CaixaBank to enhance cyber threat prevention

Wednesday 3 April 2024 09:56 CET | News

Spain-based financial institution CaixaBank has announced its plans to be part of two European consortia in a bid to prevent cyber threats and improve incident response. 

As per the information detailed in the press release, CaixaBank is set to be part of two consortia that focus on preventing cyber threats, while also providing an accelerated and more secure response to potential incidents. By participating in the two projects supported by the European Commission under the scope of the Digital Europe programme, the bank aims to implement artificial intelligence (AI) tools to deliver solutions and services that can contribute to enhancing the security of activities conducted by financial institutions.

Spain-based financial institution CaixaBank has announced its plans to be part of two European consortia in a bid to prevent cyber threats and improve incident response.

At the time of the announcement, CaixaBank was the only Spanish organisation taking part in both projects, with it leading the assessment and application of solutions delivered from the point of view of the financial sector. Both projects, including INTERSOC and NG-SOC, share the objective of enhancing the sector’s ability to detect and manage threats, while also generating a collaborative ecosystem among the different security operation centres (SOCs) that assist in enhancing their capabilities. The programmes are set to be ongoing until December 2026 and intend to detect new attack patterns and generate systems for exchanging information, knowledge, analysis, and faster responses at national and European levels. Moreover, the projects align with the good practices established by the CSIRT Network and CERT-EU, the response teams that manage computer security incidents affecting Spain and the EU.

CaixaBank’s development strategy

Currently, CaixaBank is involved in European research and analysis projects regarding several difficulties that the financial industry faces. The bank also announced its involvement in the EMERALD project, which focuses on offering the tools for automating and standardising security control management for cloud services. In addition to participating in the two projects, CaixaBank is also involved in multiple Europe Horizon projects, in a bid to ensure that the region can generate improved science and remove all barriers affecting innovation.

With this participation, CaixaBank supports the bank in solidifying its position in the financial sector, with a focus on information security. Also, by being part of these international consortia, the bank receives increased coordination in the ongoing improvement of its cybersecurity environment and of the financial landscape. The entity is committed to cybersecurity, implementing an ecosystem with specialised teams and a technology infrastructure to safeguard digital transactions from security incidents.

Furthermore, CaixaBank invests in technology to meet customer needs, while also ensuring growth, adaptability to business requirements, and availability of information. Through this, it aims to ensure full adaptation of its infrastructure to the needs arising from financial management and servicing customers. 

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Keywords: cybercrime, cybersecurity, online security, artificial intelligence, financial services
Categories: Fraud & Financial Crime
Companies: CaixaBank
Countries: Europe
This article is part of category

Fraud & Financial Crime


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