Pilots #10 - Real-time cybersecurity analytics on Financial Transactions’ BigData

20th April, 2020, MASSIMILIANO ASCHI, POSTE ITALIANE, ITALY

In recent years, every financial activity is being increasingly digitized; unfortunately, at the same time, in cyber threat sector, there are strong increases in activity such as abuses on home-banking and mobile banking systems, malicious behaviors and cyber-attacks. Because of these threats, the sector must face new and evolving challenges, linked to unprecedented data volumes and variety, new types of frauds or attacks.

Real-time cybersecurity analytics on Financial Transactions’ BigData

The INFINITECH’s Pilot #10, will demonstrate that it is possible to obtain a significant improvement of the detection rate of malicious events (i.e. fraud attempts) and to identify security-related anomalies while they are occurring, through a real-time analysis of financial transactions, based on machine learning techniques. This approach allows proactive and prompt interventions on potential security threats. The pilot will realize a short from the current “ex-post” detection approaches, to a new wave of real-time approaches that will leverage technologies for real-time Big Data analytics. As a result of the analysis that will be carried out, the following points of strength are expected:

Improved capability to monitor and analyze real-time data, for cyber-security purposes;
Selection and implementation of proper countermeasures with an unprecedented reactiontime and effectiveness rate;
Determination of individual cyber security postures and exposures based on dynamic cyber-risk ratings metrics.

Indeed, we expect that the analysis of vast amounts of data, will help to define relevant cyber-risk ratings metrics and allow to implement adaptive security measures and controls, based on real cyber-security postures.