May 15, 2024
Financial Cybersecurity: Protecting the future of the Ecuadorian Banking
According to the latest study carried out by Kaspersky 2023, in Latin America the amount of Phishing increased sixfold. Ecuador is among the countries with the highest number of phishing attacks, being the 5th country in the ranking. Another type of attack that skyrocketed in 2023 was banking Trojans with a growth of 50%
Quito, May 2024.- Data security is a critical aspect for any organization. The banking sector in particular, faces a series of challenges in terms of financial cybersecurity today, which requires innovative and adaptable solutions regarding data security, as well as emerging technologies that are being adopted to improve user experience, strengthen cybersecurity in digital banking and protecting the most valuable assets: customer’s trust and privacy.
Cybersecurity Challenges in Financial Services
The growing digitalization of financial services has opened new doors for innovation and customer convenience; however, it has also increased the attack surface for cybercriminals. Among the most pressing challenges faced by banking cybersecurity are:
- Advanced Persistent Threats (APT)
APTs pose a significant risk to banking information security. These sophisticated cyberattack campaigns are designed to infiltrate financial institutions’ networks and steal customers’ confidential data as well as sensitive information.
The growth of e-commerce and online banking has led to an increase of online financial fraud cases. Cybercriminals use techniques such as phishing and skimming to access customers’ sensitive information, such as passwords and credit card numbers, in order to perform unauthorized transactions.
Regulations and compliance standards, such as the Organic Personal Data Protection Federal Act involve strict requirements as far a personal data and online transactions protection and security are concerned. Additionally, with the increasing cloud data storage, companies must ensure that cloud service providers comply with the security standards established by the law.
Addressing banking cybersecurity challenges with innovative technology
Faced with the challenges of online financial fraud, experts indicate that financial institutions, particularly in digital banking, are adopting emerging technologies to strengthen cybersecurity and protect customer data. Ricardo Pulgarín, Security Solutions Architecture Manager at Cirion Technologies, a leading digital infrastructure and technology provider highlights the role of technology to boost change and promote digital transformation in Latin America, offering integrated network, connectivity, colocation, cloud infrastructure, communication and collaboration solutions.
Some of the most promising solutions include.
- Artificial Intelligence (AI): AI offers advanced threat detection and response capabilities, allowing banks to identify anomalous behavior patterns and prevent cyberattacks before they occur. AI systems can analyze large volumes of data in real time to detect suspicious activity and respond proactively.
- Advanced data analytics: It enables a more effective security risk identification and mitigation for banks by analyzing large data sets to identify trends and patterns. By using predictive analytics techniques, banks can anticipate potential attacks and implement preventive measures to protect their systems and data.
- Automation of security processes: Security process automation allows banks to improve operational efficiency and reduce human risk by automating repetitive and error-prone tasks. From security patch management to incident response, automation helps ensure that systems are protected 24/7.
- Secure cloud adoption: The adoption of secure cloud infrastructures allows you to benefit from scalability and flexibility while maintaining high banking IT security standards. By using certified cloud providers and applying robust security measures, banks are able to protect their data and systems against cyber threats. Pulgarín emphasizes the importance of prioritizing information security above all while ensuring that customer data will be protected at all times.
In conclusion, cybersecurity in digital banking continues to be a critical challenge for the banking industry in an increasingly digitalized world. However, by adopting innovative technologies such as artificial intelligence, data analytics, process automation and secure cloud adoption, banks can strengthen their security posture and protect their customers’ data effectively. By addressing these challenges with innovative solutions, banks can ensure their customers’ trust and security while continuing to offer nimble and efficient financial services in the digital age.
About Cirion:
Cirion is a leading digital infrastructure and technology provider, offering a comprehensive suite of fiber network, connectivity, colocation, cloud infrastructure, and communication and collaboration solutions with the purpose of furthering Latin America´s progress through technology. Cirion serves more than 5,500 Latin American and multinational clients, including enterprises, government agencies, cloud service providers, operators, ISPs, and other leading companies. Cirion owns and operates a facilities-based network and data center portfolio, with extensive coverage spanning across the Latin America region. Learn more about Cirion at www.ciriontechnologies.com
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May 25, 2023
Cirion Technologies Data Center in Ecuador receives new Tier III Certification from Uptime Institute
Certification marks the highest standard for Data Centers, and in order to receive it companies need to comply with strict requirements, assessed by certified engineers.
Quito, May 25 2023.- Cirion Technologies Quito Data Center Carcelén, Ecuador, received the Tier III Certification of Constructed Facility from the Uptime Institute. This certification guarantees that their facility was built according to design, and confirms their ability to comply with availability requirements, as defined. Thus, Cirion confirms its international recognition, ensuring that their services meet the highest standards to become the strategic partner of large companies in the country.
“Receiving the Tier III certification from the Uptime Institute confirms that Cirion has put the greatest effort into the implementation of international norms and standards, so that IT services – a key resource for organizations – are always operational,” said Felipe Gomez Jaramillo, Data Center Cloud &Security Director in Cirion for the Andean Region.
