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Online payment services <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> is expanding its base in other Southeast Asian markets including <keyword id="6356662" type="COUNTRY" weightage="20" keywordseo="Singapore">Singapore</keyword>. In order to materialize its overseas expansion plans, the company has appointed Sourabh Sharma, founder of Milaap as the head for its Southeast Asian operations. 
	 
	“We are excited on the opportunity of providing consumers with great payment solutions on mobile. Most people still resort to traditional ways of bill payments such as bank transfers, kiosks and physical outlets of the service provider. I am extremely excited to be a part of Paytm’s growth in this area. With a powerful product and a well-thought out strategy, I am certain that we can establish a firm foothold for Paytm in Singapore and other South East Asian geographies in the near future,” said Sharma. 
	 
	Sharma, who is based out of Singapore, will be responsible for tapping the mobile consumers for Paytm’s services. 
	 
	“Paytm intends to bring to South-asian markets their app driven convenience of paying for utility bills in the first phase, and will cater primarily to areas such as bill payments, transportation, parking, metros etc. With this expansion, the company further plans to tap other South East Asian markets of Indonesia, Thailand and Malaysia,” said Vijay Shekhar Sharma, CEO, Paytm. 
	 
	Commenting on the appointment of Sharma, he added, “Paytm is committed to growing its presence in global markets through a route of partnerships and grounds-up built company across regions. We are happy to have a seasoned entrepreneur in Sourabh leading this charge out of his Singapore base for South East Asia.” 
	 
	Image: Paytm.com

Paytm Plans Overseas Expansion, Focuses On
Singapore, Southeast Asian Market

(Eds: Updating with minor edits) New Delhi, May 5 () Digital payment firm Paytm on Tuesday announced a Rs 100 crore loyalty programme for grocery stores to cover losses faced by merchants from transaction charges.Businesses are now required to pay 1 per cent MDR (merchant discount rate) for transferring payment received on Paytm wallet to their bank account.Paytm said it has set aside Rs 100 crores, which would be invested in giving access to financial services and various marketing tools to encourage kirana stores to accelerate the growth of digital payments through Paytm all-in-one QR during coronavirus pandemic."The banks charge us a fee to load the wallet and we will be returning this 1 per cent MDR by doubling the benefits for their business which includes various financial and business services that they use on our platform," Paytm senior vice president Saurabh Sharma said.Paytm said that as part of the new loyalty programme, all merchant partners will be eligible to earn reward points for accepting payments from Paytm Wallet, Rupay Cards, and all UPI based payment apps."The collected points can be redeemed for a voucher instantly or for purchasing exciting merchandise from the Paytm for Business app, such as sound-box, EDC, etc. There is no limit on the reward points that can be earned by a merchant and will directly depend upon the total number of transactions done through the Paytm all-in-One QR," the statement said. PRS BALBAL

Paytm launches Rs 100 cr loyalty scheme for kirana stores to cover merchant charges

New Delhi, May 5 () Digital payment firm Paytm on Tuesday announced a Rs 100 crore loyalty programme for grocery stores to cover up losses faced by merchants from transaction charges.Businesses are now required to pay 1 per cent merchant discount rate for transferring payment received on Paytm wallet to their bank account.Paytm said it has set aside Rs 100 crores, which would be invested in giving access to financial services and various marketing tools to encourage kirana stores to accelerate the growth of digital payments through Paytm all-in-one QR during coronavirus pandemic."The banks charge us a fee to load the wallet and we will be returning this 1 per cent MDR by doubling the benefits for their business which includes various financial and business services that they use on our platform," Paytm senior vice president Saurabh Sharma said.Paytm said that as part of the new loyalty programme, all merchant partners will be eligible to earn reward points for accepting payments from Paytm Wallet, Rupay Cards, and all UPI based payment apps."The collected points can be redeemed for a voucher instantly or for purchasing exciting merchandise from the Paytm for Business app, such as sound-box, EDC, etc. There is no limit on the reward points that can be earned by a merchant and will directly depend upon the total number of transactions done through the Paytm all-in-One QR," the statement said. PRS BALBAL

Paytm's launches Rs 100 cr loyalty scheme for kirana stores to cover up merchant charges

