Credit Information Bureau India (CIBIL), has selected IBM Security to strengthen security and protect their critical business systems from cyber-attacks. Under the agreement, IBM Security Services has developed a customized security operations framework to monitor real-time threats and help CIBIL proactively identify fraud.
CIBIL collates this information into reports and information solutions. And provide the information to the banks and institutions to help evaluate risk while lending to a consumer. An individual’s CIBIL Report and TransUnion Score, other than his/her income, is one of the most important tools used by a lender to evaluate application for any loan or credit card.
The solution provides a round-the-clock proactive security log monitoring and real time validation of suspicious threats using X Force Intelligence. IBM also built an integrated Security Operations Center (SOC) for incident reporting and management, which detects and monitors security events and phishing attacks in real time. The CIBIL website is also monitored in real-time with daily scanning for malware infections.
“The threat landscape has changed today with new attack vectors and complex attack motives. Attackers are more sophisticated and organized than ever before, and breaches are reported on an almost daily basis making existing models of security protection inadequate to meet these security challenges. While security technologies have been widely implemented, what is missing is the centralized & integrated operation & management for operational excellence and a result driven approach to security management. For an organization such as CIBIL the implementation of an integrated SOC ensures operational excellence and a result driven approach to security management,” said Sandeep S Roy, Business Unit Executive, IBM Security Services, India/ South Asia.
Source: Economic Times