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cyberSecurity Optimization and Training for Enhanced Resilience in finance

Project description

Tools to protect against cyber attacks

The European Union’s Network and Information Security (NIS) directive is the first piece of EU-wide cybersecurity legislation. It ensures cybersecurity oversight of systems fundamental to the functioning of society. With a focus on the finance sector – which is the most attacked industry, and as such has the most regulations to comply with – the SOTER project will create tools to tackle future cyberattacks and vulnerabilities. These tools will improve the interconnections between different service providers and users and help identify the level of cybersecurity that exists. This will reinforce trust in their information and communications technology products, services and processes.

Objective

The Digitalization Era implies many advantages for businesses and citizens. However, new threats arise, especially in what concerns data privacy and the use of digital identities. These threats must be tackled under a holistic approach and pointing at their different origins, including the human factor. The European Union is reinforcing the legal framework to contribute to this need, including important requirements to be fulfilled, especially in the context of critical sectors identified under the NIS Directive. Finance is one of them, actually the most restrictive, because of the number of regulations to comply with. This makes finance the perfect scenario for testing tools, before transferring the results to other sectors. That is why SOTER is mainly focused on it, aiming at providing a comprehensive set of tools that will act as a transformative process of the finance sector, helping their players to increase their cybersecurity level, enabling the fight against present and future cyberattacks and vulnerabilities. The results will then increase their cyber-resilience.
SOTER main results will be: SOTER Digital Onboarding Platform (the technology tool to provide a robust and sovereign digital identity, facilitating the interconnections between different services providers and the users), improved by the use of blockSOTER will offer tools that are able to determine the level of cyber security that exists in a certain entity, to improve if that is the case. We intend to get this through a comprehensive risk analysis to create contingency plans and direct action measures that can mitigate threats and security attacks.

In the case of the finance sector, we propose to test and analyze a cloud platform of Digital Onboarding with two main features:
• use of technologies blockchain
• innovative systems of biometric identification of users

Derived from this, training actions for end users will be generated so they are able to detect and deal with this type of threats.

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Keywords

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Programme(s)

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Topic(s)

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Funding Scheme

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IA - Innovation action

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Call for proposal

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(opens in new window) H2020-SU-DS-2018-2019-2020

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Coordinator

NTT DATA SPAIN, SL
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 803 850,56
Address
CAMINO FUENTE DE LA MORA 1
28050 Madrid
Spain

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Region
Comunidad de Madrid Comunidad de Madrid Madrid
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 1 224 285,14

Participants (12)

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