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This article is part of Banking Cio outlook Innovation Insights series featuring expert contributions nominated by our subscribers and reviewed by our editorial team.

Danny Nachmuly  VP of International Sales & Marketing, OCTOPUS SYSTEMS

The Security Challenge for Banks

Danny Nachmuly VP of International Sales & Marketing , OCTOPUS SYSTEMS

Regional, national and international banks manage and operate branches, offices and other facilities across large geographic areas, requiring coordination of human resources, facilities and technologies, particularly as an outcome of acquiring or merging with other banks.

Most banks manage their physical security and handle crisis management from an operational risk and security division, and their information security and cyber emergency response from their technology division, which discourages collaboration, cooperation, threat transparency, regulatory compliance and the development of unified response protocols.

With the rise of digital cyber-crime, external and internal fraud, business disruptions, weather and fire events – banks need to enhance their crisis management response, resiliency, governance and business continuity capabilities.

Banks are also facing new national and international regulations, such as GDPR, FACTA, FinCEN, GLBA and others, each of which requires regulatory compliance strategies and tools.

THE SOLUTION OCTOPUS SECURITY FUSION CENTER:

OCTOPUS SECURITY FUSION CENTER INTEGRATIONS:

• A converged and unified security management platform that consolidates all the banks physical and cyber security systems, operations, response procedures and governance.

• An advanced integrations’ rule engine for correlating cybersecurity with physical security to detect possible insider threats.

• Machine learning for trends, predictions and abnormal event detection.

• Advanced incident management system for call taking, SLA times, response automation and messaging.

The control centre software system manages 4 desks:

1. Physical Security
2. Cyber Security
3. Technical support
4. Internal Fraud

Integration to 30 sub-systems such as:

o Access control
o Surveillance cameras
o Video analytics
o Fire alarm
o Intrusion alarm
o ATM systems
o Vaults and safes
o Parking systems
o Visitor systems
o PA
o Radio communication
o IP Telephony and Intercom
o NOC SCOM system
o Active Directory
o MDM
o ArcSight logger
o Domain Protection
o Cyber big data system
o Fraud detection system
o Mail servers
o SharePoint

Octopus provided a Unified communications system for SOC’s desks call taking:

o Integration to IP PBX
o Interface for call taking
o Call metrics – active operators, call wait time, SLA, etc.
o Assign work station to security role type
o Audio recording

OCTOPUS SECURITY FUSION CENTER MODULES:

• Open architecture integrations API server.
• Unified security dashboard
• Device control module
• Smart rule engine and automation module
• Global GIS system with all the
• sites’ floor plans
• Incident management system
• Standard operation procedure
• system (SOP) with work-flows
• Unified communications
• system and call taking
• Video management system
• Mobile application platform
• External threat and
• intelligence module
• Mass notifications via emails
• and SMS
• Human resource
• management for all security
• staff
• Site management
• Vendor management module
• Managers dashboard with SLA’s for incidents, equipment, calls, etc.
• Business Intelligence (BI) system for reports, trend analysis, machine learning and predictions.
• User authentication system with single sign-on and onetime password

OCTOPUS SECURITY FUSION CENTER IMPLEMENTATION ROI AND BENEFITS:

• One state of the art new SOC consolidating all security response

• All systems are integrated and can now be managed from one system

• A unified system for response protocols, resiliency and governance

• Improved response time by 30%

• Reduced insider-threat risk for security and fraud by 25%.

• Increased collaboration and threat sharing between physical security staff and cyber security staff by 50%

• Provide better insight and analysis into security patterns, trends and threats.

• Render disparate and obsolete security systems unnecessary – saving $200k per year

• Can save over $250k a year in operational and man-power costs

• Expected reduction in true incidents by 30% and reduction of incident related costs by $300k annually

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The articles from these contributors are based on their personal expertise and viewpoints, and do not necessarily reflect the opinions of their employers or affiliated organizations.