FINSEC (Integrated Framework for Predictive and Collaborative Security of Financial Infrastructures) is a research project on cybersecurity funded by the European Commission within the context of the Horizon 2020 programme. Its objective is to put together prominent financial institutions and global leaders in physical and IT security, in order to study and develop innovative solutions for the security needs of the financial sector as a whole.
The FINSEC project aimed at developing a novel standards-based security reference architecture for integrated (both cyber and physical) security dedicated to the players of the financial domain, which could 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 provided a mature implementation of the reference architecture, based on the enhancement and integration of novel solutions of the partners (e.g. Anomaly Detection, AI CCTV Analytics, Risk Assessment Engines, Collaborative Risk Analysis & Management, Compliance), which was bundled in a toolbox.
The implementation of the reference architecture, as well as the toolbox, were validated through realistic pilots involving stakeholders in the identification, assessment and mitigation of threats. The five pilots involved high-impact scenarios including SWIFT network protection, buildings and ATM networks security, data/text mining, peer-to-peer payments network protection, blockchain systems, risk assessment for insurance purposes and securing financial SMEs. The pilots engaged hundreds oh security and finance experts, while providing a representative coverage of the financial services industry (i.e. banking, capital management, insurance, card & P2P payments), which is a sound basis for FINSEC’s broader impact. Towards maximum impact, FINSEC established an ecosystem of security solutions for the financial sector, which were supported by the partners’ dense network of sales, marketing, standardization and regulation channels worldwide.
FINSEC project partners
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 786727