Ltd. receives the Global 50 Glory Award 2021 for achievement in the IT Sector. He has been adopting and amalgamating unique technologies to bring the needed innovation in the security domain and is working with a couple of researchers to use biomimicry technology. Here’s an exclusive interview with Mr. Ajay Kaushik:
Please tell us a bit about yourself.
I am an Information Security management professional with CISSP, CISM, PCI QSA, PCI 3DS & PCI ASV certifications. In a highly successful career of nearly two decades, I have brought revolutionary practices in the information and data security sector which includes bringing transparency and international yardsticks in the form of best practices and industry standards. I have expertise in IT security research, consulting and audit, and leadership skills. I have always been emphasizing on foolproof Information and data Security for protection to all stakeholders in the fast-evolving digital economy. I have completed more than 400 formal PCI DSS assessments, readiness assessments and PCI PIN security assessments for multiple level-1 Banks, Card Personalization Bureaus, Payment Gateways, BPOs/KPOs in more than 35 countries.
What were the challenges that you faced initially and how did you overcome them?
Like most of the fast-growing markets, the security services market is also very challenging. From ensuring round-the-clock security to a client to upgrade to the best in technology, the entire gamut of challenges is huge and never-ending. Following are the major challenges Panacea had to face initially while growing:
– Finding and retaining human capital with the right skill sets was a major challenge. We managed to overcome this by creating a mentorship program* specific to audit and advisory services
– Many organizations are moving to cloud applications (Hosting and SaaS), which do not integrate easily into traditional security monitoring tools managed by managed information security services providers (MSSPs). This leaves the managed service provider managing multiple security tools, or more often, a gap in coverage and visibility into security threats.”. This challenge was addressed by partnering with small companies and group of experts in the field of Cloud and creating a specific cloud security team.
What has been your most significant achievement?
We are part of PCI Security Standards Council (PCI SSC) Global Executive Assessor Roundtable GEAR, an Executive Committee level advisory board comprised of senior executives from PCI SSC assessor companies. This shows our competency in the payment security domain.
We have been recognised by Deloitte as one of the winners of Deloitte tech fast 50 India 2020. India’s Leading media platform business today recognised Panacea Infosec amongst the few companies for the contribution to employees and eventually society during pandemic by not only retaining all employees but also giving raise and hiring people during pandemic.
How do you come up with new ideas?
We have been adopting and amalgamating unique technologies to bring the needed innovation in the security domain. We believe, nature is the best place to learn and get inspired to innovate as our planet has adapted to so many changes and events to survive since last millions of years. For instance, we are working with a couple of researchers to use biomimicry technology which is a practice that learns from and mimics the strategies found in nature to combat cyber attacks.
Who is your biggest inspiration?
My mother is my greatest inspiration because she raised two children with all values and dignity without failure post my father’s death at an early age when I was only one years old. I also get inspired from the people and the events around me.
What motivates you?
I believe motivation can come not only from success but also from disappointment, failure, or a storm. I am motivated by the challenges of my life. Challenges, much more than anything else, keep me up no matter how hard they can get sometimes. I always believe that while challenges were meant to sometimes distract us, they can also give us hope and motivate us to be better. They spice up our lives, after all.
Who do you look toward for advice?
Anyone who can provide me the right guidance
How do you define success?
For me, success is enabling people and society to make the world a better place to work and live. This requires the inclusion and participation of people.
What are your growth plans for the next 12 months?
To scale our business, we will slowly create and set up local offices in different countries covering different regions across the globe to ensure seamless services and support to our clients. We will also be creating new verticals and service lines, wherein, we are planning to develop futuristic solutions for Smart Cities projects.
