The Problem Statements | 29/09/2023

Glasswall

Many banking and finance firms rely on detection-based cybersecurity solutions to protect against file-based threats.

The problem with this approach is that no matter how complex a security solution may be, it can only protect its users against what has been seen before – falling short against zero-day threats.

For example:

Antivirus and firewalls use signature-based detection that can only protect against threats already found. Bad actors are constantly evolving their techniques and discovering new vulnerabilities to exploit. This leaves organisations at risk for up to 18 days while signature databases catch up with new threats.

Sandbox solutions are a step up from antivirus, but cybercriminals now use clever tactics to evade them. Malicious content can be fitted with a delayed detonator, meaning malware lays dormant and undetected by the sandbox, detonating once it passes through.

Machine learning and AI technologies rely on algorithms to detect known signs and patterns of malicious content. While offering a more effective approach than traditional solutions, machine learning and AI alone cannot offer absolute zero-trust protection.

At Fintech Connex, we understand the importance of file security, especially the transfer of critical and sensitive data across secure networks. File upload portals are another common use case for financial organisations, with speed and data security being crucial to customer interactions.

We’re pleased to have found a fintech company to solve these problems, called Glasswall. Their zero-trust CDR (Content Disarm and Reconstruction) technology automatically sanitises every file that enters your system, stripping away potential threats and reconstructing each file to its ‘known good’ state. Doing so protects your organisation from compromised files that could otherwise enter your network. Glasswall zero-trust CDR aids the safe transfer of data across networks by providing the following capabilities:

• Protect: Rebuilds files to their known-good specification
• Analysis: Provides detailed reporting of file content
• Transform: Enables third parties to carry out verification of files in simple data formats (SISL/XML)
• Word Search and Redact: Identifies forbidden words and enacts a policy to either redact, report or block files
• File Type identification: Determines the true file type

Glasswall CDR is the ideal technology for banking and finance firms looking to protect their critical networks against the risk of file-based attacks. It can help organisations prepare for regulatory audits and comply with international data privacy regulations faster and more securely than ever before. If you’d like to learn more about how Glasswall could make your organisation work more efficiently, talk to the team at Fintech Connex, and we will connect you. Safely.