Currently, war has become an economic, digital, supply chain, and currency system oriented war, banking sector is also transformed. Economic sanctions and changes in the global payment system, disruptions in payment switch/ATM networks due to cyber attacks, and massive fake traffic disrupting bank websites, apps & servers are the consequences. To overcome this mock drills of cyber attacks and continuous verification of each 'user' and scam are essential. During wartime, user KYC, treasury, and bank settlement data is considered a national asset. The immediate impact of war is inflation and an increase in insurance costs. As a result, prices rise, and other factors like interest rates, the supply chain, and foreign currency are disrupted.
It has now been four years since the Russia-Ukraine war began. The main cause of the war is that Russia does not want Ukraine's efforts to join NATO and wishes to maintain its influence over Ukraine. Additionally, Russia wants a buffer zone so that the influence of America and Europe can be blocked...(To read more, open the Banco Anniversary Special Issue, May-June 2026)