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NCC Bank Ltd. & Thales team to secure digital transactions in Bangladesh

By Gloria Mathias

July 20, 2023

  • APAC
  • Bangladesh
  • Bank of Bangladesh
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 NCC Bank Thales Thales, Luna Hardware Security Modules, Binimoy, Merchant Payments, Domestic Payments,   Real Time Payment Solution, e-Wallets, FinTech, APAC,  DIGITAL PAYMENT APAC, Digital Channels, Cashless Transactions, Secure Payments, Interoperable Digital Transaction Platform, Bank of Bangladesh Bangladesh National Credit and Commerce Bank (NCC) of Bangladesh integrated Thales Luna Hardware Security Modules (HSMs) across its existing infrastructure to meet the complex security requirements of the recently launched Interoperable Digital Transaction Platform, Binimoy.

The Bangladesh Government launched the Interoperable Digital Transaction Platform (IDTP), allowing entities to move funds between bank accounts, mobile financial services, and payment system providers in real-time and at a lower cost. The platform connects customers, merchants, payment processors, e-wallets, banks, and more, supporting the Government’s goal of a cashless society.

The IDTP relies on crypto operations to ensure the confidentiality and integrity of all transactions. NCC Bank opted Thales Luna HSMs as its hardware-based root of trust for its cryptographic operations. Luna HSMs are FIPS 140-2 Level 3 certified and offer a secure communication channel between HSM and application nodes.

Anisur Rahman, Chief Information Officer, IT Division at NCC Bank said, “NCC Bank has a long-standing reputation for sincere personalised service and quality technology. We selected Thales through comprehensive evaluation due to their reputation as the market leader in the security industry. Adding Luna HSMs to our existing infrastructure was smooth and seamless thanks to its efficient setup and administration.”

Thales Luna HSMs allow the control and management of cryptographic keys across physical, cloud and hybrid IT infrastructures, including NCC Bank’s 125 branches. The overall security architecture supports the security requirements of the IDTP, including multi-factor authentication and easy reporting for audits.

Rana Gupta, APAC Vice President, Data Security Products at Thales shared, “Banks around the world entrust Thales to ensure the privacy of their customers. We are proud to assist NCC Bank’s transition to digital technologies that benefit millions. Our Luna HSMs are designed to balance security and high-performance requirements for traditional and new technologies. For financial institutions like NCC Bank of Bangladesh, this means ensuring that digital currency has the highest level of security for its customers.”

As financial sector of Bangladesh continues its digital transformation, NCC Bank will benefit from Luna HSMs’ agile offering that can handle multiple applications with different digital requirements.

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