<ul><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> has said 2020 will be the year of <keyword id="6355241" type="UNKNOWN" weightage="20" keywordseo="lending">lending</keyword>.</li><li>Interestingly, Paytm Business Loan was launched in January. </li><li>In December 2019, players like Xiaomi and Realme too had entered the credit business in India.</li></ul>Vijay Shekhar Sharma is going big on lending and he himself let it out on Twitter. Sharma, who founded <keyword id="338385" type="COMPANY" weightage="20" keywordseo="One97">One97</keyword> Communications which runs Paytm declared 2020 as the year of lending. <div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar" image="http://pbs.twimg.com/profile_images/813598012173754368/MnHjJnCv_normal.jpg" favoritecount="78" retweetcount="12" status="2020 will be year of lending, globally. 😬 Payments or Commerce or Gaming : you could probably enter from any direct… https://t.co/6CaeNG3zH7" createdat="1580739472000" id="1224336204792942593"></div>

 There is a reason behind Sharma’s prophecy. In January, Paytm launched its lending feature for business loans. Paytm Business Loan disperses loans from a minimum of ₹10,000 to ₹2 lakh for a tenure of 180 days. Through the same, users will be eligible for a higher loan limit once the current period exhausts. But, only if there are no defaults. In January, Paytm also launched an all-in-one QR code for merchants. Through this feature, merchants will be able to accept unlimited payments from Paytm Wallet, Rupay Cards and all UPI-based payment apps directly into their bank account without having to pay a processing fee. Paytm’s Senior Vice President Saurabh Sharma too told<a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytm-plans-to-scale-up-its-online-lending-business/articleshow/73300698.cms"> ET</a> that the company is gunning for an NBFC (Non-banking Financial Company) licence. In <a href="https://www.livemint.com/companies/news/paytm-customers-to-get-instant-digital-loan-as-company-partners-clix-finance-1563863667140.html">July</a> 2019, Paytm also partnered with the NBFC Clix Finance to offer instant digital loans. The power of lending Digital lending has the potential to gather space especially as credit availability from traditional sources has slowed down. According to the Economic Survey released before the Union Budget, credit growth slowed down to 7.1% in December last year. A year before, it was over 12% - squeezing industry in times of growth slowdown. The digital lending space is also crowding with new and unlikely players like smartphone makers Xiaomi, Realme entering the space. Xiaomi launched Mi Credit in December 2019, and that was soon followed by the launch of Realme Paysa. Xiaomi MD and CEO Manu Kumar Jain had said that he sees a potential in the 1.9 crore personal loan consumers in the country. According to a BCG report, India’s online credit lending industry will be worth $1 trillion by 2023. See Also: <a href="https://www.businessinsider.in/tech/news/smartphone-makers-realme-and-xiaomi-will-compete-in-the-financial-services-market-too/articleshow/72832681.cms">Smartphone makers Realme and Xiaomi will compete in the financial services market too</a>

Decoding Vijay Shekhar Sharma’s latest tweet on – 2020 being the ‘year of lending’

