DUBAI, UNITED ARAB EMIRATES: InvestBank has bolstered its cybersecurity and application performance credentials to support new growth and improve customer service.
The project, which is the first of its kind in the region, entails working with security experts F5 Networks to pre-empt complex consumer demands and support compliance with global best practice, including the Payment Card Industry Data Security Standard (PCI DSS).
“InvestBank is committed to continually improving its ability to scale and innovate, as well as offering our customers the most user-friendly, secure services possible. The new technology we’ve introduced, will be critical to shaping and safeguarding our next phase of development,” said Kausar Mukeri, CISO and Head of Information Security, InvestBank. F5 was chosen for its strong application security reputation, which includes recently being positioned as a Leader in the Gartner Magic Quadrant for Web Application Firewalls (WAF).
InvestBank is using the cloud-ready F5® BIG-IP® iSeries Application Delivery Controller (ADC) platform, which provides DevOps-like agility with the scale, security depth, and investment protection needed for both established and emerging apps. The platform delivers quick and easy programmability, ecosystem-friendly orchestration, and powerful, software-defined hardware performance. It also helps accelerate private clouds and secure critical data at scale.
Key benefits include simplified policy management, as well as reducing TCO and infrastructure footprints by consolidating app and security services on to a unified, high-performance platform. Other improvements include robust protection on top of InvesBank’s baseline security control points via integrated, one-pass, full stack Layer 3 to Layer 7 security, incorporating an ICSA Certified firewall, high-capacity DDoS mitigation and contextual access management.
The project also encompasses the F5 Silverline® cloud-based services delivery platform to protect against application attacks ranging from threats such as DDoS attacks, Open Web Application Security Project (OWASP) Top 10 attacks, and malicious bots. Throughout, the project has benefited from F5’s close collaboration with InvestBank’s Infosec team.
“We wanted F5 to be part of our solution from day one due to its performance in the Web Application Firewall (WAF) space. Our consolidated architecture in the region and globally now includes state-of-the-art tools delivering Layer 3 to Layer 7 DDoS mitigation for both volumetric and targeted attack vectors. It is already proving a game-changer and is helping to raise standards across the banking industry” said Mukeri.
InvestBank’s infrastructure boost coincides with the Middle East business community’s growing cybersecurity focus. According to MarketsandMarkets, the security market size is expected to grow from USD 11.38 Billion in 2017 to USD 22.14 Billion by 2022, at an estimated Compound Annual Growth Rate (CAGR) of 14.2%.
“InvestBank has taken important steps to safeguard its infrastructure and ensure that it continues to deliver the world-class services its customers expect,” said Diego Arrabal, VP – Middle East, Turkey & Africa, F5 Networks.
“Together, we have unlocked new levels of application performance agility and security, and ensured a clear route ahead to harness the potential of multi-cloud deployment scenarios.”
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About InvestBank
InvestBank was established in 1975 as a public shareholding company, in the Emirates of Sharjah. Throughout its existence, the Bank has made significant advances, consolidating its structure and establishing itself as one of the foremost banks in UAE. The Bank has continued to maintain a high level of capital, with sound Capital Adequacy Ratios averaging about 23% in the last six years with an average Tier 1 ratio of 21% reflecting that the Bank remains one of the best in the UAE banking sector. Bank´s shares are publicly traded on Abu Dhabi Securities Market.
In its 42 years of operations, Invest Bank has grown into a niche, premier, boutique corporate commercial bank offering exceptional personalized service to their valuable clients creating partnership bond beyond loyalty and value to its shareholders beating all uncertainties.
In 1997, the bank changed its name from Investment Bank for Trade and Finance to Invest Bank. Despite this renaming however, the focal point of activities remains unchanged. During its operations, the bank has created a market niche for itself in the commercial sector, with particular focus on project and trade finance by remaining a Corporate Commercial Bank.
Through its network of 16 branches in all but one Emirates of UAE, the bank offers a wide range of banking services, adopting a customer driven, time and effort saving policy under the supervision of a highly qualified and specialized bank team. In addition, in 2013 Bank opened its first overseas branch in Beirut, Lebanon yielding positive results in its third year of operation. Besides, the bank has a large network of correspondents worldwide endeavouring to offer the best services to its clients.
About F5
F5 (NASDAQ: FFIV) makes apps go faster, smarter, and safer for the world’s largest businesses, service providers, governments, and consumer brands. F5 delivers cloud and security solutions that enable organisations to embrace the application infrastructure they choose without sacrificing speed and control. For more information, go to f5.com. You can also follow @f5NetworksEMEA on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies.
