Hong Kong, 8 April 2011 – ICICI Bank has won the Best Banking Security Systems with its partner Nevis Networks in the fifth Asian Banker Technology Implementation Awards Program.
The Best Banking Security Systems Award has been awarded to ICICI bank for successfully implementing a project with Nevis LANenforcer product line that centralizes its end-to-end security technologies and has a pro-active approach to handle complex threats. Given that ICICI Bank has a large heterogeneous network with various point devices and multi-vendor equipment, the bank had to deploy a system that addresses the security concerns. The security of any system is important as vulnerabilities might be exploited by malicious persons resulting not only financial loss but long-term reputation damage as well. ICICI Bank deployed a solution that centralizes the end-to-end security technologies across the various entry points and data points in the bank’s network. ICICI Bank and its vendor partner Nevis Networks created and implemented the solution across the bank’s 2,500 branches. The persistent security across the entire bank has yielded the following results: faster bank transactions, better network uptime for online or branch transactions, no loss of customer information and increased customer confidence on the entire system.
“ICICI Bank’s robust security system was able to identify the possible threats within its network and pro-actively provide solutions for them. It was also able to unify the security technologies in one framework resulting in greater efficiency and better integration,” says Chris Kapfer, Head of Asian Banker Research. The project is also notable for its ability to integrate with the back-end functions of the bank and not merely focus on front-end transaction touch points.
“The Asian Bankers Best Banking Security Award is a very significant milestone for the bank to achieve and it reflects our proactive approach from bank to handle complex modern day threats.”. Mr. Sunil Dhaka, CISO & Head of Information Security Group said , “We are honored to have received this prestigious award which is in recognition of the successful implementation of multilayered end to end security technology from Nevis Networks”.
Mr. Rakesh Mashruwala, Head Network Security oversaw implementation of end to end solution across 2500 branches in 19 countries said “This project ensures that there is no rogue machine on our network, is highly scalable, high available, In-Line, continuously monitoring traffic and reporting all anomalous activity across our entire bank’s network of 2500 branches.”
With continued research, Nevis Networks further compliments its revolutionary LANsecure architecture, is the only ASIC and software architecture that can deep inspect, provide comprehensive LAN security and native acceleration at a throughput of 10Gbps, while simultaneously providing identify based access control, NAC, intrusion prevention, malware containment and application based traffic monitoring.
“We are very happy to receive this prestigious award along with ICICI Bank from The Asian Banker. Both ICICI Bank & Nevis teams worked relentlessly to meet the project objectives as well as the time lines” said Dr. Radha Shelat, CEOPresident of Nevis Networks. “Today we celebrate the trust of our customers in Nevis. This will remain a motivating factor for us to exceed their expectations”.
About ICICI Bank
ICICI Bank Limited (NYSE:IBN) is India’s largest private sector bank and the second largest bank in the country, with consolidated total assets of over $115 billion at December 31, 2010. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans across 19 countries, including India. The bank’s website is http://www.icicibank.com.
About Nevis Networks
Nevis Networks India Private Limited, is a market leader in secure switching and identity-based policy enforcement appliances. The company’s LANenforcer product family transparently enforces identity-based policies in real time within the network fabric tightly controlling access to network by the users and the resources they are permitted to use. Cross-industry customers, ranging from financial services, healthcare, education and defense contractors, deploy Nevis’ LANenforcers to protect sensitive network resources & assets, significantly reduce the overall cost & time to resolve security breaches and to conduct network audits. The company has offices and operations in USA & India, and a partner network worldwide. To learn more, visit http://www.nevisnetworks.com.
About The Asian Banker
The Asian Banker is the foremost provider of strategic business intelligence on the financial services industry in the Asia Pacific and Middle East regions. The organization has offices in Singapore, Kuala Lumpur, Beijing and Dubai as well as representatives in Shanghai, London and New York. With a business that revolves around publications, research services, training and forums, the organization is highly regarded in the financial services community for its incisive and independent commentaries on developments in the industry. The company’s website is http://www.theasianbanker.com