The integration of security into the development process has led to a natural merging of the Chief Technology Officer and Chief Information Security Officer roles
In the high-stakes world of financial technology, the traditional lines between business, technology, and regulation are blurring at an unprecedented pace. Today’s Chief Technology Officer (CTO) is no longer solely focused on building faster, more efficient platforms. They are now at the vanguard of a new, complex challenge: weaving security and compliance into the very fabric of their digital infrastructure.
In an exclusive Interaction with BW Security World, Mr. Yogesh Jadhav, CTO, Choice Group, shed light on this profound shift, arguing that the modern CTO’s role has transformed from a builder of solutions into a strategic guardian of the enterprise.
Security as Core Business Driver
According to Mr. Jadhav, the era of treating compliance as an afterthought is over. “Every decision that we take now is primarily driven by compliance,” he states. Just a few years ago, technology decisions were evaluated on their potential to increase revenue or efficiency. Today, the first question is always about security and regulatory adherence.
To meet this challenge, Choice Connect has adopted a “shift-left” approach, embedding security from the design phase of every project. This is a significant departure from the old model where security checks and audits were performed only after a system had already been built. “We have realised that this won’t help us scale because it has added quite a lot of friction as well as overhead, cost as well as time,” Mr. Jain explains. By addressing potential vulnerabilities from the start, companies can avoid the much higher cost and time required to fix issues post-launch.
Merging Roles of CTO and CISO
The integration of security into the development process has led to a natural merging of the Chief Technology Officer and Chief Information Security Officer roles. Mr. Jadhav notes that as a CTO, he now leads conversations with the business team that dedicate a “big chunk” to risk assessment for any new requirement.
He poses a fundamental question for every new feature request: “Do you really need it?” This is because every new interface or functionality adds complexity and, more importantly, a new layer of risk. As data becomes more interconnected across platforms—from trading to insurance and mutual funds—the potential for exposure grows exponentially. This necessitates a proactive approach where teams are trained to identify and mitigate risks from day one.
Collaborative Approach to Compliance
Navigating the labyrinth of standards like ISO 27001 and PCI DSS can be a nightmare for any company, especially startups. Mr. Jadhav cautions against viewing these certifications as mere hurdles. Instead, he advocates for a collaborative, company-wide effort.
He describes a successful strategy of forming cross-departmental committees with key stakeholders from HR, admin, and technology. This approach ensures that everyone understands the purpose behind a new compliance rule, rather than simply being ordered to follow it. “Having committees that are basically driving the compliance across departments has helped us,” he says. This shared responsibility reduces friction and ensures that security is a collective goal, not a siloed function.
Balancing Innovation and Security
A common concern is whether this intense focus on security slows down innovation. Mr. Jadhav acknowledges that it has, admitting, “It has added to our cost in the recent times. We have become slow in terms of delivery.” However, he views this as a deliberate and necessary trade-off for long-term stability.
To maintain a competitive edge, his team balances this by using a strategic approach to product development. They first build and test a Minimum Viable Product (MVP) with non-critical data. Only after positive feedback and a clear business case do they proceed to a full-scale development cycle, where security measures like data encryption are meticulously implemented. This “prevention is better than cure” philosophy ensures that the core product is sound before it is scaled.
Crucial Role of In-House Talent
On the topic of outsourcing, Mr. Jadhav warns against blindly delegating cybersecurity. While he sees the value of third-party tools and services for things like Security Operations Centers (SOCs) and penetration testing, he stresses the critical role of in-house talent.
He argues that a significant “skill gap” exists in the market. “You need to have two or three good guys who understand the core fundamental of security,” he insists. Without internal expertise that understands the organization’s unique ecosystem and DNA, a company can never truly get value from its security investments. These key individuals act as a bridge between external vendors and internal teams, ensuring that alerts are not ignored and that security is integrated into day-to-day operations.
For new FinTech startups, Mr. Jadhav’s advice is clear: security is not an afterthought. It is a fundamental part of the business model that must be embraced from the very beginning to ensure long-term sustainability and trust in a highly regulated and competitive market.