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Kotak Mahindra Bank
KMB decided to adopt a new model for information security, which is based on three key criteria: holistic, continual and integrated NWC News Network, 6/1/2009 12:00:00 AM
    

Managed security model boosts customer confidence
Snapshot
Company: Kotak Mahindra Bank
Project: Managed security model
Project Lead: Sanjay Belsare
Ensuring the security of banking transactions and customer privacy seems to be a norm at Kotak Mahindra Bank (KMB). However, as the threat landscape changed, and more high-profile attacks emerged, KMB felt that the current model of information security was inadequate to meet future security challenges.
KMB decided to adopt a new model for information security, which is based on three key criteria: holistic, continual and integrated. It realized that the Managed Security Services model could help it leverage the expertise of professionals or specialists without having to worry about attracting and retaining talent; sophisticated tools could be quickly deployed to control and monitor the security landscape. A new security project was undertaken and made operational in 2008. Over the last year, this initiative has enabled the bank to manage risks to an acceptable level.
Post implementation, KMB is proud to be one of the first banks in the region to have successfully implemented the Assurance Model for Managed Security Services. This model is outcome/result-based instead of being activity-based (as done at most banks). In partnership with Paladion Networks, KMB considers this to be a unique Managed Security Assurance Model with outcomes closely aligned with SLAs.
With the new system, the response time to new threats has improved significantly. This has instilled confidence in customers and the number of online transactions has soared. There is zero downtime from security-related incidents. Further, proactive monitoring of phishing sites has helped reduce the time to bring down phishing sites, to less than four hours.
Highlights
  • Zero loss from phishing incidents
  • Less than 30 minutes average response time for attacks on security infrastructure


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