Invest Bank, a commercial bank in Sharjah, UAE, has completed the deployment of Cisco’s cybersecurity solutions, and revealed the gains.
The bank implemented Cisco’s cybersecurity solutions including Cisco Advanced Malware Protection (AMP) to support digital transformation.
“As we expanded our mobile digital network and internet banking services, we sought to establish a security framework that underlies every aspect of our digital transformation,” said Sami Farhat, CEO of Invest Bank.
After evaluating multiple security vendors, the UAE-based bank selected Cisco for its integrated security offering and effectiveness against threat attacks and ransomware. Cisco did not reveal the name of other cyber security companies which were looking for the deal from Invest Bank.
The solution includes the intelligence-powered Cisco AMP for Endpoints 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.
Cisco said its security solutions assisted Invest Bank to reduce the time spent responding to and mitigating security threats from 10 days to 2-3 hours. This frees up time for the IT and security teams to develop new applications and customer facing platforms and drive deeper operational efficiency.
Cisco said the security architecture also allows the bank to share real-time information and grants them deep visibility and control.
Fady Younes, operations director – East Region, Cisco Middle East, said Cisco’s approach is to integrate security into the network to help create a secured environment which is capable of preventing a breach or attack.
A Cisco study pointed out 71 percent of banking executives said concerns over security are hindering their ability to innovate, and 39 percent said they have stopped a mission-critical initiative because of security problems.
