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.
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logo europe This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 856632.
The content reflects only the authors’ views, and the European Commission is not responsible for any use that may be made of the information it contains.