The Maharashtra State Co-operative Banks Association (MSCBA) has partnered with Mumbai-based cyber security company Sequretek to make security solutions available to as many as 400 cooperative banks in the state.
Under the terms of the partnership, Sequretek will remotely monitor and respond to security threats that could pose a threat to the daily operations of the 400-odd cooperative banks, said an official statement.
It will also offer round-the-clock support through its SOC (security operations center), which currently monitors more than 300 million incidents globally every day. In addition, it will train 1,000 security professionals to help banks manage certain aspects of cyber security on-premise.
“Small size banks often find it challenging on account of limited resources to access the right technology for their cyber security needs. Our commitment to cooperative banks is to extend our full suite of cyber security services which includes monitoring, threat intelligence, training and continuous updating of the overall security infrastructure,” Sequretek co-founder and CEO Pankit Desai said.
Sequeretek was founded in 2013 by Desai and Anand Naik. The company develops security solutions such as digital identity management, threat protection platform, security analytics and more for enterprises in the financial, pharmaceuticals, IT and logistics sectors.
The initiative was inaugurated by Ravindra Chavan, minister of state for information technology, ports, medical education, consumer protection, food and civil supplies.