<ul><li><keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> has seen a 37 per cent increase in cyberattacks in the first quarter (Q1) of 2020, as compared to the fourth quarter (Q4) of last year.</li><li>The <keyword id="412137" type="COMPANY" weightage="20" keywordseo="Kaspersky">Kaspersky</keyword> Security Network (KSN) report showed that its products detected and blocked 52,820,874 local cyber threats in India between January to March this year.</li><li>The data also shows that India now ranks 27th globally in the number of web-threats detected by the company in Q1 2020.</li></ul>India has seen a 37 per cent increase in cyberattacks in the first quarter (Q1) of 2020, as compared to the fourth quarter (Q4) of last year, a new report revealed on Saturday. The Kaspersky Security Network (KSN) report showed that its products detected and blocked 52,820,874 local cyber threats in India between January to March this year. The data also shows that India now ranks 27th globally in the number of web-threats detected by the company in Q1 2020 as compared to when it ranked on the 32nd position globally in Q4 2019. "There has been a significant increase in the number of attacks in 2020 Q1 that may continue to rise further in Q2 as well, especially in the current scenario where we notice an increase in cybercriminal activities, especially in the Asia Pacific region," said Saurabh Sharma, Senior Security Researcher, GReAT Asia Pacific at Kaspersky. The number of local threats in Q1 2020 in India (52,820,874) shows how frequently users are attacked by malware spread via removable USB drives, CDs and DVDs, and other "offline" methods. Protection against such attacks not only requires an antivirus solution capable of treating infected objects but also a firewall, anti-rootkit functionality and control over removable devices. According to the firm, the number of local threats detected in Q4 2019 was 40,700,057. India also ranks 11th worldwide in the number of attacks caused by servers that were hosted in the country, which accounts of 2,299,682 incidents in Q1 2020 as compared to 854,782 incidents detected in Q4 2019, said the report. "We see smartphone users being targeted more due to mass consumption and increased digitalisation," Sharma said. "Risks like data leakage, connection to unsecured wi-fi networks, phishing attacks, spyware, apps with weak encryption (also known as broken cryptography) are some of the common mobile threats that Android users face," he added. "In order to mitigate some of the major risks like data breaches, targeted ransomware attacks, large scale (distributed denial-of-service) DDoS attacks, etc, businesses will need to allocate their budgets correctly to build a stronger security infrastructure," said Dipesh Kaura, General Manager for South Asia, Kaspersky.

India saw a 37% increase in cyberattacks in the first three months of 2020

<ul><li>Cognizant first-quarter earnings were in the green but worst is yet to come with the full impact of the ransomware attack on its systems to be reflected in the coming quarters.</li><li>Management explained that there are multiple costs — including legal and consulting — associated with the investigation. </li><li>Even now, Cognizant expects that it will take at least until the end of the month to completely restore its systems.</li></ul>Cognizant’s first-quarter earnings were in the green, up by 3.5% in constant currency terms, but the shadow of the Maze ransomware attack on the company’s network still looms large. “We do anticipate the revenue and corresponding margin impact to be in the range of $50 to $70 million for the quarter [Q2],” said Cognizant’s Chief Financial Officer (CFO) Karen McLoughlin during the earnings call. <div type="Article" hostid="261" msid="75616476" title="Cognizant CEO Brian Humphries warns of a tough 2020— plans to hire 20,000 freshers this year" mstype="2" mssubtype="0"></div> “With the ransomware attack now contained… We are now substantially work from enabled,” added CEO Brian Humphries explaining that the vast majority of revenue impact will only be reflected in the next quarter’s earnings and continue to bear down in the coming year. “[The] ongoing remediation cost will institute through subsequent quarters,” he said. The issue with ransomware attacks, in comparison to other malware, is that the impact goes beyond mere monetary compensation. The company’s reputation takes a hit, clients back out and there’s a huge opportunity cost while security experts try to get systems back online. “We expect to incur certain legal, consulting and other costs associated with the investigation, service restoration and remediation of the breach,” explained McLoughlin. It’s going to take till the end of the month for Cognizant to completely get its systems back online and fully functional, according to Humphries. The ripple effects of a ransomware attack Cognizant isn’t the only company to get hit by Maze ransomware. The malicious software has been blamed for extorting a number of large organisations in the past year. However, the attack on Cognizant is likely the most prolific till date. “Unlike its predecessors, the group behind Maze ransomware delivered on its promises in late 2019 — more than once,” said global cybersecurity company Kaspersky. For instance, in November, when Allied Universal refused to pay up, the criminals <a href="https://www.bleepingcomputer.com/news/security/allied-universal-breached-by-maze-ransomware-stolen-data-leaked/">leaked 700MB of internal data online</a> including contracts, termination agreements, digital certificates, and more. The blackmailers said they had published just 10% of what they had stolen and threatened to make the rest available publicly if the target did not cooperate. <div type="Article" hostid="261" msid="75271532" title="Cognizant's ransomware attack is making peers like TCS and Infosys nervous — and they are beefing up security" mstype="2" mssubtype="0"></div> For an IT services company like Cognizant, there’s a ripple effect that goes beyond simply paying the ransom. In addition to locking the company’s files behind a bitcoin paywall — sensitive information was stolen like targets for mergers and acquisitions, profit and loss reports, as well as medical records. “Ransomware attacks often rely on victims making a few basic mistakes that are often quite uncomfortable to confront,” explains Paul Ducklin, the Principal Research Scientist at Sophos. And, as is the case with most blackmail, paying the blackmailers doesn’t necessarily ensure that information won’t be leaked. All you have is a pinky promise from a bad-faith actor that they will keep their word — and Cognizant’s clients seemed to be aware of this little complication. “Some clients opted to suspend access to their networks. Billing was therefore impacted for a period of time, yet the cost of staffing projects remained on our books,” said Humphries. The approach that hackers take is called ‘steal, lock and inform’ because they understand the impact this will have on the company’s reputation. “The attack encrypted some of the internal systems, effectively defaming them and we proactively took other systems offline,” added Humphries. There’s no reset button, there’s no way to get the information back and it takes time to determine how much data has been lost since attackers erase any directories or back-ups a company may have in place. “Backing up data is just a hygiene step that needs to be taken by every data storing facility mandatorily, however it is not enough,” said Saurabh Sharma, a Senior Security Researcher for Kaspersky. See also: <a href="https://www.businessinsider.in/business/news/cognizant-q1-net-falls-16-7-pc-to-usd-367-mn-sees-challenging-demand-environment-in-2020/articleshow/75616476.cms">Cognizant CEO Brian Humphries warns of a tough 2020— plans to hire 20,000 freshers this year</a> <a href="https://www.businessinsider.in/business/news/lockdown-hyundai-rolls-out-200-vehicles-from-chennai-plant-on-first-day-of-resuming-operations/articleshow/75642579.cms">Hyundai rolls out 200 vehicles from Chennai plant on first day of resuming operations</a> <a href="https://www.businessinsider.in/india/news/coranavirus-cases-in-punjab-news-and-updates/articleshow/74771047.cms">Punjab board to promote class 10 students without final exams due to Covid-19 crisis</a>

