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Access Control

Features that enforce restrictions on access to banking systems, data, and infrastructure, ensuring only authorized users and devices can interact with sensitive assets.

API Key Management: Secures and controls access to APIs.
Access Logging: Records all access attempts for audit trails.
Device Whitelisting: Restricts access to approved devices only.
Geolocation-based Access Restrictions: Limits access based on user's physical or network location.
Granular Permission Levels: Supports fine-grained permissions per function.
Multi-factor Authentication: Requires multiple forms of verification before granting access.
Number of Supported Authentication Methods: The total number of different authentication methods available (e.g., biometric, SMS OTP, hardware key, etc.).
Privileged Account Management: Controls and monitors elevated permissions.
Role-Based Access Control: Grants permissions based on user roles and responsibilities.
Single Sign-On (SSO): Allows users to authenticate once for multiple applications.
User Session Timeout: Automatically terminates inactive sessions.

Application Security

Mechanisms to secure web, mobile, and desktop banking applications from vulnerabilities and attacks.

API Security Controls: Protects and monitors API endpoints.
Automated Patch Deployment: Deploys application security patches automatically.
Code Obfuscation: Makes application source code harder to reverse-engineer.
Dynamic Application Security Testing (DAST) Integration: Integrates tools for runtime security testing of applications.
Number of Supported Programming Languages: The range of programming frameworks or languages natively supported for secure app development.
Regular Penetration Testing: Conducts simulated attacks to find weaknesses.
Secure Coding Standards Enforcement: Ensures adherence to secure development practices.
Session Management Security: Protects active user sessions against hijacking.
Vulnerability Scanning: Regularly scans for known security weaknesses.
Web Application Firewall (WAF): Protects web applications from common exploits.

Data Protection

Measures to safeguard sensitive banking data at rest, in transit, and in use, ensuring confidentiality and integrity.

Audit Logging: Maintains comprehensive logs of data access and changes.
Automated Key Rotation: Automatically rotates cryptographic keys at defined intervals.
Data Backup Frequency: Frequency at which backups of critical data are performed.
Data Loss Prevention (DLP): Prevents unauthorized data transfer or loss.
Data Masking: Obfuscates sensitive data in non-production environments.
Database Encryption: Encrypts stored data in databases.
End-to-End Encryption: Encrypts data during all states and transfers.
File Integrity Monitoring: Detects unauthorized changes to critical files.
Retention Policy Management: Controls how long data is kept and when it is deleted.
Tokenization: Replaces sensitive information with random tokens.

Endpoint Security

Measures for securing user devices (workstations, laptops, mobile devices, ATMs) that connect to the banking system.

Anti-malware Protection: Prevents malicious software from infecting endpoints.
Application Whitelisting/Blacklisting: Controls which applications can be installed or run.
Device Control: Restricts usage of external devices like USB drives.
Endpoint Detection and Response (EDR): Monitors endpoints for threats and suspicious activity.
Endpoint Isolation: Allows quick quarantine of compromised devices.
Endpoint Policy Enforcement: Automatically enforces security policies on all endpoints.
Mobile Device Management (MDM): Secures and manages mobile endpoints.
Number of Devices Supported: Maximum number of endpoints protected by the solution.
Patch Management: Automates the distribution of security updates.
Remote Wipe Capability: Erases data from lost or stolen devices remotely.

Fraud Detection and Prevention

Features aimed at detecting and preventing unauthorized or fraudulent banking activities.

Behavioral Analytics: Analyzes user behavior for anomalies indicative of fraud.
Case Management: Tracks fraud investigation from detection to closure.
Detection Speed: Average time taken to detect suspicious activities.
Device Fingerprinting: Identifies repeat or suspicious devices.
False Positive Rate: Percentage of transactions erroneously flagged as fraud.
Geolocation Verification: Checks if transactions originate from expected regions.
Integration with Core Banking Systems: Supports real-time integration with existing banking infrastructure.
Machine Learning Models: Uses AI models to identify emerging fraud techniques.
Rule-based Alerts: Generates alerts based on pre-set fraud rules.
Transaction Monitoring: Monitors transactions in real time for suspicious patterns.

Identity and Access Management (IAM)

Solutions that centralize the management of user identities, authorizations, and credentials.

