Cisco deploys cybersecurity solution to Sharjah-based Invest Bank

ciscoA major roadblock to digital innovation in banks is the fear of a data breach as well as the resulting regulatory fines. (Image source: Pete Linforth/Pixabay)Cisco and Invest Bank PSC, a leading commercial bank in Sharjah, has announced the successful deployment of Cisco’s comprehensive cybersecurity solutions including Cisco® Advanced Malware Protection (AMP), to support the bank’s digital transformation strategy

Invest Bank’s digitisation strategy addresses fast-changing customer expectations and the massive opportunities created by the digital era, including the possibility to offer differentiated customer experiences across multichannel platforms. Amidst increasing cyber threats, the UAE bank also acknowledged the need to establish pervasive security as a foundation for their digital capability and as an enabler of their continued evolution and growth.

“As we expanded our mobile digital network and internet banking services, we sought to establish a robust security framework that underlies every aspect of our digital transformation,” said Sami Farhat, CEO of Invest Bank.

“Cisco’s comprehensive cybersecurity portfolio provided us with a multi-pronged approach that spans the full attack continuum and is able to offer the highest level of protection for our assets, data and operations,” Farhat added.

Amidst a threat environment marked by increasing cybersecurity complexity and a growth in breaches, Invest Bank needed an easy-to-manage solution that could deliver consistent protection and service across all locations. Cisco’s solution includes the intelligence-powered Cisco® AMP for Endpoints, a next-generation security solution that prevents, detects and responds to advanced threats. The security solution incorporates intrusion prevention, system recovery, analytics insight, as well as monitoring and authentication.

A major roadblock to digital innovation in banks is the fear of a data breach as well as the resulting regulatory fines. In a Cisco study, 71 per cent of banking executives said that concerns over security are hindering their ability to innovate and 39 per cent said that they have stopped a mission-critical initiative because of security problems.

Fady Younes, deputy managing director and operations director for the east region in Cisco Middle East, said, “As the financial services industry embraces digital transformation, it faces new cybersecurity challenges that require the adoption of a holistic cybersecurity framework. Cisco’s approach is to integrate security into the network to help create a fully secured environment which is not only capable of preventing a breach or attack but in case of one occurring, also resilient enough to stop further proliferation.”

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