The Cognizant Maze ransomware saga will show its full impact for many months to come

<keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> wants to strengthen its payments bank operations and is on a hiring spree in the same regard. India's largest mobile payments platform, Paytm, is poaching talent across industries and is even looking to hire around 3,000 employees for the new business, which has a starting budget of Rs 400 crore. 
 
For the starters, Paytm hired former Airtel executive Saurabh Sharma, who was heading market operations at Airtel Money, as vice-president and will handle merchant and agent acquisition. 
 
Paytm also brought Dhruv Dhanraj Bahl from Bain &amp; Company as assistant vice-president and he will lead the branch designs and their roll out across the country. 
 
Neha Gupta from KMPG will join in as deputy general manager soon and will handle business operations,. 
 
"We've shortlisted people for the CEO position and hopefully we should be able to communicate it when the RBI gives us a go ahead," Paytm chief executive officer Vijay Shekhar Sharma told ET, adding “We've decided to put the budget for the payments bank at Rs 400 crore for two years.” 
 
Over 20 senior and mid-management level executives have been hired to kick-start the payments bank operations. 
 
Paytm will decide on what to offer as a part of payments bank operations, including cardless credit card backed by a bank. 
 
RBI, in last year August, granted payments bank licences to 11 applicants including Paytm, Reliance Industries, Bharti Airtel and Vodafone.

Jobs galore: Paytm on a hiring spree, poaches talent across industries!

There has not been much of a breakthrough in JNU research scholar's case, who was found dead on Monday. The Delhi Police have so far only revealed that it appears to be a suicide case, and they have no indication of any foul play in this incident. 
 
