Bank of India wins security implementation crown

MUMBAI, INDIA: The C-Change Enterprise Awards 2011 for Best Security Implementation has been bagged by The Bank of India for its implementations of STARTOKEN, PCI-DSS and setting up 24X7 Security Operations Center (SOC).

The award was presented to Bank of India CIO Pushpinder Singh at a glittering function held at The Leela, Mumbai, on Friday, August 19.

The bank is the first among PSU banks in the country to roll out a 2-factor authentication solution, and also the first bank to go for PCI-DSS compliance. Though currently there are no compliance requirements for customer authentication, the bank has gone ahead in a proactive manner to protect its customers from cyber attacks.

The Bank of India has implemented a security architecture, which has been developed keeping in view a holistic requirement and also to ensure that all aspects of the security are taken care of.

Key Implementation

The bank said it made this implementation in view of the emerging threats of phishing, MOTM (Man-on-the-Machine) key-loggers/Trojans, MITM (man-in-the-middle), MITB (man-in-the-browser) on the Internet banking customers worldwide.

To read more about the winning projects, click here

STARTOKEN for 2-factor authentication is based on the Virtual Private Security Internet Technology, a patented-technology developed by Uniken and integrated in Bank of India by Hewlett-Packard.

The PCI-DSS implementation protects card holder data, which is extremely important in view of the Data security and Privacy concerns arising out of regulatory guidelines and IT (amendment) act 2008.

The bank has also set up a 24*7 Security Operations Centre (SOC), with the goal to monitor real-time attacks on its infrastructure. As part of this security effort, it also deployed a SIEM (Security Incident & Event Monitoring tool) to collect, correlate the logs from various servers , devices and generate real time alerts so that the relevant team can take action immediately.