Data protection and the secure authentication of customers is of enormous importance in many industries. However, customer trust and therefore data protection is particularly important and significant in the banking sector. This requirement affects both large banks and specialist financial service providers whose core business focuses on niches in the market. To meet compliance requirements, ensure efficient and secure access to confidential data and protect web applications, many national and international providers already rely on the USP Secure Entry Server® from United Security Providers.
Challenges in banking
Banks are always on the radar of users, the media and even potential cyberattacks when it comes to data security, user administration and access rights, as well as the handling of data entrusted to them. They therefore have to deal with these issues particularly intensively. Nowadays, bank customers expect services that are available everywhere at all times – without having to worry about how security policies are implemented in the background. Banks are therefore required to offer their web applications and online services quickly, easily and securely, while complying with the legal framework. This is a balancing act if ease of use for customers is not to be lost sight of.
Customer expectations of specialist banks
A customer from the international specialist banking sector, with specialized banking, wealth & investment and asset management services, approached United Security Providers with precisely this issue. As part of the implementation of its digitalization strategy, web access management is becoming a central component so that the bank’s processes and services can be “extended” to customers and partners and offered as digital services.
The bank’s challenge was to reconcile its customers’ expectations regarding the confidential handling of their sensitive data with the bank’s compliance requirements and the legal framework.
United Security Providers as a digitization partner
The bank uses the “BaNCS” system from Tata Consulting Service and the ePortfolio module as its core banking application, which customers can access securely around the clock from anywhere in the world using a wide variety of devices. Customers log in to their personal ePortfolio via the bank’s core banking application. For the end customer, the way in which they access their bank accounts is technically irrelevant – the expectation, however, is that the login will authenticate them securely and adequately on the bank side due to the stored certificates. Data protection is guaranteed by the bank provider.
As an integration partner, Swisscom was able to transfer the existing configuration of the specialist bank’s IT infrastructure to the Swisscom (Switzerland) data center without interruption – United Security Providers was given the task of securing the bank’s login model and protecting the core banking application with the USP Secure Entry Server®.
In addition to the web application firewall, which protects the application landscape and detects anomalies, the USP Secure Entry Server® also offers an integrated authentication service: the two-factor authentication (2FA) used allows bank customers to securely access their personal ePortfolio. In this way, United Security Providers creates the technical prerequisite for the bank to be able to decide who can access which data and how. Web applications and web services of the specialist bank are thus protected and secure access is guaranteed.
For the international specialist bank, this ensures that the security of sensitive data is guaranteed and regulatory requirements are met at the same time. The “ePortfolio” module, which is used by a large number of banks, can be easily integrated into the USP Secure Entry Server®.
Conclusion
Working with a cyber security service is a huge advantage for banks. For companies of this size and with a high level of risk, it is essential to be able to count on an infrastructure that is available at all times. Specialists operate and monitor the security infrastructure around the clock. With Managed Security Services, availability is guaranteed at all times, allowing the bank to concentrate on its core business.