The reason for taking this extreme step, however, is yet to be known as a suicide note was not found. However, cops said the boy was depressed over personal issues for some time. 
 27-year-old J. <keyword id="4295877" type="PERSON" weightage="20" keywordseo="Muthukrishnan">Muthukrishnan</keyword> ended his life at his friend's room in the University campus. His body was found hanging after two friends broke open the door at 5 pm. He had gone to the friend’s house in the afternoon to have food. He said he wanted to sleep and went to a room and locked himself inside. Later, on getting no response, his friends called the police. 
 “A call was received at 5:05pm on Monday that a person had locked himself in a room at a house in Munirka,” a senior police official said. When cops reached to the spot found <keyword id="23678" type="PERSON" weightage="20" keywordseo="Krish">Krish</keyword> (as Muthukrishnan was called by friends) hanging from the ceiling fan. 
 The case is being seen as the second <keyword id="1725862" type="PERSON" weightage="20" keywordseo="Rohith">Rohith</keyword> Vermula death incident. Muthukrishnan too belonged to the Scheduled Caste and was an active member of the justice for <keyword id="3210782" type="UNKNOWN" weightage="20" keywordseo="Rohith-Vemula">Rohith Vemula</keyword> movement. He was pursuing MPhil in JNU and was a native of Salem in Tamil Nadu. Muthukrishnan was an active student in all Dalit movements. In his blog titled "a universal mother without a nation", he elaborated how he met Rohith six times before he took the extreme step on January 17, 2016. "All the intellectuals from the marginalised communities will get arrested just for mocking fictional characters. At the same time, all the leading national institutes will be headed by people who cannot even clear the 10th standard exam. These people claim dissenters as anti-nationals and seditious. They are going to kill many Rohiths, like us, just for eating beef, for being rational, for being intellectually productive for the country. But we are the real sons of this land and after we are all killed, there will be no nation," he said. 
 
Meanwhile, student leaders of various students’ political wing have started blaming each other over the issue. 
 Reacting on the issue, <keyword id="3054758" type="UNKNOWN" weightage="20" keywordseo="Shehla-Rashid">Shehla Rashid</keyword>, former Vice president, JNU students’ union tweeted “JNU VC recently moved court against protesting students &amp; the HC banned protests at Admin block, to which Rajini refers in his last post L.” 
 On the other side, Saurabh Sharma, member ABVP and former joint secretary <keyword id="346405" type="COMPANY" weightage="20" keywordseo="JNUSU">JNUSU</keyword> tweeted “why were the anarchist-leftist gangs so prompt in reaching the site of suicide? Is it a care of criminal conspiracy? Was Rajini murdered?” 
 
The deceased scholar spoke about discrimination <a href="https://www.facebook.com/muthukrishanan.jeevanantham/posts/1945753248981124">in his alleged last Facebook post</a>. "When equality is denied everything is denied. There is no Equality in M.phil/phd Admission, there is no equality in viva - voce, there is only denial of equality, denying Prof. Sukhadeo thorat recommendation, denying students protest places in Ad - block, denying the education of the marginal." 
 
Cops are as of now going over his mobile and internet chat details to ascertain the cause of taking this extreme step.

Everything you must know about research scholar J. Muthukrishnan death case that has rocked JNU

