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As Online Banking Grows Worldwide, Unified Threat Management Platforms Meet the Data Security Challenge

Online banking is quickly becoming ubiquitous. This is a realization that Adarsh Credit Co-Operative Society, a leading multi-state Credit Co-Operative Society providing financial services to its members in India, is all too familiar with.

According to statistics from the Reserve Bank of India, the number of mobile banking transactions doubled to 5.6 million in January 2013 from 2.8 million in January 2012. The value of these transactions increased three-times to Rs 625 crore ($105.73 million USD) during the month from Rs 191 crore ($ 32.31 million USD). In the U.S., it’s not uncommon to see people using the Web to check account balances.

According to the Pew Research Center, more than half of all adults bank online. And, 32 percent of adults use their mobile devices for banking. A quick look at the Android marketplace shows that the app regional credit union here in Washington has more than 100,000 downloads alone. Chase Bank’s app has more than 10 million downloads.

This growing trend of supporting not only a technologically advanced customer base, but also the need for safe and secure transactions between its 500 locations and 2,250 employees across India led Adarsh to deploy a number of WatchGuard devices.

Adarsh has deployed WatchGuard XTM 8 and 5 Series appliances in its data centers, as well as XTM 2 Series appliances at all of its 500 branch locations. While banking accessibility was key, the organization also needed to restrict Internet usage at branch sites. Setting up the right IT security policies and ensuring uniform administration across these sites was a key driver in the selection process.

Additionally, Adarsh recently introduced the Core Banking application for its customers. This product, coupled with the geographic distribution across the country into rural areas, emphasized the importance for secure connectivity across its network.

The company was able to quickly deploy WatchGuard across its network and utilize the central management benefits almost immediately. Adarsh was able to utilize WatchGuard’s unique drag and drop VPN set up to
enable instant connectivity, even 
when dynamic IP addresses are in use.

WatchGuard offered Adarsh uninterrupted connectivity and smooth failover from one appliance to the other in case of an emergency while centralized management capabilities of the XTMs significantly reduced the cost of having to travel to support locations.

Adarsh is seeing real cost benefit since implementing WatchGuard. Are you ready to see how we can help your company? Contact us for more information on how we can or learn more about the XTM platform here. You can also read the Adarsh case study now.

Discussion

One thought on “As Online Banking Grows Worldwide, Unified Threat Management Platforms Meet the Data Security Challenge

  1. Public networks are another no-no for mobile banking. Public Wi-Fi is great for browsing and not using up your bandwidth, but it’s not a good idea for using your banking. Switch to your 3G or 4G connection if you want to do mobile banking.

    Posted by ome | November 13, 2013, 2:41 am

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