IBM and Cargills Bank bring cognitive security thrills to Sri Lanka
Cargills Bank, a commercial bank based in Sri Lanka, has deployed IBM’s cognitive cybersecurity solutions to enhance its existing defensive capabilities.
Rohan Muttiah, chief operating officer, Cargills Bank, says: “With cybercrime becoming more organised and sophisticated, it is imperative to deploy highly adaptive prevention and response capabilities based on proven technology.”
The bank is using IBM QRadar, a security intelligence platform, along with QRadar Advisor with Watson, to help early detection and classification of cyberthreats and alerts.
The solution helps the bank manage and analyse the large volumes of unstructured information coming from multiple external streams, and compare it with the latest information about potential threats coming from within their systems to get a “complete picture of the threat and thereby correlate the data to obtain actionable insights”.
According to IBM, its Watson for Cyber Security solution has been trained in the language of cybersecurity and has “read” two million cybersecurity documents which means it can help security analysts parse thousands of natural (human) language research reports.
Cargills Bank got its licence from the Central Bank of Sri Lanka to operate domestic and offshore banking business in 2014. It has 15 branches with the head office based in Kollupitiya (aka Colpetty).
The bank’s largest shareholder is Cargills (Ceylon) PLC – which also operates in retail, fast-moving consumer goods (FMCG) and the restaurant industry. It was founded in 1844.
