Banks have for decades been relied upon to protect their customer’s personal details and financial information. Traditionally, sensitive information has been leaked as a result of manual input of data to systems. Loss of data also affected bank’s efforts to keep track of their customer’s needs and information. Digital solutions have therefore been of great benefit to banks and other financial institutions.
As more people become cashless, additional acts or transactions go online. People conduct transactions using digital payment methods like debit and credit cards, which must be protected by cybersecurity.
NCBA bank has continuously upheld its reputation for the safety of its customer’s data and assets, with minimal cases of loss of money or leaked information, compared to other banks in Kenya.
Mobile banking and online platforms empower customers to perform transactions, access financial products, and manage their finances from anywhere. This level of accessibility is crucial in ensuring that all community members, regardless of their geographic location, can benefit from the bank’s services. To ensure these services are secure, the bank employs robust cybersecurity measures, protecting customers’ financial data and transactions from potential threats. This effort promotes savings and investments, fosters entrepreneurship, and contributes to reducing poverty and unemployment rates.
Their digital propositions, ranging from online banking, mobile banking through their app, card payments, and NCBA Till have stood the test of time and upheld customer’s expectations. Recognizing the critical importance of cybersecurity, NCBA is actively enhancing its defenses through continuous investment in advanced technologies and training. Through various proactive measures, the bank aims to stay one step ahead of cybercriminals.
In addition to technical measures, NCBA Bank also focuses on collaboration and awareness, working closely with system and application custodians to ensure all identified risks are mitigated promptly. By staying ahead of emerging threats and continuously enhancing its cybersecurity posture, NCBA Bank demonstrates its commitment to protecting its customers’ data and maintaining trust in its digital services.
The bank has forged strategic partnerships with industry-leading technology firms such as Huawei to deliver inclusive financial services through the power of AI. These collaborations are pivotal in its mission to become Africa’s most valued digital platform for financial services, offering customers innovative solutions that positively impact their daily lives. Their partnership with Huawei, which is progressing well, focuses on developing a next-generation core banking system tailored to our unique business needs.
The bank has integrated robotics into its operations to enhance efficiency through process automation. By leveraging the power of Robotics Process Automation (RPA), the bank has significantly reduced errors and improved both internal and external performance. In its quest to optimize cost efficiency, scalability, and operational control, NCBA has successfully implemented Project ZERO, achieving innovative, automated operations with minimal human intervention. Consequently, the bank has realized a 70% increase in the value of time gained and a 33% reduction in turnaround time (TAT) thanks to RPA.
The bank has implemented a comprehensive cybersecurity strategy that includes robust Patch and Vulnerability Management, Incident Response, and Security Monitoring programs. This strategy ensures that vulnerabilities are identified and addressed promptly and that any security incidents are effectively managed and resolved. The bank’s Security Operations Center (SOC) plays a crucial role in monitoring digital assets and responding to potential threats in real time.
In an era where cyber threats are increasingly sophisticated, safeguarding customer information is paramount. Banks are subject to stringent regulatory requirements regarding data protection and cybersecurity. By implementing robust cybersecurity measures, NCBA ensures compliance with local and international regulations. Effective cybersecurity practices, including incident response and recovery plans, help ensure operational continuity. This resilience allows the bank to quickly recover from cyber incidents and maintain uninterrupted services to customers.
By prioritizing cybersecurity, NCBA Bank not only protects its assets and customers but also positions itself as a leader in secure banking practices, driving trust, innovation, and long-term success.
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