Updated: Sep 4, 2022
Digital is the New Normal…Are You Safe?
We are living in a vastly evolving time, where new technology is being discovered every day. There is no doubt that most systems are becoming digital. In order to grow, whatever a company's future goal is, it must involve digital transformation. Even before the pandemic, new and innovative technologies were quickly entering any business, allowing them to innovate and prosper in a more digital world. Therefore, technology is clearly not a "choice" in this new digital world, but rather a core business strategy that must be integrated into every aspect of an organization. This transformation to the digital world raises issues regarding attacks on any unprotected system that hackers may find. Which makes cybersecurity a necessity in any organization making that transition. Cybersecurity is the process of preventing harmful attacks on networks, computers, and other digital infrastructure.
Setting up Cybersecurity for a Malaysian Bank
Banking systems need to be one of the highest protected systems in the world, since every user of that bank is trusting it with their money. A bank's reputation could easily get tarnished if their systems got breached by malicious attackers, which could cause people to lose their money. Firstly, the bank would need to set a baseline of what aspects need protection, which would include the clients personal and transactional data. Strategies and roadmaps would need to be incorporated accordingly, which would mean following the Risk Management in Technology (RMiT) guidelines set by Bank Negara Malaysia. However, setting up a cybersecurity department from scratch could cause many inconveniences. Firstly, the set up costs are high, meaning that acquiring the basic essentials of a cybersecurity setup would initially be expensive and upgrading in the future could also be a challenge to keep up with technology and a competitive job market.
After that, if a brand new system is incorporated, it would need to remain operating 24/7, as attacks can come at any second. This system would also need to stay updated and patched regularly, as cyberattacks are always evolving to find ways to bypass any security and get what they want. All of the above mentioned areas of running a cybersecurity department from scratch could be tedious and catastrophic if incorporated incorrectly. To avoid such issues, banks could look for a professional service provider of information security services, to manage specific elements of cybersecurity operations. This approach is known as CyberSecurity as a Service, or CSaaS.
Complete. Modular. On Demand. Via Platform
As the bank takes this step, they would need to look for a cybersecurity player who would fit their infrastructure most in the vast market. Upon research, most providers focus on one or two particular areas in cybersecurity. Nexagate on the other hand, provides complete cybersecurity services in all three major cybersecurity pillars, namely Security Risk & Compliance, Technical Security and Managed Security.
Nexagate's services are provided based on a modular basis, meaning that Banks can choose relevant services based on their current maturity based on the RMiT Checklist. It is always on demand, meaning that the services can be accessed from anywhere at any given time via a 24/7 Cyber Fusion Centre (CFC). One of the major services that Nexagate provides is an entire platform, called NSI which provides visibility to Banks with regards to their posture based on cybersecurity initiatives.
Your Trusted CyberSecurity Partner
We at Nexagate believe that time is a valuable asset that you cannot afford to lose. Choosing Nexagate, would mean optimising resources and focusing on what matters : your stakeholders. As we provide services for 3 main cybersecurity pillars, you would be able to consolidate your cybersecurity management and have better visibility of the Cybersecurity Maturity Roadmap. We provide meaningful information and present it via our platform, NSI. Think of Nexagate as your very own cybersecurity department for a fraction of what it would actually cost to make one - It is efficient, it is seamless and most importantly, it is secure.
Contact us for a consultation session with regards to implementing cybersecurity solutions based on your own maturity, be it from the perspective of people, process, and/or technology.