Reuters StaffPalo Alto Networks CEO Nikesh Arora. Palo Alto Networks recently made a big investment in SOAR with its $560 million acquisition of startup Demisto.<ul class="summary-list"><li>SOAR is an acronym for "Security, Orchestration, Automation, and Response."</li><li>SOAR technologies enable companies to respond more quickly to cybersecurity threats, and reduces the need for repetitive human processes.</li><li>Venture capitalists have poured tens of millions of dollars into multiple startups all aiming to profit from the need for security orchestration and automation.</li><li>Among the exits in the SOAR space is the $560 million acquisition of Demisto by Palo Alto Networks.</li><li>In the not-so-distant future, the same SOAR approach that helps automate cybersecurity could also expand into other fields like managing cloud computing environments, too.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul>While detecting potential risks is one thing, among the biggest challenges that faces any organization is the ability to respond quickly to cybersecurity threats. That's the domain where an emerging category of technology known by the acronym SOAR fits in.Security Orchestration, Automation and Response (SOAR) defines a category of technology and vendor solutions that brings together multiple security functions, in an automated approach to accelerate and enable speedy response. Multiple vendors sell SOAR solutions as a way to help organizations reduce risk and improve security operations.SOAR technologies integrate inputs from different security products a company already has, such as Security Information and Event Manager (SIEM) log data, perimeter and endpoint defenses. The inputs are analyzed by the SOAR system with an automated approach that can prioritize high-impact items and then make a decision for remediation and response.For businesses there are multiple benefits which have attracted users, vendors, and plenty of investors to the space. Part of the challenge for companies is dealing with the volume of different alerts from various protection technologies, as well executing the multiple steps needed to coordinate different cybersecurity tools."SOAR's biggest benefit is reducing repetitive tasks," William Lin, partner at ForgePoint Capital (FPC) told Business Insider. "Asking security engineers to continuously do the same task is draining and doesn't scale with the increasing amount of data and events being generated."The need for SOAR has led to a number of acquisitions, as larger players acquire startups to supplement their product portfolios. Among the bis SOAR acquisitions in recent years: Splunk acquired Phantom Cyber in 2018 for $350 million, while Palo Alto Networks acquired Demisto in February for $560 million.<h2>Running the playbook</h2>One of the ways that SOAR technologies helps to automate tasks is by using an approach known as a playbook. Much like how a playbook in sports defines the actions that different players on the field should take in different scenarios, a SOAR playbook defines a sets of actions are followed if a certain event occurs, such as a violation of policy, or a specific threat detection. Incident response - literally the field of responding to a cyberattack - is a foundational component of SOAR, and a place where playbooks are a primary element.Ted Julian, VP Product Management and Co-Founder, IBM Resilient told Business Insider that Incident Response is one of the most mature and widespread use-cases for SOAR, but it's only one piece of the broader puzzle. IBM acquired Resilient Systems back in April 2016 in a bid to add incident response to its security portfolio. Over the years, IBM Resilient has been building out its SOAR capabilities, looking beyond just incident response. "While SOAR platforms are great for orchestrating a fast response for incidents that require a response, there are broader functions within security operations that can also be orchestrated - including general security hygiene and activities such as vulnerability management and remediation," Julian said. "Any activity within the security function that has specific processes and workflows can be orchestrated via SOAR platforms, which are all about connecting and streamlining security activities across people, process, and technology."<h2>Automation is key, but not the whole story</h2>Cody Cornell, CEO of venture-backed SOAR startup <a href="https://swimlane.com/">Swimlane,</a> sees automation as a driving force behind SOAR, though that's not the only thing that most organizations need."Every vendor wants to be a part of the automation trend because it will be the biggest change to how we do security in over a decade," Cornell told Business Insider. In Cornell's view what is often overlooked is that organizations need automation that is not siloed to a handful of products or use cases that are scoped to solve one isolated threat vector or another. Rather in his view, organizations need a system that enables them to apply automation across all facets of not only the security solutions, but at all the levels that interact with security, including IT, HR, legal, and other business technologies."SOAR as a named category by the analyst community including Gartner and Forrester was needed to describe an automation solution that organizations could use for security operations, addressing their daily pain points when trying to keep their organizations secure from relentless bad actors," Cornell said. "Now the problem is altering the mindset of security teams from thinking about automation as a specific product unto itself