Access Certification: Regularly reviews and certifies user privileges.
Centralized User Directory: Maintains a single source of truth for user authentication.
Credential Encryption: Ensures user credentials are encrypted at rest and in transit.
Federated Identity Support: Allows use of external identity providers (SAML, OAuth, etc.).
Group Management: Supports management of user groups and access policies.
Identity Federation Integrations: Number of external identity federations supported.
Password Policy Enforcement: Automatically applies strong password requirements.
Self-service Password Reset: Allows users to reset passwords without admin assistance.
User Access Review Automation: Automates periodic reviews of user access rights.
User Provisioning and Deprovisioning: Automates onboarding and offboarding staff access.

Monitoring and Reporting

Features that provide visibility into system health, security events, and compliance through dashboards and reports.

Alert Threshold Customization: Enables setting of specific alert thresholds.
Audit Log Integration: Centralizes logs from various sources.
Automated Reporting Frequency: How often reports are automatically generated.
Custom Alert Channels: Supports multiple channels for alerting (email, SMS, app).
Customizable Reports: Allows users to define and schedule security and compliance reports.
Historical Data Retention: Keeps historical security data for analysis.
Real-time Dashboards: Visualizes live security and system data.
Report Retention Period: Length of time reports are stored and accessible.
Third-party Log Integration: Integrates with external log and monitoring providers.
User Activity Monitoring: Tracks user activities for policy violations.

Network Security

Tools and mechanisms to protect internal and external banking network communications from unauthorized access and cyber threats.

Bandwidth Monitoring: Monitors bandwidth utilization for anomalies.
Deep Packet Inspection: Examines traffic for threats beyond simple packet headers.
Distributed Denial of Service (DDoS) Protection: Detects and mitigates DDoS attacks.
Encrypted Network Traffic: Ensures all internal and external communication is encrypted.
Firewall: Provides perimeter security by filtering incoming and outgoing network traffic.
Intrusion Detection System (IDS): Monitors and detects malicious network activity.
Intrusion Prevention System (IPS): Blocks and prevents detected threats.
Network Segmentation: Divides the network into separate zones for better security.
Network Traffic Analysis Capability: The number of simultaneous connections that can be analyzed.
Virtual Private Network (VPN): Secures remote access to banking resources.

Regulatory Compliance

Assists banks in maintaining alignment with legal and regulatory cybersecurity standards such as PCI DSS, GDPR, and FFIEC.

Audit Trail Management: Maintains immutable logs for audit purposes.
Automated Policy Management: Automates the application and monitoring of compliance policies.
Compliance Workflow Automation: Automates workflows to meet compliance requirements.
Data Residency Controls: Specifies where data can be stored based on regulations.
Prebuilt Compliance Reporting: Offers reports tailored for key banking regulations.
Regulatory Change Monitoring: Tracks changes in relevant regulations and standards.
Regulatory Coverage: Number of major regulations covered out-of-the-box.
Retention Policy Automation: Automatically applies data retention and deletion policies.
Secure Document Management: Secure storage and retrieval of compliance documentation.
Self-assessment Tools: Allows internal audits for compliance readiness.

Resilience and Recovery

Capabilities that enable continuous banking operations and effective recovery from cyber incidents and system failures.

Automated System Failover: Automatically switches to backup systems on failure.
Automated System Health Checks: Monitors backup and resilience readiness automatically.
Backup and Restore Automation: Automates data and system backup/restore processes.
Business Continuity Management: Ensures continued operations during disruptions.
Disaster Recovery Planning: Provides tools for planning and testing disaster recovery.
Ransomware Recovery: Supports fast recovery from ransomware attacks.
Recovery Point Objective (RPO): Maximum acceptable amount of data loss after an incident.
Recovery Time Objective (RTO): Target time to restore function after disruption.
Resilience Testing Support: Enables regular testing of resilience and recovery plans.
Service Level Agreement (SLA) Monitoring: Tracks compliance with recovery SLAs.

Threat Detection and Response

Capabilities that identify, analyze, and respond to potential cyber threats across the banking IT ecosystem.

Automated Compliance Reporting: Generates regulatory and incident response reports automatically.
Automatic Threat Remediation: Responds to detected threats without manual intervention.
False Positive Rate: The percentage of security alerts that are determined to be benign.
Incident Response Playbooks: Provides pre-defined procedures for common security incidents.
Real-time Alerting: Notifies security personnel immediately upon threat detection.
Security Information and Event Management (SIEM): Aggregates, analyzes, and alerts on security events.
Threat Intelligence Integration: Ingests external threat intelligence feeds.
Threat Simulation and Red Team Testing: Supports simulated attacks for evaluation.
Time to Detect: Average time between threat occurrence and detection.
Time to Respond: Average time between detection and mitigation.

Cybersecurity Solutions features explained

for IT and Infrastructure