Digitalization has been a major concern for every business executive in order to keep their services relevant to the market. The banking industry is not spared from the security threats businesses are facing today. Digital banking makes it more convenient for consumers to access financial services through their own devices without having to leave the comfort of their home especially during the COVID-19 pandemic. Although it proves to be more accessible for users, there is a risk posed with thousands of sensitive personal information being transmitted through the digital channels in every transaction. The way organizations respond to these risks determines the longevity of transacting via digital banking applications.
In 2018, an Indonesian Private Bank took a step forward to digitize their banking services through their digital banking app to cater to the millennial market segment who are more familiar with the use of technology. The adoption of the digital bank app was quick as more users utilized the system to fulfill their banking transactions. While more users trusted the system with their data, cyber threats around the world continue to evolve in hijacking current systems. The Digital Bank’s management recognized that their customer data is vulnerable to data breaches and cyber attacks especially as their app users grew into millions. The risk is magnified for the Bank and its customers as more and more points of vulnerabilities emerge where attackers can infiltrate and grab the data.
With the aim to keep their customer’s data safe, the digital bank took a step further by partnering with ITG Indonesia to fortify their security from breaches whether data is in transit or at rest. By understanding their direction and business goal to help more Indonesians through the digital banking app, ITG Indonesia proposed the adoption of a tool to help jumpstart and improve their secret management.
ITG in partnership with Hashicorp gave the digital banking app an extra layer of security by delivering encryption and decryption capabilities to the data and controlling how secrets are stored and transmitted through HashiCorp Vault’s Secret Management solution. With the competent and skillful ITG Technology experts, they are able to secure their data management and balance both the security and complexity on how they run their operations.
As of 2020, the Digital Banking App has over 2.7 millions users and has become one of the fastest growing digital banks in Indonesia. It is continually growing its user base in confidence with the guidance of ITG Experts and the capabilities of HashiCorp Vault. Secure Digital Data Management in the digital age.
Let ITG help you pivot to the world of digital with solutions that will change the way you secure your business. Schedule a consultation with our tech expert to know how you can scale your business with a seamless roadmap for your digital transformation journey.