Legacy financial institutions in India are increasingly partnering with data analytics startups to bolster their defenses against rising attacks on the country's digital banking ecosystem. Concurrently, Google has announced significant changes to its 2-factor authentication (2FA) setup process, aiming to enhance user control and security. The updated 2FA system now allows the use of authenticator apps or security keys directly, eliminating the need for SMS codes. This shift comes as digital transactions in India grow, accompanied by escalating threats of fraud, with scamsters recently managing to bypass 2FA protections, leading to substantial financial losses.