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Security Assessment and Documentation|

Helping a Global Retail Bank Launch a New Digital Bank

Helping a Global Retail Bank Launch a New Digital Bank

The Background

We helped a large global retail bank launch a new digital bank by performing its security assessment and ensuring compliance with regulatory cyber requirements. Regulations such as MAS Guidelines on Information Security Management require financial institutions to implement information security management systems. The aim is to establish a secure environment for the protection of customers' personal data, banknotes, and monetary instruments.

Pragma was called to perform and document security assessments for the client, ensuring compliance with the Monetary Authority of Singapore (MAS) Technology Risk Management and Cyber Hygiene regulations.

The Process

The process includes a review of the client's assessment and current documentation, including all project documentation, policies, and guidelines. We interviewed all vendors and performed an audit of their operational procedures to determine compliance. Pragma also designed the Risk Register and Risk Control Library with a consolidation of policies.

Pragma has created and updated detailed Level 3 procedures documentation, and an extensive database to support major financial processes throughout the organisation. This documentation is used in support of existing policies and standards based on the requirements of MAS TRM.

The Result

Working with the client allowed us to create over 40 standards and procedures that are compliant with the MAS TRM and Cyber Hygiene Regulations. Because of this detailed documentation, the client is on the path toward compliance with licensure and cybersecurity guidelines.

Tags:

Global Retail Bank
Digital Bank
Security Assessment
Regulatory Compliance
MAS Guidelines
Information Security Management
Cyber Requirements
Technology Risk Management
Cyber Hygiene Regulations
Documentation Review
Operational Procedures
Risk Register
Risk Control Library
Policies
Standards
Procedures
Licensure Guidelines
Cybersecurity Guidelines

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