This recognition means that the data centers were designed and built to maintain high availability of IT services, even during the execution of maintenance work or replacement of any white area distribution or capacity component. We have the required coverage, the service, and the necessary customer care model to ensure the highest quality, availability and security to support our customers’ business, he added.
There are 4 levels of certifications issued by the Uptime Institute, and Tier III is among the most advanced ones. Companies interested in receiving this certification must meet various requirements, have strict preventive maintenance procedures for their infrastructure, processes and operations.
As far as connectivity is concerned, they must hold a complete network, physical routes and independent access cameras, as well as an ultra-low latency network. When it comes to power, their equipment needs to include state-of-the-art fault-tolerant features. Air conditioning must be adequate and concurrent with efficient cooling management.
Fire protection is of the essence; rooms must be built with fire resistant and flame-retardant material, early detection and automatic fire suppression systems. Additionally, constant monitoring, identity verification, and movement control, as well as 24/7 security personnel, and video surveillance system have to be included within the facilities.
“Companies are constantly facing great challenges in their digital transformation processes,” stated Gomez Jaramillo. This is why, at Cirion, we continue to invest and develop our data centers to offer the best performance and flexibility for those applications that increasingly define the current technological landscape.
Key Facts:
- The Tier III of Constructed Facility recognition indicates the data centers operation meets the requirements determined by the global parameter system and the demands of the Uptime Institute for Simultaneous Maintenance.
- The Carcelén data center also received the Tier III Certification of Design Documents from the Uptime Institute, which recognizes high design standards for data center infrastructure and capability.
- Data center operators have the ability to isolate components and perform planned maintenances without suspending or affecting the data centers operations.
- Cirion measures and enhances its data center and security services, on a regular basis. An important part of the maintenance process includes updating and renewing certification of their facilities; this is the foundation for their strict information security policies both for traditional and cloud services.
- Cirion’s data centers received several certifications, such as Tier III from the Uptime Institute, SAP Hosting, SAP HANA, SAP Cloud and Infrastructure Partner, ISO/IEC 9001, 20000-1, 22301, 27001, 27017, 27018 in addition to maintaining compliance with PCI-DSS, ISAE3402 SOC 1, SOC 2 and SOC 3, reflecting the company’s commitment to maintain the high-quality levels determined by international standard for their data centers management.
About the Uptime Institute
The Uptime Institute developed the Tier Certification over 25 years ago to measure data centers, and how these can meet an organizations needs. These certifications have earned worldwide recognition since then and provide a unique excellence brand for high-performing businesses. The certification process also includes face-to-face visits to prove compliance with the strict requirements aimed at guaranteeing the availability and high performance of the facilities.
With more than 2,500 Tier Certifications issued in over 110 countries around the globe, the Uptime Institute Tier Certification is the data center industry standard for design, construction, and on-going operations.
About Cirion
Cirion is a leading digital infrastructure and technology provider, offering a comprehensive suite of fiber network, connectivity, colocation, cloud infrastructure, and communication and collaboration solutions with the purpose of furthering Latin America´s progress through technology. Cirion serves over 5500 Latin America-based and multinational customers, including enterprises, government agencies, cloud service providers, carriers, ISPs, and other leading businesses. The Company owns and operates a facilities-based network and data center portfolio, with extensive coverage spanning across the Latin America region. Learn more about Cirion at www.ciriontechnologies.com
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May 16, 2020
Infrastructure expansion and network coverage provide corporate customers greater speed and broadband availability.
QUITO, Ecuador, June 15, 2020 /PRNewswire/ — To facilitate technological development and digital transformation of businesses in need of connectivity, IT infrastructure and presence in the cloud, CenturyLink, Inc. (NYSE: CTL), a leading technology company, has expanded its network infrastructure in Ecuador.
CenturyLink implemented and launched a new fiber optic route with 800 kilometers (approx. 497 miles) of new fiber connecting Ecuador to Colombia, from the city of Quito to Cali. With 600 gigabits of capacity, this route enables a 100% redundant connectivity between the two countries for all the company’s services and is integrated with the SAC (South American Crossing) subsea system.
Additionally, to meet enterprise, ISP and the government high-speed service demands in Ecuador, CenturyLink is finalizing the implementation of a national ring with an extension of approximately 1000 kilometers (approx. 621 miles) and 600 gigabits of capacity. This will help connect some of the main markets in the country, such as Quito, Santo Domingo, Quevedo, Guayaquil, Cuenca and Ambato.
“At CenturyLink, we understand the importance of continually expanding and renewing our infrastructure, and offering high quality services to our customers, through fast and secure connections,” commented Wilmer Puerta, director for Connectivity Products in CenturyLink Ecuador. “This is why the end-to-end management of this extension will allow us to be more competitive in the market and offer the best support and service level in connectivity services to local and regional companies.”
