First Energy Bank of Bahrain has chosen InfoWatch’s Data Loss Prevention & Protection Solutions to safeguard banking sensitive data and ensure compliance.
InfoWatch, a Kaspersky Lab spin-off and a worldwide leader in securing corporate digital assets, today announced that First Energy Bank B.S.C. (c) (”FEB”), an Islamic investment bank licensed by the Central Bank of Bahrain, has deployed InfoWatch Data Loss Prevention & Protection (DLP) Enterprise Banking Suite – InfoWatch Traffic Monitor Enterprise & CryptoStorage Enterprise software solutions – to secure banking confidential information and meet compliance requirements. In partnership with Fakhro Electronics (Division of Abdulla Yousif Fakhro Group), the implementation was successfully carried out meeting the Customer’s business requirements.
Today, the vital importance of confidential data protection and overall information security has become absolutely evident, especially in banking industry where most data is sensitive. At the same time, the data volumes are growing exponentially, IT infrastructure is going more diverse, and corporate staff is getting more involved into using various web and mobile services, which all makes the corporate information protection a really challenging task.
Faced by this challenge, First Energy Bank required an industry-proven solution to safeguard its confidential information, "zero-day" documentation and a variety of other private banking data from leakage and improper distribution. Among major requirements there were also full support of Arabic language, and the ability to provide compliance with general and banking industry-specific infosecurity standards and regulations.
InfoWatch DLP Banking Suite secures confidential banking data by controlling its distribution and addresses critical security and compliance requirements. The Suite includes InfoWatch Traffic Monitor Enterprise that delivers the complete functionality of Data Loss Prevention & Protection (DLP) both on gateway (web, secure web, and email traffic control) and endpoint (reading, copying and printing control with shadow copies functionality) sides, and CryptoStorage Enterprise that enables transparent encryption of sensitive data on laptops, desktops, USB drives, optical media, local and network folders restricting access to encrypted data solely by the very person who encrypted it. And finally, the integrated InfoWatch Forensic Storage archives the data that requires further analysis and investigation, in compliance with banking security requirements.
First Energy Bank selected the InfoWatch solution over the competition not only basing on its functionality, reliable performance and compliance, but also because of InfoWatch expertise in addressing the specific banking business needs, and fast time to benefit: InfoWatch DLP Banking Suite comprises a set of preloaded banking-specific data processing and decision making rules (including the Arabian Linguistic Analysis Engine) and policies. It automatically detects banking sensitive data and renders a comprehensive verdict on its further handling according to banking security or compliance policies. Another InfoWatch advantage is the capability of archiving terabytes of analytical data, including those from corporate email streams for further retrospective analysis and forensic compliance.
According to Alexander Zarovsky, Director of International Sales & Business Development at InfoWatch, "We are delighted to be part of this project to securely enable First Energy Bank's business with our latest innovations to prevent security breaches and safeguard their most essential digital assets. This project clearly demonstrates that our data protection and encryption solutions meet today's Middle East banking security and compliance standards. We are clearly committed to customer satisfaction and ready to support customer’s secure growth."
The efficiency of InfoWatch DLP Banking Suite and timeliness of its deployment was demonstrated within just 72 hours upon the launch: InfoWatch Traffic Monitor Enterprise successfully prevented an internal security policy breach. The incident was identified, blocked, captured and analyzed by InfoWatch proprietary Decision Making Engine, and then the incident was stored in InfoWatch Forensic Storage Archive for further processing.
“We had witnessed an immediate demonstration of comprehensive functionally and the actual value this DLP solution had brought to our Bank, which is definitely above all other previously tested solutions,” - said Ali Al Saegh, IT Security Manager. “We are delighted with InfoWatch’s technology excellence and expertise in banking domain, which underlies their efficiency in preventing both accidental and intentional data loss. Partnership with InfoWatch secures our business in a complicated information environment,” concluded Bank’s spokesperson.
Download in PDF | Read Success StoryAbout First Energy Bank First Energy Bank B.S.C. (c) ("FEB" or the "Bank") is an Islamic investment bank licensed by the Central Bank of Bahrain and headquartered in Manama, Kingdom of Bahrain.
FEB's founders believe that the global energy sector and the Middle East and North Africa (MENA) region offer excellent opportunities for private equity and Islamic financial investment. First Energy Bank offers investors unique and specialized opportunities that capitalize on the MENA region's status as the center for world energy.
The Bank focuses on investments in the development, production, transportation, storage, refining and distribution of hydrocarbons, as well as on oilfield services and energy sector technologies. FEB also explores opportunities to invest in the development of power generation capacity and renewable energy technologies.
The Bank operates in accordance with Islamic Sharia'a principles as a financial partner in project development, joint ventures, mergers and acquisitions and the purchase of assets and asset portfolios.
FEB, which was established in the Kingdom of Bahrain in June of 2008, is the first Islamic investment bank to focus solely on the global energy sector with a particular focus on the Middle East and North Africa region. FEB has an authorized share capital of US$ 2 billion and a paid up capital of US$ 1 billion, and the Bank's shareholders include investors from Bahrain, the United Arab Emirates, Libya, Saudi Arabia and other countries in the region.
About InfoWatch Group of Companies InfoWatch group of companies includes several organizations working in the sphere of information security, corporate information protection and linguistic analysis, namely InfoWatch, Kribrum and cynapspro.
InfoWatch Company was founded by the Kaspersky Lab group of companies in 2003. Today InfoWatch is the leading Russian developer of integrated solutions designed to protect corporate data on the basis of its own linguistic analysis technology, it occupies over 50% of the Russian market of confidential data protection systems (DLP) and is actively entering the international markets of Europe, Middle East and Asia. The Head Office of the company is in Moscow, it employs over 100 specialists and experts in the sphere of own product and technology development, implementation, integration, promotion and marketing.
Cynapspro Company develops solutions providing security of confidential data within the corporate network and reliable data protection when using external storage media. The product portfolio of cynapspro Company includes 6 products - DevicePro, CryptionPro, CryptionPro HDD, ApplicationPro, EraesePro and Powerpro providing controlled access to external media of any type, filtering by file type, safe file deletion and automatic encryption of all data on external and internal storage media.
KribrumCompany was founded in 2010 by the InfoWatch and “Ashmanov and Partners” Companies. The key product of KRIBRUM is the system of social media monitoring and analysis aimed at online reputation management.
More information about InfoWatch group of companies is available at www.infowatch.com
