Financial Institutions in Pakistan Face Security Challenges Essay

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Financial Institutes are facing large security challenges as they confront a changing threat landscape, managing the complex password policies and counterstriking the password hacking by social engineering/online tools and the shift towards greater mobility are quite challenging tasks for IT professionals.
NIB Bank is the largest foreign bank in Pakistan in terms of its branch network and one of the largest corporate entities of the country with a paid up capital of Rs.103 billion. The Bank through its banking footprint of 179 branches in 59 cities of the country continues to serve its more than 450,000 customers for all their financial needs. As a financial institution NIB Bank plays a vital role in supporting Pakistan’s economic …show more content…

As customers take the opportunities offered by moving towards virtualized and cloud environments RSA authentication can help IT and security teams bring trust to information access as they seek to protect identities, secure transactions and safeguard valuable information.
To ensure audit compliance and security best practices, Wateen Telecom created a separate DMZ (Demilitarized Zone) on the internet firewall and placed the RSA authentication server within the DMZ. Now a remote access user can connect to the firewall using two VPN Clients; a Cisco VPN Client and a Shrew VPN Client.

The addition of the RSA Suite made a significant impact for NIB Bank. The team of NIB Bank is now able to gain detailed insight into the location and flow of sensitive data across its business units, at the push of a button. Since deployment, the Secure-ID technology has preformed reliably for NIB Bank, ensuring consistent access protection across its network.
Some of the key features of the solution are its ability to move beyond unsafe password practices, strong authentication in preventing unauthorized local and remote access to information and network resources, strong authentication as a business enabler supporting employee mobility, and a choice of hardware,

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