and more of a principle of applied automation across every facet of security."Slavik Markovich, senior VP of product of Demisto at Palo Alto Networks, told Business Insider that his company sees SOAR as both a standalone solution and as a critical part of a larger platform strategy. He noted that the key drivers for SOAR demand are ever-present, with security alerts rising and multiple security products that are overlapping data and throwing up alarms, often without cross-product correlation. "SOAR is designed to play well with others by nature," Markovich said. "Open and extensible product integrations, workflows that coordinate and automate actions across teams and use cases, and the ability to implement user-created content such as incident flows, playbooks, and integrations ensures that SOAR can be as specific or generic as an organization wants it to be."<h2>Barriers to flight</h2>While SOAR offers the promise of automating security, it's not always an easy sell for companies to actually entirely adopt. Jason Mical, Cyber Security Evangelist at Devo Technology explained that in his experience, the "O" and the "A" of SOAR are heavily embraced. It's the "R" - response - that is the biggest barrier for two reasons: Technical and Cultural. "Organizations are reluctant to adopt automated response because of the potential risks to the organization based on a false positive that is triggered from a source technology," he said.For example, a service disruption could happen because the playbook automated response says to immediately remove the entity from the network - but the entity could have been a company's critical web server hosting their technology. Mical commented that the way that security teams are overcoming this challenge is by adapting SOAR in phases and not immediately relying on automated responses, until the system is trained and trusted.For ForgePoint Capital's Lin, there is a different barrier to adoption that he sees for SOAR and that's actually getting it into production."SOAR is built on top of other solutions," Lin said. "Building the maturity across those other solutions and SOAR itself is time and expertise intensive."<h2>VCs following the money</h2>Though there are challenges, there is also a robust opportunity for SOAR. Saurabh Sharma, a partner at Jump Capital commented that the market for SOAR is still in its infancy and set for explosive growth, with Gartner predicting 30% adoption by 2022 up from just 5% today.Sharma isn't just talking about the growth: he's putting money on the table too, with Jump Capital investing in SOAR startup Siemplify. Among the reasons why he invested is because of the market opportunity that is growing fast for a universal paint point - namely the need to automate and improve security operations.SOAR is an additive piece of technology for security teams, but its value proposition is very different than other cybersecurity technologies, in Sharma's view. He noted that most additive security tools are essentially an additional "lock on the door," which is a tough sell today as companies have already invested in dozens of security tools that they struggle to operationalize. "At its core, SOAR helps orchestrate the tools you already have and automate repetitive tasks so you can maximize the investments you have already made and enable your overstretched security team to get more done," Sharma said.SOAR is still a nascent category, with a few acquisitions in the space already and possibly more to come in the years ahead. For Sharma, it's the independent SOAR providers that are innovating more quickly. Overall he also sees SOAR expanding to address more use-cases than it does today."We see SOAR getting smarter by leveraging the fact that analyst interactions are now captured in a single platform to drive actionable insights," Sharma said. "Additionally, we see SOAR extending to address the breadth of security use cases to become a true platform that runs security operations for both end-user and managed services security teams."<h2>The future of SOAR</h2>A big part of what makes SOAR work for companies is that it automates tasks. Swimlane's Cornell emphasized that automation as a concept is of course not new. "We use automation every day in manufacturing, shipping, and other sectors, and we have for decades," Cornell said. "Rather than thinking about automation as a single product category, we should be taking automation and applying everywhere we need security."IBM Resilient's Julian also expects that in the near future, the SOAR market will actually expand outside the realm of traditional security operations to bring orchestration to the broader IT and technology landscape. In other words, the technologies at play with SOAR could also be put to work helping manage applications running in and across the cloud."We see SOAR providing a foundational technology backbone for next generation, unified, security platforms that will connect the full security stack and do so across hybrid, multi-cloud environments," Julian said. "The SOAR platform will do the hard work of managing complexity across this dynamic and diverse infrastructure, thereby freeing the customer to focus on what they need from security to enable their business."Get the latest IBM stock price<a href="http://markets.businessinsider.com/stock/ibm-Quote"> here.</a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/singles-day-alibaba-25-billion-largest-shopping-holiday-2018-11">How Alibaba turned a fake holiday into a $25 billion shopping extravaganza that's bigger than Black Friday and Cyber Monday combined</a></h3>

