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CORDIS

Integrated Framework for Predictive and Collaborative Security of Financial Infrastructures

Project description

Confronting sophisticated threats to the financial sector

The infrastructures of the financial sector are increasingly vulnerable to security attacks due to their criticality, complexity and interconnectivity. Fragmented and static security measures have proven inadequate. In this context, the EU-funded FINSEC project will introduce an integrated cyber and physical security reference architecture that enables timely preparation and collaborative risk assessment, countering complex threats and their cascading effects. With realistic pilots and the engagement of over 500 experts, FINSEC aims to establish an ecosystem of tailored security solutions, ensuring the fortification of the financial sector and safeguarding global financial systems. Overall, the project holds the promise of fortifying the financial sector against evolving security threats, fostering collaboration and ultimately safeguarding the integrity of our global financial systems.

Objective

The infrastructures of the financial sector are nowadays more critical, sophisticated and interconnected than ever before, which makes them increasingly vulnerable to security attacks. Despite increased security, most security measures remain fragmented and static i.e. inappropriate for confronting sophisticated and asymmetric attacks. FINSEC is a joint effort of prominent stakeholders in the financial sector and global leaders in physical & IT security, towards introducing a novel standards-based reference architecture (RA) for integrated (cyber & physical) security. The RA will enable timely preparation against attacks, while at the same time facilitating stakeholders’ collaboration for risk assessment/mitigation in the financial supply chain, as a means of confronting complex threats and their cascading effects.
FINSEC will provide a mature implementation of the RA, based on the enhancement and integration of novel solutions of the partners (eg., Anomaly Detection, AI CCTV Analytics, Risk Assessment Engines, Collaborative Risk Analysis & Management, Compliance), which will be bundled in a toolbox. The RA implementation and the toolbox will be validated through realistic pilots involving stakeholders in the identification, assessment and mitigation of threats. The five pilots involve high-impact scenarios including SWIFT network protection, buildings and ATM networks security, peer-to-peer payments network protection, risk assessment for insurance purposes and securing financial SMEs.
The pilots will engage >=500 security & finance experts, while providing a representative coverage of the financial services industry (ie. banking, capital management, insurance, card & P2P payments), which is a sound basis for FINSEC’s broader impact. Towards maximum impact, FINSEC will establish an ecosystem of security solutions for the financial sector, which will be supported by the partners’ dense network of sales, marketing, standardization and regulation channels worldwide.

Call for proposal

H2020-CIP-2016-2017

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Sub call

CIP-2016-2017-2

Coordinator

GFT ITALIA SRL
Net EU contribution
€ 704 375,00
Address
VIA SILE 18
20139 Milano
Italy

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Region
Nord-Ovest Lombardia Milano
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost
€ 1 006 250,00

Participants (27)