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CaixaBank participates in EU R&D cybersecurity project

Spanish CaixaBank has, together with eight international partners, developed the European Security Certification Framework (EU-SEC) cybersecurity project in order to establish an international cybersecurity certification standard.

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CaixaBank teamed up with 8 other partners for the project

Funded by the European Union, the research team is made up 25 professionals of 11 different nationalities from the financial sector, public administration, technology, cloud, audit and cybersecurity.

The companies are the Cloud Security Alliance, an international organisation specialising in cloud technology, cloud infrastructure provider Fabasoft, university research centre Fraunhofer, auditors Nixu Cibersecurity and PriceWaterhouseCoopers, and technology company SixSq.

The group has been working towards a European certification standard for cloud cybersecurity, and after three years, and a total investment of €3 million, the group will present its findings in the coming weeks.

Currently, there is no international certification validating the security of data stored in the cloud, “however”, Caixabank said, “a European certification standard within this scope would standardise the security requirements across different countries and thus provide access to new markets with innovative technology providers while fully ensuring data protection.”

The standard would be particularly useful in banking and public administration, as they handle a high volume of sensitive data, which has led to a two-pronged approach to the project: one focusing on finance, led by CaixaBank, and one aimed at public administrations, led by the Slovenian and Slovakian governments.

CaixaBank, chaired by Jordi Gual and led by CEO Gonzalo Gortázar, is a pioneer in security coordination and research. In this respect, the bank has rolled out a cybersecurity ecosystem with specialist teams and infrastructure to provide protection against security incidents. The bank announced the addition of the digital trade platform we.trade to its service catalogue for companies on 6 January, and partnered with Salesforce for digital transformation and research in November last year.

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