Here's why companies are spending hundreds of millions on cybersecurity startups built on SOAR, a tech trend that automates the tricky business of guarding against threats

Companies and startups are ready to raid engineering and <a href="http://www.businessinsider.in/searchresult.cms?query=B-school+">B-school</a> campuses across India this placement season, adding to the fierce war for talent already raging between large e-Commerce companies and established old-world recruiters. 
 
The startups which are looking for fresh talents include ShopClues, LocalOye, Urban-Clap, PropTiger, Indus Insights, MyRefers, CodeNation, Embibe, Jombay, Lybrate and ShadowFax. 
 
Moreover, a survey of 11 startups suggests they will step up overall <a href="http://www.businessinsider.in/searchresult.cms?query=campus+hiring+">campus hiring</a> to 770 students from the Class of 2016 compared with only 250 that they hired from the last batch. 
 
Bulk of this hiring will be across top engineering colleges and B-schools, including Indian Institutes of Technology, National Institutes of Technology and Indian Institutes of Management. 
 
Don’t be disappointed if you are not studying in the above mentioned institutes as a handful will also recruit at leading undergraduate colleges including Shri Ram College of Commerce, Lady Shri Ram College and St Stephen's, and design schools such as National Institute of Design and National Institute of Fashion Technology. 
 
Now comes the most interesting part- salary! Average salaries offered by these startups range between Rs 12 lakh and Rs 18 lakh at engineering colleges and B-schools, say campus sources. Prop-Tiger, for instance, is paying upwards of Rs 15 lakh plus benefits at tech schools; CodeNation will pay around Rs 24 lakh. 
 
At least three of these startups — Lybrate, LocalOye and ShadowFax — are first-timers on campus while others, at the very least, are doubling last year's numbers. In some cases, hiring targets are going up five-fold or even 16-fold compared with last year. 
 
The strategies behind the hiring are discussed below: 
1. Depending on the kind of institutes, students are being hired for a variety of roles: from <a href="http://www.businessinsider.in/searchresult.cms?query=software+development+engineers">software development engineers</a>; core management &amp; data scientists; product, operations and marketing; merchant acquisition and servicing, to human resource management, product and graphic designers and even entrepreneurs in residence. Sanjay Mehta, a Mumbai-based angel investor who participated in and led 11 angel deals in 2015, says the reason why startups are so gung-ho about <keyword id="511161" type="UNKNOWN" weightage="80" keywordseo="campus-hiring">campus hiring</keyword> is because they want to put this talent to work on cutting-edge technology and new delivery models. Not surprisingly, several institutes where placements have started, including Birla Institute of Technology &amp; Science-Pilani and <keyword id="75110" type="ORGANIZATION" weightage="80" keywordseo="NITs">NITs</keyword>, are seeing these startups go head-to-head with <a href="http://www.businessinsider.in/searchresult.cms?query=traditional+recruiters+">traditional recruiters</a> to hire talent. At other B-schools and <keyword id="49737" type="COMPANY" weightage="100" keywordseo="IITs">IITs</keyword> where pre-placement offers (PPOs) have started flowing in, it is again the startups that are leading the pack. 
 
2. Much high in numbers: The numbers speak for themselves. If ShopClues is revising its hiring intake from around 100 last year to 180-250 this time, realty portal PropTiger is doubling its target to 50. Even five-month-old B2B (business-to-business) hyperlocal delivery startup ShadowFax, which raised $300,000 from <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal">Snapdeal</a>'s founders and others in August followed by a $8.5-million Series A round by Fidelity's proprietary investment arm Eight Roads Ventures barely a month later, is looking to hire from IITs, <keyword id="46923" type="ORGANIZATION" weightage="100" keywordseo="IIMs">IIMs</keyword> and other leading management institutes for its technology, data science and operations teams. 
 
3. Tapping more institutes: In the process, these companies are reaching out to many more institutes this year. "If there is a campus that attracts bright minds of the country, we want to be there. This includes other engineering colleges as well as top colleges in economics and commerce," says Saurabh Sharma, founder &amp; chief executive officer of Indus Insights. The Big Data firm made 40 offers last year, mostly at the top IITs (Bombay, Delhi, Madras). This year, it plans to make 100-plus, including at NITs (Trichy, Warangal, etc), SRCC, LSR, Christ College and Indian School of Business. 
 Similarly, Delhi-based mobile services marketplace UrbanClap, which hired 30 business development and operations specialists from <keyword id="6360099" type="ORGANIZATION" weightage="80" keywordseo="Delhi-University">Delhi University</keyword> last year, is extending its reach to several new institutes, including <keyword id="6431668" type="ORGANIZATION" weightage="100" keywordseo="IIT-Delhi">IIT-Delhi</keyword> and IIM-Ahmedabad as it gears up to take on 80-100 this year. 
 
Salaries apart, the other drawing factors include the opportunity to work on challenging problems. "We don't have any glass ceilings. Freshers could be running entire teams within six months of joining," says Aditi Avasthi, founder and CEO, Embibe. "Students are opting for startups aggressively as some of the roles offered by them are quite challenging and inclined with their aspirations," sums up Rahul Katyal, placement manager at IIT-Bombay. 
 
(Image: Indiatimes)

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