Partnering The Vision of A New India

On 15^th August 2021, as India celebrated its 75^th Independence Day, the Government declared ‘Amrit Kaal’ or ‘Auspicious Time’ for the nation’s growth over the next 25 years.

Digital India’s relentless push has redefined the way it engages with the citizens. More importantly, digital transformation has widened India’s possibility of innovation in every aspect of its economic engine and even optimization of resources, currently being pursued across sectors and industries ranging from manufacturing, agriculture, healthcare, retail, financial services, banking, national defence, and security to public utilities. Hitachi has been partnering the government and industry in realizing this transformation.

At the forefront of its revolutionary Social Innovation Business harnessing Information Technology (IT), Operational Technology (OT), Internet of Things (IoT) and big data analytics, Hitachi solutions are relentlessly simplifying and making governance processes more efficient. Delivery of government services are being made more effective across various domains and to end-users. Digital transformation from the top is helping streamline government operations, reduce costs, and create transparency for end-users and citizens. It is aiding industries in equal breath.

Aligned to India’s ascending global stature, digitalization is emerging as the center-point to deliver services and solutions wherein mobile devices are claiming to play a larger role in banking and commercial transactions. The transition has propelled a massive amount of sensitive and personal data into the virtual space heightening the demand for robust cyber-security solutions that ricochet the lurking intruders.

The Threat is Real -

eCommerce data breach represents 80% of payment-card-related investigations.¹

The cost of cyberattacks is most noteworthy in the banking industry, coming to $18.3 million annually per company.¹

More than 500 million users don’t realize their device is corrupted with crypto-mining software.¹

Worldwide spending on cybersecurity is projected to surpass $6 trillion by 2021.¹

RBI in its financial stability report stated that banking sector is a target choice for cyber-attactks and what measures they’ve taken and advised banks to ensure preparedness.²

The Emergence of Virtual Ambush

The strong headway in operational and digital technologies has hastened the access to ‘anywhere-anytime’ banking for citizens through mobile devices and internet. To maintain competitive edge and efficiently meet the heightened economic activities at all levels has prompted the service providers to persistently work towards upgradation of technological infrastructure. Though this constant digital evolution in banking is aimed towards delivering improved services to the clients, the exposure to cyber-attacks has increased manifold. With abundance of personal information on the virtual space, the banking institutions are constantly on toes to repel cyber- attacks. By appropriating vital information of banks and customers the perpetrators of these online incursions have demonstrated precedence of inflicting heavy financial losses and decline in institution’s trustworthiness.

From a customer standpoint, Hitachi’s prowess to build a complete infrastructure management suite powered by Artificial Intelligence (AI) and Machine Learning (ML) is helping to empower, embrace, and approach the change and opportunities in the banking industry. Guided by the mission of promoting Social Innovation Business in India, which leads to powering good’ for the larger benefit of the society.

Hitachi Systems India Pvt. Ltd. has been committed towards delivering large infrastructural, social, and institutional solutions. The underlying philosophy has always been about bringing ‘human-centric innovations’ by putting the customer at the core of a business strategy.

In the banking sector, Hitachi has helped effective transformation in yet another large financial institution with three divisions -- Domestic, Foreign and Regional Rural Branches with a disparate network of more than 50,000 endpoints and 1200 servers. As cybersecurity threats evolve & become more sophisticated, one of India’s leading nationalised bank wanted to invest and strengthen the pillars of cybersecurity – People (skilling & re-skilling of the workforce), Processes (strong cyber laws), and Technology. The banking sector continues to lay greater emphasis on providing improved services to their clients and upgrading their technology infrastructure to enhance customers’ overall experience as well as ensure a competitive edge. However, cyber-attacks have become the cause of concern for the banking industry. As the bank accounts carry personal and financial information of citizens, if disregarded these cyber-attacks can cause substantial financial losses for the customer as well as the banks through false transactions.

With such a large attack surface to cyber exposure, Hitachi Systems India Pvt. Ltd. worked on multi-layered security solutions comprising of 9 various security technologies securing the digital transformation journey of the bank. The solutions gave full visibility to the sophisticated threats & enabled customer to respond quicker & with precision than ever before. This has also enabled customer to comply with regulations [Compliance and Governance] such as Reserve Bank of India (RBI), PCI-DSS, ISO27001, FISMA, NIST framework.

Hitachi Systems leveraged its complete cybersecurity solutions to secure the 3 W’s of businesses – Work, Workplace, and Workforce. Hitachi will continue to support the deployed solutions for the next five years by engaging engineers onsite [24x7] who will be managing, administering, and monitoring the solutions proactively.

Digitally Globalizing Nation’s Banking Infrastructure

Hitachi India with its legacy of pioneering OT x IT solutions is at the forefront of empowering leading banking institutions in India with robust cyber – security solutions are repelling even the most advanced web-based threats. Equipped with quick response capabilities Hitachi’s solutions comprehensively addresses the challenge by securing the 3 Ws of businesses – Work, Workplace and Workforce.

To ensure a clean-sweep protection mechanism Hitachi is leveraging its widely recognized proficiency in Data Loss Prevention (DLP), Server Security, Endpoint Detection & Response (EDR), Deception Technology, Secure Socket Layer (SSL) inspection, Firewall Analyzer, Security Orchestration, Automation and Response (SOAR), Packet Capture and Risk Management Solution.

The Synergy of Solutions Behind the Wall -

DLP

Data Loss Prevention Software detects potential data breaches and prevents them by monitoring, detecting and blocking sensitive data while in use, motion, and at rest.

Server Security

Covers the processes and tools used to protect the valuable data and assets held on an organization's servers, as well as to protect the server's resources.

EDR

Also known as Endpoint Threat Detection and Response (ETDR), it is an integrated endpoint security solution that combines real-time continuous monitoring and collection of endpoint data with rule-based automated response and analysis capabilities.

Deception Technology

A potent tool for cyber security defense, Deception Technology solutions detect, analyse and protect against zero-day and advanced attacks with near real-time response.

SSL

A cryptographic protocol, it is designed to assist in securing communication and incoming traffic.

Firewall Analyzer

A vendor-agnostic software that supports multiple firewall vendors, it is an agentless log analytics and configuration management software that analyses logs from firewalls and generate real-time alert notifications.

SOAR

These platforms are a collection of security software solutions and tools for browsing and collecting data from a variety of sources. SOAR facilitates collection of threat-related data from a range of sources and automates the responses to the impending threat.

Packet Capture

A computer program or hardware solution that intercepts and logs traffic that passes over a computer network or part of a network.

Risk Management Solution

Analytical in nature, it consists of an enterprise software that enables organizations to efficiently manage risk. It leverages existing data or projections to help leadership identify risks and swiftly undertake suitable measures to shield against probable catastrophe/ predicament.

The bouquet of multi-layered solutions offers full visibility to the sophisticated threats and enable precise and faster response that is proactive in place of the traditional reactive measures.

Thus, this 360° interlacing protective approach is enabling banks to deliver the services to their domestic and international customers in a more secure manner.

While these end-to-end solutions are enhancing Social, Environmental and Economic values of the customers in synergy with improving Quality of Life, it is an assured leap towards globalization of banking system for an emerging global economy.